Hawaii Living

Discovery Bay #3812 (Waikiki)

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1778 Ala Moana Blvd #3812, Honolulu

This property was sold March 12, 2021 for $235,000
Description
Ocean, Diamond Head, mountain and city views. High floor, great price with fabulous views. Desirable, versatile enclosed lanai upgrade, in conveniently located Discovery Bay. Close to beach, dining, shopping, bus-line and more. Building has a 30 day minimum rental requirement. AOAO currently owns approximately 62% of the beneficial fee interest. Lease rent is paid quarterly.
Past Activity
  • Mar 03, 2021 Sold for $235,000
  • Feb 18, 2021 In Escrow
  • Feb 14, 2021 Listed at $235,000
More Details
  • Owner, Tax & Resale History: Click here
  • HOA Fees / Interior Sf: $1.02
  • Price / Interior Sf: $306
  • HOA Fees Include: AC Central, Cable TV, Hot Water, Other Common Expenses, Sewer, Water
  • Zoning: X2 - Apartment Precinct
  • Elementary School: Jefferson
  • Middle School: Washington
  • High School: Kaimuki
  • View: City, Diamond Head, Mountain, Ocean, Sunset
  • Owner Occupancy: 40%
  • Management Company: Hawiiana Mgt
  • Security Features: Key, Security Patrol, Video
  • Amenities: BBQ, Exercise Room, Patio/Deck, Pool on Property, Resident Manager, Sauna, Security Guard, Trash Chute
  • TMK: 1-2-6-12-10-624
  • Tax Assessed Land: $11,900
  • Tax Assessed Improvements: $516,700
  • Tax Assessed Total: $528,600
  • Courtesy: Captain Cook Real Estate
  • MLS: 202103995
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
    Ocean, Diamond Head, mountain and city views. High floor, great price with fabulous views. Desirable, versatile enclosed lanai upgrade, in conveniently located Discovery Bay. Close to beach, dining, shopping, bus-line and more. Building has a 30 day minimum rental requirement. AOAO currently owns approximately 62% of the beneficial fee interest. Lease rent is paid quarterly.
    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.