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This 15 story high rise building is a block to the Hawaii State Convention Center; across the street from
the Ala Moana Hotel/Condo; 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.
Tenant-occupied, with the rental lease to expire in July 2011. Call the listing Agent for more information
about financing.
Large one bedroom, with the option to add a second bedroom. Location, location, location! Ala Moana
Shopping Center, one block to the ocean/beach, and to Waikiki. Parking stall #10 is leasehold with the rent of $46/month until 12/31/2016.
Seller is highly motivated with a selling price $37,000 below the Honolulu City & County Tax Assessed Value. Unit #306 is converting from
Co-Op to Condominium, at the Seller's expense.
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. Basic cable TV (high-speed internet is available).
No Pets are allowed, with the exception of certified seeing-eye dogs.
For more information about the building, condo documents, pictures, and more go to
www.AtkinsonTowers.org
Frequently Asked Questions:
1. Is Atkinson Towers a Cooperative or a Condominium?
80%+ of the units have already been converted to Condominium, but 20 of the units are still known at Co-ops, so
the project is known as ″Mixed-use″ building. Apartment unit #306 is a Co-op, but is in the process of converting to a Condominium, at the
Seller's expense.
2. Future?
There is a good chance, over the next 5-7 years, all the Co-op stockholders will convert to Condominium, and
the building will NOT be a ″Mixed-use″ project. The financing could/should go back to Conventional mortgages (FHA, VA, etc).
3. What about financing?
Credit Unions, Central Pacific Bank, 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 (Co-ops and Condos). But, Bank of Hawaii and
First Hawaiian Bank WILL write a ″Portfolio″ loan at 20% - 30% down for Owner Residents, higher for
Investors.
4. What about Seller's financing?
Agreement of Sale and Purchase Money Mortgages can be offered to the Buyers, with 5%, 10% - 20% down and terms
of 4-7-10 years, but the Seller of this Condo #306 knows that she can only sell for cash or bank financing.
5. Should you preview Atkinson Towers units?
YES, if you are ″cash buyer″, but NOT if you are looking to finance, unless you have received
a ″pre-qualification″ letter from either Bank of Hawaii or First Hawaiian Bank.
6. What was the last sale in Atkinson Towers as a comp?
Unit #907 sold in November 2010 at $ 314,000 - one bedroom, one bath with one parking stall.
7. What is included in the Maintenance Fees?
Building/flood/fire insurance, Maintenance Manager and staff, water, building electric, sewage, elevator maintenance,
waste/trash removable contracts, and basic TV cable. The electricity (HECO) is not included in the Maintenance Fees.
8. Why are the owners selling this Condo?
The owner/seller is about to retire and wants to reduce her real estate rental properties/investments.
9. How many bedrooms?
The MLS shows 1-bedroom, but the 2nd bedroom can be installed (built) in the living room area, with a small
entrance hallway.
10. What about the parking stall leasehold?
All the parking stalls are leasehold and the lease expires on Dec. 31, 2016. There are three (3) options on
how to continue offering parking stalls for owners of the condos. Please ask the Listing Broker.
11. What is the Association Reserve Account for 2011?
Read this document on http://www.AtkinsonTowers.org/ along with other Condo Docs.
Note: All information contained herein is obtained from sources deemed reliable, no representation is made as
to the accuracy thereof, and it is submitted subject to errors, omissions, changes and withdrawals without notice (5/08/2011).
Generic Purchase Contract.
Twelve pages of the Hawaii Association of Realtors (important to read if you are considering
an Offer to Buy - Purchase Contract © 2009 HAR.) Note: This document can only be used/completed by a Realtor.
House Rules
to read the House Rules, as of March 2006, and other documents.
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