1 bed/1 bath

683 SF Living

1 Parking

Fair condition

Full interior remodel

(LH) Lease Hold

Expires 12-31-2039

Lease Rent: $406

Maintenance: $865

ARV: $320,000

Starting Price: $220,000

Discovery Bay in Waikiki is a leasehold property with the owner's association currently owning approximately 94% of the leased fee. An owner’s purchase of its share of the AOAO’s leased fee would convert its apartment to 94% fee simple. After your purchase of 93.786% of the leased fee (for approximately $126,000), your new lease rent for the 6.214% owned by the Fee Simple Co-Tenant would range from $15-$60 per month until December 31, 2029. After this, it will become $20-$80 per month until the end of lease on December 31, 2039.

Remaining 6.214% of the Fee will be available to purchase before Lease expires. Appraisal will be done to determine Fee purchase amount for the remaining Fee which will reflect 6.214% of the fee.

Tax Link:

https://qpublic.schneidercorp.com/Application.aspx?AppID=1045&LayerID=23342&PageTypeID=4&PageID=9746&Q=795985483&KeyValue=260120100404

Inspection Report and Picture Link:

https://drive.google.com/drive/folders/10oLr9LFtqvpcDfFSvHufVFTmTGBHx9AY

Buyer to pay for all title/escrow fees at closing, which is currently scheduled for on or before 1-12-24. This property will be vacant at closing. Contact us to purchase.

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