MLS Number 202400403 For Sale
Let our Oahu real estate inspire you...
Amazing investment opportunity! This property is not for owner occupants. Owner is selling only the Fee Interest. The leasehold interest is owned by a Japanese corporation that consistently pays the current annual lease rent of $10,817 on time. There will be two more lease rent renegotiations, in 2024 and 2034, before the lease expires 10/31/2039. At lease expiration the fee owner will then own the fee simple interest in this 2-bedroom 2-bath unit and can move in, rent, or sell the unit. Recent fee simple 2-bedroom 2-bath units in this community sold between $615,000 and $632,000, and recent rentals have been $3,000 to $3,500 monthly. Great potential for increased lease rent and appreciation in the remaining 15 years of the lease! During those 15 years the fee owner doesn't have to worry about finding tenants or paying for repairs, maintenance/association fees, property taxes, or any assessments because the leasehold owner is responsible for those expenses. There is no access to see the interior of the unit - leasehold owner has no obligation to provide access. The purchase of this unit will need to be cash or high down payment financing.
| Item | Details (Information deemed reliable, but not guaranteed.) |
|---|---|
| Property Type | Condo/Townhouse |
| Building Name | Liliuokalani Gardens |
| Unit Number | Apt II2412 |
| Bedrooms | 2 |
| Full Bathrooms | 2 |
| Interior Living Area | 944 sq. ft.
87.70 sq. m. |
| Total Area |
944 sq. ft. 87.70 sq. m. |
| Year Built | 1984 |
| Parking Type |
|
| Property Condition | Excellent |
| Unit Features |
|
| Views |
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| Inclusions |
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| Flooring |
|
| Item | Details (Information deemed reliable, but not guaranteed.) |
|---|---|
| Amenities |
|
| Architectural Style |
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| Condo Parking Unit | NA |
| Construction Materials |
|
| Elevators | 4 |
| Management Company | Touchstone (tel. (808) 566-4100) |
| Owner Occupancy | 28% |
| Security |
|
| Stories | 21+ |
| Attribution Contact | Compass: (808) 825-4277 |
| Item | Details (Information deemed reliable, but not guaranteed.) |
|---|---|
| Current Price | $450,000 FS - Fee Simple |
| Price / Sq. Ft. | $476.69 / Sq. Ft. |
| Land Tenure | FS - Fee Simple (You own the land.) |
| Lease Expiration | 2039 (in 15 years) |
| Lease Renegotiation Date | 2024-11-01 |
| Tax Assessed Value | $708,400 |
| Tax Assessed Value Improvements | $516,300 |
| Tax Assessed Value Land | $192,100 |
| Tax Exemption Owner Occupancy | $0 |
| Tax Year | 2024 |
| TMK (Tax Map Key) | 1-2-6-028-049-0370 |
| Item | Details |
|---|---|
| City | Honolulu |
| Neighborhood | Waikiki |
| Zip Code | 96815 |
| Zoning | X2 - Apartment Precinct |
| Flood Zone | Zone AE |
| Elementary School | Jefferson |
| Middle School | Washington |
| High School | Kaimuki |
