Just Sold Kauai Beach Resort 2301
I just represented the buyers on Kauai Beach Resort 2301. They paid $22,400 for this Bank-owned (REO) condo/guestroom at the Kauai Beach Resort. The Buyers got an incredible buy on this condo for sale with this corner unit in the main building with mountain views, air conditioning and developer furnishings. The previous owners paid $239,000 in March, 2006 for this unit.
The hotel underwent a major renovation in 2006 and 350 fully furnished guest rooms were offered as condos for sale priced from $235,000 to over $400,000. The hotel was managed by Hilton in 2006-2009 and is now being managed by Aqua Resorts. The Kauai Beach Resort is located on Kauai's east side on a 3 mile stretch of beautiful beach. It is a deluxe 5 story oceanfront resort that offers a tropical setting right on the Pacific Ocean and located north of the town of Lihue, Hawaii and 5 minutes from the Lihue Airport. Surrounded by exotic lagoons, cascading waterfalls and lush tropical settings, the Kauai Beach Resort offers a central, convenient location close to the airport, shopping, championship golf and all of Kauai's great activities and adventures. Here is the website for Kauai Beach Resort: http://www.kauaibeachresorthawaii.com/
Interested in owning at Kauai Beach Resort? Currently there are 4 Kauai Beach Resort REOs or Short Sale condos for sale for under $50,000. Call me if you want to take advantage of these great buys.
The AOAO (Association of Apartment Owners) costs are $918 per month and around $50 per month for property taxes. The AOAO and Property Taxes are your ownership expenses. Separate from owning the property you can choose to put the unit into any rental program. Aqua Resorts is an on-site rental program. In the recent past, the rentals have not generated enough income every month to cover the owner AOAO and property tax expenses but I believe that Aqua has cut costs and increased revenue so the outlook is promising.
There has been lots of activity for these condos for sale. 28 are of the units are contingent (sale pending) and 5 have sold this year.