Liliuokalani Gardens Condominium

300 Wai Nani Way Apt Ii2412, Honolulu, Oahu 96815 Get Directions

$450,000

 

Bedrooms
2
Full Baths
2
Total SqFt
944
Lot Size Area
119,659 SqFt
Land Tenure
Fee Simple
MLS #
202400403
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Overview

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.

Property Details

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
Building Name
Liliuokalani Gardens
Construction Materials
Above Ground, Concrete
Floor Number
18
Flooring
Other
Furnished
Partial
Neighborhood
Waikiki
Parking Features
None, Garage, Guest, Other, Secured Entry, Street
Property Type
Residential
Security Features
Key, Keyed Elevator, Security Patrol, Video
Living Area SqFt
944
Total SqFt
944
Status
Active
Unit Features
Bedroom on 1st Level, Central AC, Even# Unit, Full Bath on 1st Floor, Single Level
View
Canal, Garden
Year Built
1984

Additional Property Info

Disclosures
Call Listor, Property Disclosure Stmt, See Remarks
Days on Market
4
Elementary School
Jefferson
Flood Zone
Zone AE
High School
Kaimuki
Lease Expiration Date
10/31/2039
Lease Fee Month
$901
Lease Renegotiation Date
11/01/2024
Middle/Junior School
Washington
Property Condition
Excellent
Tax Assessed Value
$708,400
Tax Assessed Value Improvements
$516,300
Tax Assessed Value Land
$192,100
Zoning
X2 - Apartment Precinct

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Listing Courtesy of Compass Courtesy of Tom Presler, Compass.
Based on information from the Multiple Listing Service of HiCentral MLS, Ltd. Information is deemed reliable but not guaranteed. Copyright 2025 by HiCentral MLS, Ltd.

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