Property Description:
FEE SIMPLE!!!! Stunning ocean front, historic property on the most beautiful side of Oahu. This is your piece of paradise. Enjoy your drive through the most beautiful, lush tropical side of the island. Bask on a lounge chair and enjoy the sound of the waves in your own backyard. Enjoy the moonlit nights and the sleeping Honu on our beach. Stunning, fully furnished property with 24 hour on-site security. All major maintenance is about 85% complete to include new pipes thruout entire building, gym, BBQ area, new wastewater treatment plant, new onsite generator, water heater, new washer dryer in unit, new toilet. Currently being used as a nightly rental bringing in approximately $5,500 a month (during construction). Other work in progress includes landscaping, lava rock wall, gated entrance, new guard shack, new parking lot, updated 8th floor meeting room with floor to ceiling windows and kitchennette, gated entrance, new surfboard storage, new painting, waterproofing and railings just to name a few! We are lucky enough to have The Bus stop right in front of our property, which you can load your surfboards and bikes and travel a few minutes to Waimea Bay and the world famous Banzai pipeline to view 40+ foot waves and world class surfing competitions. This is the best, most convenient way to travel as there is NO parking anywhere during these events. The property has appreciated 400% over the last two years and upon completion of all of these items I expect these units to increase at a much more substantial rate. Get in now before the price surge goes higher. There are other potential commercial opportunities available at this property to include retail stores, a restaurant, bar, cocktail, lounge, etc. Contact me for more info. This is a buy and hold property. The income currently covers the expenses plus a little extra. More if you self manage. I reserve the right to change the price as value increases. seller finance considered with $150k down, assumption of current mortgage $125k @3.25%, ($729/mo incl tx/ins)