Asking Price: $325,000.00 (FS) Sold Price: $325,000.00 (FS)
*Portfolio Loan with FHB (First Hawaiian Bank) - 30% down, for 15 years, at 5% interest.
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 6th floor apartment has an enclosed lanai that creates a larger living area.
This apartment has 3 Bedrooms and a Studio/Office room, with 1 Bathroom. Each room has its own closet and private door.
The apartment is partly
furnished, and has been recently renovated. There is a full-size Washer and Dryer in the apartment, ceramic tile in the entry way and living area,
and wall-to-wall carpets in all of four (4) rooms.
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.
Stop being a renter and become owner/resident of Atkinson Towers, Unit 601
Click on PDF logo to view PDF file showing advantages of owning property yourself
Frequntly 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-op, so the project is known as ″Mixed-use″ building. Unit #601 is a Condominium.
2. How many bedrooms?The MLS shows the 3-bedrooms, but the 4th ″room″ can be a small office or storage with a closet and a private door.
3. What about financing?Credit Unions, Central Pacific Bank, Bank of America, Wells Fargo and most of the Mainland Banks/Lenders won't write a mortgage on Atkinson Towers, because it's a ″Mixed-use″ project (Coops and Condos) and the parking lot is ?Leasehold?. But, Bank of Hawaii and First Hawaiian Bank will write a ″Portfolio″ loan at 20%-30% down for Owner Residents, higher for Investors.
4. YES.The Owner will consider a ″Seller Financing″ with an Agreement of Sale Mortgage, with 10% down, for 10 years, at 5% interest only payments, depending on the credit report/score and/or a financial statement. This could save the Buyer upwards of $6,000 to $9,000 in closing costs. Pre-payment penalty, after five (5) years is negotiable.
5. 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. All the financing will go back to Conventional (FHA, VA, etc).
6. What was the last sale in Atkinson Towers as a comp?Unit #1101 sold in November 2009 at $380,000.00 with a covered parking stall and it was/is highly upgraded and renovated.
7. What is included in the Maintenance Fees?Building/flood/fire insurance, Maintenance Manager and staff, water, electric, sewage, elevator maintenance and waste/trash removable contracts, and basic TV cable. The electricity (HECO) is not included for Unit #601.
8. What about air conditioning?It is possible to install A/C, with a split system, and/or portable window units, with AOAO approval.
9. Why are the owners selling this condo?The husband is about to retire from his job at the university and he wants to join his wife who is now living in their new home in Thailand. The Sellers are highly motivated.
Your Host: Grzegorz (Greg) Mroz, RA Walt Flood Realty ® * Cell: 808-393-5716 *
Fax: 1-866-912-8984 (Toll Free)
2092 Kuhio Ave., #1903, Honolulu, HI 96815
E-mail: WaltFloodRealty@gmail.com * Website: WaltFloodRealty.com/
* 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.