WALT FLOOD REALTY
Condo #1108 (Two Bedrooms, Plus: Studio/Office, & One Bath)
OPEN HOUSE - February 23, 2020 (Sunday, 2:00 to 5:00 PM).
Asking Price: $495,000.00 (Fee Simple)
Stunning Ocean, Ala Wai Canal, City and Mountain Views!
Notice/Update: This will be the first time that a High Floor, End Unit with unobstructed Ocean, Harbor and Canal views, since the sale of unit #1208 at $425K in year 2009.
This 15 story high rise building is a block to the Hawaii State Convention Center; across the street from the Ala Moana Hotel; behind Yacht Harbor Towers and the YMCA complex (now closed); one block to the Ala Moana Shopping Center, Ala Moana Beach Park (Magic Island), Pacific Ocean, and at the entrance to Waikiki.
This 11th floor Condo apartment has a large enclosed Lanai. There are Two Bedrooms, a Studio and One Bathroom. Note: The Studio could be a Office, or a third Bedroom (145 sq.ft).
The apartment is partially furnished (appliances). There is a Washer and Dryer in the apartment. The rooms have laminate/tile, carpet, or hard wood floors.
Atkinson Towers is a secured building, with two elevators, and there is a Maintenance Manager. The swimming pool was removed, to create twelve (12) addtional parking stalls. There are Individual Owners' assigned storage/lockers on each floor. Basic cable TV, and High Speed Internet are included in the Maintenance Fees, No Pets are allowed, with the exception of certified seeing-eye dogs.
Frequntly Asked Questions:
1. Is Atkinson Towers a Cooperative or a Condominium? 98% of the units have already been converted to Condominium, but two (2) of the units are still known as Co-Op, so the project is known as ″Mixed-use″ building. Unit #1108 is a Condominium.
2. What about the Parking Stalls? There are two (2) options:
1. The new Owner submits a Parking License Leasehold Agreement for covered parking stall #34. Maintenance Fee becomes $873.00 per month including the parking stall.
2. The new Owner doesn't have a car, or doesn't want a Parking Stall on Atkinson Towers property. The Maintenance Fee will be $549.00 per month, starting on January 1, 2019.
3. What about financing? Credit Unions, Bank of America, Wells Fargo and most of the Mainland Banks/Lenders will NOT write a mortgage on Atkinson Towers, because it's a Mixed-use project (Coops and Condos). NEW - Announcement: Sandalwood Home Loans will write a conventional mortgage with 10%-20% down payment for 30-years fixed (Owner Occupants). Bank of Hawaii, Central Pacific Bank and First Hawaiian Bank will write a ″Portfolio″ Loan at 20%-30% down for Owner Occupants/Investors.
4. What about Seller's financing (Agreement of Sale)? Not available at this time.
5. Future? There is a good chance, over the next 2-3 years, all the Co-op stockholders will convert to Condominium, and the building will NOT be a mixed-use project. All the financing will go back to Conventional (FHA, etc.).
6. What are included in the Maintenance Fees? Building/Flood/Fire insurance, Resident Manager and staff, water, sewage, elevator maintenance and waste/trash removable contracts, and Basic TV cable, and High Speed Internet. The electricity (HECO) is paid by the Owner or Tenant for unit #1108.
7. What about air conditioning? It is possible to install A/C, with portable window units, with AOAU approval.
8. Why are the owners selling this condo? The Owners/Sellers, as Investors, want to down-size for retirement.
Click here: How To Buy Unit #1108. Read the step by step on making an offer (Purchase Contract) to buy Condo Unit #1108.
Purchase Contract: Sample as of November 2016. Fourteen (14) pages of the Hawaii Association of Realtors - Sales Contract (important to read if you are considering an Offer to Buy.)
"AS IS" Condition Addendum: Sample as of September 30, 2018. One (1) page of the Hawaii Association of Realtors - (important to read if you are considering an Offer to Buy.)
Click here for Multiple Picturestaken from inside #1108, a view of the building, views to the Ocean and to Waikiki.
Map to Atkinson Towers
Your Host: Walter Flood, REALTOR ®, PB, DIR, SRES, MRP, RSPS
Walt Flood Realty ® * Phone: 808-922-1659 * USA & Canada Phone: 1-855-922-2462 (Toll Free)
2092 Kuhio Ave., Home Office, Honolulu, HI 96815-2134
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