Hawaii Living

Discovery Bay #2502 (Waikiki)

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  • Sold 5/11/21 at $292,000
    (List Price: $299,000)
  • Beds: 1
  • Baths: 1
  • Living: 683 sqft
  • Tenure:Leasehold ?
  • Leasehold Expiry: 12/31/39
  • Lease Rent: $ 406 / month
  • Fee Purchase: Not available
  • Balcony: 86 sqft
  • Built: 1977
  • Parking: 2
  • Maint. (HOA) Fees: $778 / month
  • Property Taxes: $136 / month ?
  • Est. Mortgage: $1,008 /mo - adjust loan
  • Days on Market: 48
  • Status: Sold
  • Buy without visiting ?
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1778 Ala Moana Blvd #2502, Honolulu

This property was sold May 11, 2021 for $292,000
Description
Beautiful high floor unit comes with TWO parking stalls #7-15 and #6-99. Fabulous ocean and Marina views, fully renovated 1-bedroom 1-bath located at the prefer Endeavor Tower. Spacious lanai for relaxation. AOAO owns 62% of the beneficial fee interest and continue negotiations of the remaining 38% to make this a fee simple building. 24/7 security, well maintained building with wonderful amenities: Pool, Jacuzzi, 2 exercise rooms, Sauna, 8 BBQ stations and a large sun deck for relaxation.
Past Activity
  • May 11, 2021 Sold for $292,000
  • Apr 05, 2021 In Escrow
  • Feb 16, 2021 Listed at $299,000
  • Dec 03, 2020 Expired
  • Dec 02, 2019 Listed at $299,000
  • Nov 24, 2017 Sold for $249,000
  • Oct 14, 2017 In Escrow
  • Oct 02, 2017 Price $249,000
  • Aug 24, 2017 Price $288,000
  • Jul 07, 2017 Listed at $299,000
More Details
  • Owner, Tax & Resale History: Click here
  • HOA Fees / Interior Sf: $1.14
  • Price / Interior Sf: $438
  • HOA Fees Include: Cable TV, Hot Water, Internet Service, Other Common Expenses, Sewer, Water
  • Zoning: X2 - Apartment Precinct
  • View: City, Coastline, Marina/Canal, Ocean, Sunset
  • Owner Occupancy: 30%
  • Management Company: Hawaiiana
  • Security Features: Key, Security Patrol, Video
  • Amenities: BBQ, Exercise Room, Patio/Deck, Pool on Property, Recreation Area, Resident Manager, Restaurant, Security Guard, Trash Chute, Whirlpool
  • TMK: 1-2-6-12-10-162
  • Tax Assessed Land: $28,200
  • Tax Assessed Improvements: $438,300
  • Tax Assessed Total: $466,500
  • Courtesy: Marina Hawaii Vacations
  • MLS: 202104120
Blog
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    The MLS properties are based on information from the Multiple Listing Service of Hicentral MLS, Ltd. Listings last updated on September 23, 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
    Beautiful high floor unit comes with TWO parking stalls #7-15 and #6-99. Fabulous ocean and Marina views, fully renovated 1-bedroom 1-bath located at the prefer Endeavor Tower. Spacious lanai for relaxation. AOAO owns 62% of the beneficial fee interest and continue negotiations of the remaining 38% to make this a fee simple building. 24/7 security, well maintained building with wonderful amenities: Pool, Jacuzzi, 2 exercise rooms, Sauna, 8 BBQ stations and a large sun deck for relaxation.
    The MLS properties are based on information from the Multiple Listing Service of Hicentral MLS, Ltd. Listings last updated on September 23, 2021. Information is deemed reliable but not guaranteed.

    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.