Hawaii Living

Discovery Bay #1718 (Waikiki)

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  • Sold 5/18/18 at $215,000
    (List Price: $219,000)
  • Beds: 1
  • Baths: 1
  • Living: 683 sqft
  • Tenure:Leasehold ?
  • Leasehold Expiry: 12/31/39
  • Lease Rent: $ 391 / month
  • Fee Purchase: Not available
  • Balcony: 86 sqft
  • Built: 1977
  • Parking: 1
  • Maint. (HOA) Fees: $712 / month
  • Property Taxes: $131 / month ?
  • Est. Mortgage: $739 /mo - adjust loan
  • Days on Market: 71 days
  • Status: Sold
  • Buy without visiting ?
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1778 Ala Moana Blvd #1718, Honolulu

This property was sold May 18, 2018 for $215,000
Description
New Price! Located in gateway of Waikiki, Discovery Bay is a well maintained beautiful building, walking distance to beaches, bus lines, many restaurants and world famous Ala Moana Shopping Center. Enjoy a quiet mountain view and cool breeze. Association owns 62% of the beneficial fee interest with ongoing negotiations to purchase the remaining 38% to make the building Fee Simple. Fully furnished, newly re-glazed tub. Last tenant paid $2300/month. Sold AS-IS.
Past Activity
  • May 18, 2018 Sold for $215,000
  • Apr 27, 2018 In Escrow
  • Apr 12, 2018 Price $219,000
  • Feb 15, 2018 Listed at $225,000
  • Jun 30, 2017 Withdrawn
  • Jun 09, 2017 Temp. Withdrawn
  • May 22, 2017 Price $219,000
  • Apr 05, 2017 Listed at $225,000
  • Mar 04, 2013 Listed at $210,000
More Details
  • HOA Fees / Interior Sf: $1.04
  • Price / Interior Sf: $321
  • HOA Fees Include: Cable TV, Hot Water, Sewer, Water
  • Owner, Tax & Resale History: Click here
  • Zoning: X2 - Apartment Precinct
  • Elementary School: Jefferson
  • Middle School: Washington
  • High School: Kaimuki
  • Any View: City, Mountain
  • Owner Occupancy: 38%
  • Management Company: Hawaiiana Management
  • Security Features: Key, Security Patrol, Video
  • Amenities: BBQ, Exercise Room, Patio/Deck, Pool, Resident Manager, Sauna, Security Guard, Trash Chute, Whirlpool
  • TMK: 1-2-6-12-10-420
  • Tax Assessed Land: $27,800
  • Tax Assessed Improvements: $420,100
  • Tax Assessed Total: $447,900
  • Courtesy: Century 21 iProperties Hawaii
  • MLS: 201804168
Related Articles
The MLS properties are based on information from the Multiple Listing Service of Hicentral MLS, Ltd. Listings last updated on June 15, 2021. Information is deemed reliable but not guaranteed.
About Discovery Bay
  • Address: 1778 Ala Moana Blvd, Honolulu, HI 96815.
  • Built in 1977 with 633 Units on 42  Floors, Studio & 1 to 3BR Floor plans, Pets: OK (verify).
  • Amenities include Pool, Exercise Room, Sauna, BBQ Area, Many restaurants on bottom floors.
  • The homeowners' association has purchased a 62% interest in the Fee.

Updates
The AOAO at Discovery Bay has an approximate 62% interest in the land and there are ~6 other interested parties holding the remaining 38% interest in the land. The AOAO is interested in buying these parties out, which, if successful, would give the AOAO an ability to work towards offering the owners the fee.
Upon lease expiry - year 2039 - all parties with an interest in the land have to come to an agreement. Since the owners have an interest in the fee, they cannot be asked to vacate their unit, as is the case with many leasehold properties. 

About Discovery Bay
The Discovery Bay condo is another of Waikiki's dual streng  ....click here to read more
Description
New Price! Located in gateway of Waikiki, Discovery Bay is a well maintained beautiful building, walking distance to beaches, bus lines, many restaurants and world famous Ala Moana Shopping Center. Enjoy a quiet mountain view and cool breeze. Association owns 62% of the beneficial fee interest with ongoing negotiations to purchase the remaining 38% to make the building Fee Simple. Fully furnished, newly re-glazed tub. Last tenant paid $2300/month. Sold AS-IS.
The MLS properties are based on information from the Multiple Listing Service of Hicentral MLS, Ltd. Listings last updated on June 15, 2021. Information is deemed reliable but not guaranteed.
  • Address: 1778 Ala Moana Blvd, Honolulu, HI 96815.
  • Built in 1977 with 633 Units on 42  Floors, Studio & 1 to 3BR Floor plans, Pets: OK (verify).
  • Amenities include Pool, Exercise Room, Sauna, BBQ Area, Many restaurants on bottom floors.
  • The homeowners' association has purchased a 62% interest in the Fee.

Updates
The AOAO at Discovery Bay has an approximate 62% interest in the land and there are ~6 other interested parties holding the remaining 38% interest in the land. The AOAO is interested in buying these parties out, which, if successful, would give the AOAO an ability to work towards offering the owners the fee.
Upon lease expiry - year 2039 - all parties with an interest in the land have to come to an agreement. Since the owners have an interest in the fee, they cannot be asked to vacate their unit, as is the case with many leasehold properties. 

About Discovery Bay
The Discovery Bay condo is another of Waikiki's dual streng  ....click here to read more
 
You do not own the land, but have the right to use the land until an expiration year. At expiration the ownership typically reverts back to the land owner.
Leasehold Expiry: 12/31/39
Buyer and Seller have reached an agreement and are under contract. However, the sale is still subject to one or more contingencies.
We have handled many transactions for clients who purchase Hawaii real estate without visiting. By request, we can prepare thorough property videos to ensure you are familiar with every detail necessary. All documents can be signed remotely.
Buyer and Seller have reached an agreement and are under contract. The sale is expected to close / record soon.
We will be happy to work with you as a Buyer's agent. Call us to learn more: 808-943-9000.
Note: A Seller's agent has a fiduciary responsibility towards the Seller. Working with a Buyer's agent objectives and goals are aligned, at no cost to you, the Buyer.
Other fees could be a special assessment, reserve contributions etc.
DOM = Days On Market. Our site shows listings immediately. A brand new listing may show DOM 2 or 3 days, if listing agent did not upload the same day listing agreement was executed.
Includes estimated monthly mortgage payment, maintenance / HOA fees & property taxes. The estimate does not include insurance premiums.
Learn more about Oahu property taxes here.