Four Paddle Condo #1701
SOLD (in Escrow as of Oct. 30, 2015)
One Bedroom and One Bathroom
Sold Price: $465,000.00 (FS)
This 25 story high rise building is a few blocks to the Pacific Ocean, in the middle of Waikiki within walking distance to most of the shops, Restaurants, entertainment clubs, and on the Bus line right in the front of the building.
The 17th floor Condominium has One Bedroom and One Bathroom. The interior size is 577 sq.ft., with the open Lanai at 55 sq.ft. for a total of 632 sq.ft., which is the largest size in the building - as an End Unit.
The apartment is available with most of the appliances. The rent was $1950/month (one year lease). There is a stacked Washer and Dryer in the apartment. The rooms have wall to wall carpets. The bathroom and the kitchen have laminate or tile floors.
Four Paddle is a secured building, with three elevators. There is a Resident Manager, and Security Guards on duty 24/7. The project has a heated pool and a Jacuzzi Spa (Hot Tub), Men & Women Saunas, and individual Owners' assigned storage/locker. There are two (2) assigned covered Parking Stalls: #1701 and "H", and they both are just steps to the 2nd floor elevators. Television cable and High-speed Internet are available). Four Paddle is Pet Friendly, pets are allowed, with restrictions.
Note: It's important to tell all prospects, guests, tenants, eveyone that Four Paddle is 100% Smoke Free; meaning that no one can smoke anywhere in the Building, on the Rec Deck, Parking decks, Lobby, even in indivdual condo apartments.
Frequntly Asked Questions:
1. What happens now? The Owner/Seller will take back-up offers, just in case this deal falls out of Escrow. The Real Estate agent will take contact information from any interested party who would like to be informed when the next Four Paddle Condo comes on the market.
2. What have been the sales in the Four Paddle as comps? Unit #1109 at $415K; Unit #1202 at $420K; Unit #2212 at $428K; Unit #2210 at $430K; Unit #2511 at $448K; Unit #1901 at $450K; Unit #2412 at $489K, and Unity #1701 at $465K.
2. What about financing? Most of the Mainland Banks/Lenders won't write a mortgage on Four Paddle because the Owner Ocupancy is less than 50%. LENDERS: Bank of Hawaii, First Hawaiian Bank and Wells Fargo will write a ″Portfolio″ loan at 20%-30% down for Owner Occupants/Investors.
3. VA Financing - NEW The VA has approved Four Paddle for VA Financing, at 4.00% Fixed rate for 30 years, Zero percent (0.0%) Down Payment (Based on Credit Score).
4. Vacation/Holiday Rentals This condo does not have the City and County of Honolulu Conditional Use Permit which allows for rentals of less than 30 days. Therefore rentals have to be more than 30 days, or six months or longer.
5. Renting parking stalls. The House Rules prohibit rental of parking stalls to non-Four Paddle residents.
6. Pet Policy. Owners or Tenants can keep two pets weighing less than 25 pounds or not exceeding a height of 15 inches.
7. What are included in the Maintenance Fees? Building/Flood/Fire insurance, Resident Manager and staff, water, electric, sewage, elevator maintenance and waste/trash removable contracts. Electricity (HECO) and Air Conditioning are included for all the units. TV cable and High Speed Internet service are available at a cost to the Owner/Tenant.
Area: 577 sq.ft. Plus: Open Lanai: 55 sq.ft.: Total 632 sq.ft.
* All information contained herein is obtained from sources deemed reliable, no representation is made as to the accuracy thereof, & it is submitted subject to errors, omissions, changes & withdrawals without notice.
Walter W. Flood (REALTOR ®), Walt Flood Realty (R)