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Friday, September 2, 2011

Open house pick of the week: Waikiki

Remember the cluster of old, dilapidated apartment buildings at the end of the Ala Wai? Built around 1950, they had fallen into extreme disrepair and had become an eyesore for the area.

Fast forward to just a few years ago: The neighboring Watermark project bought one of the low rises to help extend their property, and extensive renovations commenced on the remaining four. The exteriors were painted and colorful landscaping was installed to create a park-like setting. (Click here for details.)

Two of the buildings comprise Hawaiiana Gardens and two make up Marina Gardens. The project will open to the public this Sunday, September 4, with several models available for viewing. East Oahu Realty is providing the sales team.

Most (but not all) of the 72 one-bedroom units were upgraded and are already rented out, so if you are looking for an investment property, the tenants are already built in. Although they are all identical 445-square-foot units, the prices—starting at $199,000—vary depending on location and the amount of renovations done.

As you can see, the transformation has been quite dramatic to the upgraded units. People who remember the previous condition of these buildings are visiting the models just to see what could be done with small spaces in older buildings.

“The residents here say it’s a close-knit community,” says Jim Meuer, one of the realtors on the sales team. “It’s like its own neighborhood-within-a-neighborhood.”


Every unit comes with an HO6 insurance policy (basically, condo insurance) and upgrade packages to renovate are available.

The sales office will be open Wednesdays through Sundays from 10 a.m. to 4 p.m. For more information, call 808-951-8821.

Happy house hunting!

Posted on Friday, September 2, 2011 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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