October 29th, 2008 categories: Honolulu Condominiums
On Monday of this week, a buyer client of mine closed one of the better deals I have seen in sometime. The unit is 2 bedroom 2 bathroom high floor apartment at the Mauna Luan Condominium in Hawaii Kai. It listed for $560,000 and closed at $509,000 (a 9.1% reduction in price!). In my opinion, the unit had the best remodel I have ever seen at the Mauna Luan. The kitchens, bathrooms, bedrooms, ceilings and just about anything you can think of were replaced in 2005. Though the Mauna Luan was built in 1975, this condo felt like it was brand new. I do not know how much the seller spent to put it in this condition, but it was easily $150,000 to $200,000 worth of work. It is difficult to tell, but at the peak of the market it may have sold at $600,000 (plus or minus $25,000).
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