WALT FLOOD REALTY
Condo #406 (Two Bedrooms & One Bath)
FOR SALE - as of February 18, 2018
Asking Price: $325,000.00 (Fee Simple)
Notice: This is the lowerest price For Sale, over the last eight (8) months.
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; one block to the Ala Moana Shopping Center, Ala Moana Beach Park (Magic Island), Pacific Ocean, and at the entrance to Waikiki.
This 4th floor Condo apartment has a large open Lanai, at 128 sq.ft. There are Two Bedrooms, One Bathroom and storage locker in the storage room, next to the elevator.
The apartment is partially furnished (appliances). There is a Washer in the apartment, but the Dryer needs to be replaced. The rooms have "new" wall to wall carpet.
Atkinson Towers is a secured building, with two elevators, and there is a Maintenance Manager. There are Individual Owners' assigned storage/lockers on each floor. Basic cable TV and high-speed internet service is 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 three (3) of the units are still known as Co-op, so the project is known as ″Mixed-use″ building. Unit #406 is a Condominium.
2. What about the Parking Stalls? There are three (3) options:
1. The new Owner submits a Parking Agreement to rent a parking stall from the Atkinson Towers Inc. If a parking stall is rented the Maintenance Fee becomes $748.00 per month including the parking stall.
2. The new Owner may -- prefers to rent a parking stall at Yacht Harbor Towers at $125.00/month, if available. The total of Atkinson Towers MF and YHT parking stall is estimated to be: $548.00 per month.
3. The new Owner can submit a application to rent a parking stall on the Char Property, adjacent to the Atkinson Towers, on their Waiting List, currently at $150.00/month. The Maintenance Fee ($423.00) and the parking stall ($150) equals: $573.00 per month. The new Owner doesn't have a car, or doesn't want a Parking Stall on Atkinson Towers property. The Maintenance Fee will be $423.00 per month.
Disclosure: There is no guarantee that parking stalls at Yacht Harbor Towers and on the Char Property will be available for long-term and the monthly rent can be increased.
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 1-2 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 have been the sales in Atkinson Towers as comps? Unit #704 at $340K; Unit #701 at $345K; Unit #803 at $347.5K; Unit #501 at $380K; Unit #901 at $380K; Unit #1401 at $390K; Unit #1205 at $415K.
7. What are included in the Maintenance Fees? Water, Sewage, Waste/Trash removable, and Basic TV cable with High Speed Internet service. The electricity (HECO) is paid by the Owner or Tenant for unit #406.
8. What about air conditioning? It is possible to install A/C, with portable window units, with AOAU approval.
9. Why are the owners selling this condo? The Owner/Seller, as an Investor, want to down-size for retirement.
Click here for Multiple Picturestaken from inside #406, and other views.
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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