Open House/Condo - August 3, 2014
Sunday 2:00 - 5:00 pm
Condominium Apartment #1102 (Two Bedrooms & One Bathroom)
Asking Price: $335,000.00 (Fee Simple)
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 and the YMCA complex; one block to the Ala Moana Shopping Center, Ala Moana Beach Park (Magic Island), Pacific Ocean,
and at the entrance to Waikiki.
The 11th floor apartment has a larger open Lanai.
This apartment has One Bedroom, plus a Sitting Room, or an Office, or a Second Bedroom. There is One Bathroom.
The apartment is available as fully-furnished (appliances & furniture) and is ready to move-in condition.
There is a Washer and Dryer in the apartment. The rooms have laminate/tile floors and/or wall to wall carpets.
Atkinson Towers is a secured building, with two elevators, and there is a Maintenance Manager.
The project has a pool (not heated), individual Owners' assigned storage/lockers. Parking Stall #80 is assigned to this unit, with a fixed lease-rent
at $46.22 per month, until Dec. 31, 2016. Basic cable TV (high-speed internet is available). No Pets are allowed, with the exception of
certified seeing-eye dogs.
Frequntly Asked Questions:
1. Is Atkinson Towers a Cooperative or a Condominium?
95%+ of the units have already been converted to Condominium,
but 8 of the units are still known at Co-op, so the project is known as ″Mixed-use″ building. Unit #1102 is a Condominium.
2. What about the views?
The swimming pool and the Ala Wai Canal can be seen from the Lanai.
The mountains, surrounding buildings and the Ocean can be seen from the Lanai or from the Living Room.
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.
The Owner/Seller MAY consider Seller Financing with an Agreement of Sale or Purchase Money Mortgage, with 10% down,
for 5 years, at 5% interest only payments, depending on the credit report/score and/or a financial statement.
This could save the Buyer upwards of $4,000 to $6,000 in points and closing costs.
There is a good chance, over the next 2-3 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, VA, etc.).
6. What have been the sales in Atkinson Towers as comps?
Unit #403 at $285K; Unit #504 at $299K; Unit #1004 at $310K; Unit #1403 at $314K;
Unit #1404 at $310K; Unit #604 at $315K; Unit #807 at $320K; Unit #1605 at $300K; and Unit #1502 at $339K.
Interior Area: 664 sq.ft. Plus: Open Lanai: 128 sq.ft.: Total 792 sq.ft.
Maintenance Fee: $465.25 / Other Monthly Fees (Parking Stall Lease Rent): $46.22
Total Monthly Fees/Charges: $511.47
Bedrooms: Two / Bathrooms:
One / Open Parking Stall #80
Your Host: Walt Flood, REALTOR ®
Walt Flood Realty ® * Cell: 808-783-7684 *
Office: (808) 922-1659
2092 Kuhio Ave., Home Office, Honolulu, HI 96815
E-mail: WaltFlood@gmail.com * Website: WaltFloodRealty.com/