Happy Thanksgiving and Aloha! Today, I am thankful for my family, friends & clients, my health, my home and living in Hawaii, and for my latest sale, which closed yesterday.
This lovely Honolulu condominium home was just sold by Home Shoppe Hawaii for $196,000 Fee Simple. It is a gorgeous, remodeled downtown Honolulu studio with one covered parking spot in the Ward Kinau building. The seller used hardwood cabinetry, a variety of exquisite granite and marble, kohler fixtures, custom room darkening draperies, and other upgrades to make this one of the nicest studios I’ve ever seen!
An investor can get into a Honolulu condo at this price point for about 30% down, or about $59K. This particular condominium could rent for around $1500/mo, due to the high level of upgrades. (NOTE: Most studios are more in the $900-$1300 range, depending upon location, conditon, and amenities, though some in better locations near the water/beach, etc. can go for up to about $2200/mo.) With a monthly maintenance fee of $300 and a mortgage payment of about $650/mo, this gives you net income of $550/mo, assuming you self manage and exclusive of maintenance expenses, which should be minimal. $6,600 a year is a pretty great annual return on a $59K investment, don’t you think? My client thought so!
If you’re interested in learning more about investing in Oahu real estate in Honolulu, Hawaii, please do not hesitate to call Yvonne at 808-721-8088. ~ Aloha