We are expert real estate agents and have sold many condos in Liliuokalani Gardens. We would be happy to assist you too.
Description
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.
HOA Fees Include: AC Central, Cable TV, Hot Water, Internet Service, Sewer, Water, None
Zoning: X2 - Apartment Precinct
Flood Zone: Zone AE
Elementary School: Jefferson
Middle School: Washington
High School: Kaimuki
View: Garden, Marina/Canal
Furnished: Partial
Property Condition: Excellent
Owner Occupancy: 28%
Management Company: Touchstone
Security Features: Key, Keyed Elevator, Security Patrol, Video
Amenities: BBQ, Club House, Community Laundry, Condo Association Pool, Fire Sprinkler, Meeting Room, Pool on Property, Recreation Area, Resident Manager, Security Guard, Tennis Court, Trash Chute, Walking/Jogging Path, Whirlpool
Built in 1984, 385 Units on 25 Floors, 1 & 2BR Floor plans, Pets: No.
Amenities include Clubhouse, BBQ area, Pool, Tennis Courts, Walking/Jogging Path, Recration Area, Whirlpool.
Liliuokalani Gardens is a mix of both leasehold and fee-simple units, though most have bought the fee interest.
About Liliuokalani Gardens The 2 towers of Liliuokalani Gardens in Waikiki are almost a landmark on Ala Wai Blvd. Everyone knows those unique buildings, which stand out among the other square and rectangular structures ..... Read more.
The MLS properties are based on information from the Multiple Listing Service of Hicentral MLS, Ltd. Listings last updated on November 21, 2024.Information is deemed reliable but not guaranteed.
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.
The MLS properties are based on information from the Multiple Listing Service of Hicentral MLS, Ltd. Listings last updated on November 21, 2024.Information is deemed reliable but not guaranteed.
Built in 1984, 385 Units on 25 Floors, 1 & 2BR Floor plans, Pets: No.
Amenities include Clubhouse, BBQ area, Pool, Tennis Courts, Walking/Jogging Path, Recration Area, Whirlpool.
Liliuokalani Gardens is a mix of both leasehold and fee-simple units, though most have bought the fee interest.
About Liliuokalani Gardens The 2 towers of Liliuokalani Gardens in Waikiki are almost a landmark on Ala Wai Blvd. Everyone knows those unique buildings, which stand out among the other square and rectangular structures ..... Read more.
You do not own the land, but have the right to use the land until an expiration year. At expiration the ownership typically reverts back to the land owner. Leasehold Expiry: 10/31/39
Buyer and Seller have reached an agreement and are under contract. However, the sale is still subject to one or more contingencies.
We have handled many transactions for clients who purchase Hawaii real estate without visiting. By request, we can prepare thorough property videos to ensure you are familiar with every detail necessary. All documents can be signed remotely.
Buyer and Seller have reached an agreement and are under contract. The sale is expected to close / record soon.
We will be happy to work with you as a Buyer's agent. Call us to learn more: 808-943-9000. Note: A Seller's agent has a fiduciary responsibility towards the Seller. Working with a Buyer's agent objectives and goals are aligned, at no cost to you, the Buyer.
Other fees could be a special assessment, reserve contributions etc.
DOM = Days On Market. Our site shows listings immediately. A brand new listing may show DOM 2 or 3 days, if listing agent did not upload the same day listing agreement was executed.
Includes estimated monthly mortgage payment, maintenance / HOA fees & property taxes. The estimate does not include insurance premiums.
