Oahu Best Buy of the Week – $179,000 Koolau Vista B101 FS For Sale

I’ve told all my friends…well, not quite all, so I might as well tell you. This is a fabulous buy in one of the hottest towns of Oahu, Kailua! Hot in that you’ve got the beach, great shopping, and fabulous eateries around what they call “Kailua Town.” There is not a spot quainter, yet hip as this.

Kooalu Vista

In the midst of all the wonderful qualities this home, or investment at Koolau Vista has to offer, the numbers are crazy on this one. Besides the great use of space, storage, convenience of location, and great price, this potential gold mine could work its magic all over your portfolio. Whether buying a home or investment property, you have to look at it all as an investment, what’s the future potential return, the current return, ALL FACTORS.

In the past 6 years, these studio units have sold for as high as $235,000. That’s $56,000 worth of potential equity. This may or may not be true, but I truly believe that if it once sold for a price, it is likely to sell again for the same price. I couldn’t tell you the time frame though. The other great thing about this unit is that the potential rent should cover, at the very least, the mortgage, homeowner’s insurance, and maintenance fee, but it is likely to cash flow based on current rents.

Now, the downside…or upside, depending on your view point. As most of the owners of the units in this building are renting their units to tenants, the building currently has 39% owner occupancy, which makes any loan on this non-saleable, which means that banks have to issue a portfolio loan because other banks will not buy this loan from them. While that may be utterly confusing, it’s quite simple.

According to my sources, if you purchase this unit as an investor, 35% down will be required. Owner-occupants will have an easier time, and another great thing about this listing, is that this seller will finance part of the loan. Where can you get anything on Oahu, fee simple studio with parking, washer and dryer in-unit, AND storage under $200,000? Let me know if you have anything.

I think Yoda would agree: Great potential this one is.