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Tuesday, May 22, 2012

Cozy studio in the heart of Waikiki

What a cool bachelor pad! That’s the first thing I thought when I came across this one-bathroom studio. Located in Kuhio Village 2 on Prince Edward Street, it’s just two blocks from the beach and walking distance to all that Waikiki has to offer.

At just 286 square feet, the unit is cozy, to say the least. However, the owner, who purchased the unit in 2006, has renovated the space with attractive laminate flooring, new appliances in the kitchenette and a full-size Murphy bed to better use the space. Click here for details.

I say “kitchenette” because there’s no full-size oven or range top. Instead, there’s a combination microwave/convection oven and a hot plate next to the sink, plus a range hood over the area to help disperse heat.

Another feature that makes this corner condo feel less Lilliputian is the two lanais that add 106 square feet to the total – ­ one is off of the living area, with enough room for a bistro table; the other is smaller and off the kitchen.

OK, the straight talk: This property is leasehold, which means you wouldn’t own the land the building sits on. The lease expires in 2033. There’s something else to pay attention to ­ – the lease is up for renegotiation in February of next year, so the lease rent will likely increase.

Even with a rent increase, the current monthly rent ($124) and the maintenance fee ($425) would make it affordable.

“Someone can still purchase the property and have cash flow,” says realtor Ann Arakawa. But you might want to act quickly, it’s been on the market a week and an offer has already been submitted.

There is a washer/dryer tucked in the unit, as well as community laundry in the building. The maintenance fee offers the usual, with notable inclusions ­ – electricity and Internet service.

Fuzz factor: No pets for now, but the leasehold tower is going through the process to allow them (the other tower is fee simple and pet friendly).

No parking for you or any guests, but you’d be in the heart of Waikiki, so what do you need a car for? Actually, you can rent a space if need be. For a virtual tour, click here.

Money talk: $78,500 leasehold
Contact:  Ann Arakawa, Ann M. Arakawa, REALTOR, 808-398-2022, arakawaa004@hawaii.rr.com
MLS#: 1205532

Posted on Tuesday, May 22, 2012 in Permalink

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About This Page

Honolulu Real Estate focuses on the Hawaii housing market, condos and homes for sale, Hawaii rentals and general news about real estate in Hawaii. It also includes stories on apartment living, home decor and profiles.
 


Melissa Chang graduated from the University of Hawaii with a degree in journalism and has been blogging since 2007, mostly on food and travel. She works primarily in social media, so you can find her online @Melissa808 on Twitter and Instagram.


 


Jaymes Song is a real estate agent at Prudential Advantage Realty in Kahala. Jaymes is in the top 7 percent of Prudential agents nationwide. Previously, Jaymes was at The Orange County Register, Honolulu Star-Bulletin and rose through the ranks to overseeing news and operations for AP in Hawaii and the Pacific Rim. Jaymes lives in the Portlock area and loves his real full-time job of being dad to two curious kids.


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