300 Wai Nani Way, Unit II2412
Honolulu, HI 96815
$450,000
Price
2
Beds
2
Baths
944 Sq. Ft.
$477 / Sq. Ft.
944
Sq. Ft.
$477
per Sq. Ft.
Listed By Compass
Listed By Compass
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...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.
Listing Agent
![Tom Presler]()
tom.presler@compass.comP: (808)-222-4054
Property Details for 300 Wai Nani Way, Unit II2412
Architectural Style
High-Rise 7+ Stories
ViewGarden, Marina/Canal
ZoningX2 - Apartment Precinct
NeighbourhoodWAIKIKI
Flood ZoneZone AE
Stories/Levels21+
Land TenureFS - Fee Simple
LISTING UPDATED: 01/19/2024 05:20 PM
Property Details for 300 Wai Nani Way, Unit II2412
| Status | Active |
|---|---|
| MLS # | 202400403 |
| Days on Market | 310 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Condo |
| MLS Type | Condo/Townhouse |
| Year Built | 1984 |
| County | Honolulu County |
| Buyer's Agent Compensation | 2.5% |
| Compensation Remarks | No GET |
Building Information for 300 Wai Nani Way, Unit II2412
Building/ComplexLiliuokalani GardensFloor-Stories-Residences-Pet Policy-Year Built1984
Property Information for 300 Wai Nani Way, Unit II2412
Summary
Location and General Information
- City: Honolulu
- County Or Parish: Oahu
- State Or Province: HI
Taxes and HOA Information
- Association Fee: $0
- Association Fee 2: $0
- Association Fee 2 Includes: None
- Association Fee Includes: AC Central, Cable TV, Hot Water, Internet Service, Sewer, Water, None
- Association Fee Total: $0
- Tax Amount: $.00
- Tax Assessed Value: $708,400.00
- Tax Assessed Value Improvements: $516,300.00
- Tax Assessed Value Land: $192,100.00
- Tax Excemption Owner Occupancy: 0
- Tax Year: 2024
- Parcel Number: 1-2-6-028-049-0370
- HOA YN: Yes
School Information
- Elementary School: Jefferson
- High School: Kaimuki
- Middle Or Junior School: Washington
Parking
- Parking Additional: 0
- Parking Features: None, Garage, Guest, Other, Secured Entry, Street
- Parking Total: 0
- Condo Parking Unit: NA
Property
Lot Information
- Building Name: Liliuokalani Gardens
- Floor Number: 18
- Property Type: Condo/Townhouse
- SQFT Roofed Living: 944.0
- Sqft Total: 944.0
- Land Recorded: Land Court
- Lot Size Area: 119659.0
- Year Built: 1984
Property and Assessments
- Appliances: AC Central, Cable TV, Dishwasher, Range/Oven, Refrigerator, Smoke Detector
- Photo Count: 13
- New Development Construction: No
- Property Condition: Excellent
- Special Listing Conditions: None
- Disclosures: Call Listor, Property Disclosure Stmt, See Remarks
- Foreclosure: No
- Fractional Ownership: No
- Supplement Count: 0
- TMK Area: 126
- TMK Condo Property Regime Number: 370
- TMK Division: 1
- TMK Parcel: 49
- TMKPLAT: 28
- TMK Section: 6
- TMK Zone: 2
Interior and Exterior Features
Exterior Features
- 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
- Construction Materials: Above Ground, Concrete
- Elevators Number Of: 4
- Flooring: Other
- Security Features: Key, Keyed Elevator, Security Patrol, Video
Interior Features
- Baths Full: 2
- Baths Half: 0
- Baths Total: 2.0
- Beds Total: 2.0
- Furnished: Partial
- Room Count: 0
Multi Family
Multi-Family Information
- Unit Features: Bedroom on 1st Level, Central AC, Even# Unit, Full Bath on 1st Floor, Single Level
- Unit Number: Apt II2412
Income & Expenses
- Maintenance Fee Amount: $.00
Agent
Sale and Listing
- DOM: 214
- Listing Service: Full Service
- Management Company Name: Touchstone
- Management Company Phone: (808) 566-4100
- MLS: HI Central
- MLS Area Major: Metro
- Status: Active
- Public Remarks: 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.
- Possession: At Closing, Negotiable
Showing and Remarks
- Showing Instructions: Call Listor
Rental
Rent Information
- Lease Expiration Year: 2039
- Lease Fee Month: $901.42
- Occupant Type: Tenant
Property History for 300 Wai Nani Way, Unit II2412
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 300 Wai Nani Way, Unit II2412
This home is within Hawaii Department Of Education.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | PK to 12 |
Rating | School | Distance |
|---|---|---|
President Thomas Jefferson Elementary School PublicPK to 5 | ||
President George Washington Middle School Public6 to 8 | ||
Kaimuki High School Public9 to 12 | ||
Hawaii School For The Deaf And Blind PublicPK to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.