Leasehold property. Beautiful Ocean and Golf course view Condo at Pali Ke Kua, Princeville, Kauai!
Pali Ke Kua #236 is a 2BR/2BR top floor unit with great views and tropical breezes facing north-east! Drink a cup of coffee in the morning sun on the covered lanai and watch the humpback whales frolic in the blue Pacific, enjoy a Mai Tai and a delicious outdoor BBQ in the cool evenings. Pali Ke Kua is a popular vacation rental destination, and this unit has been used as a short-term rental for many years managed by Kauai Vacation Rentals. The condo makes a great second home on Kauai and is sold fully furnished. On-site amenities include a hot tub and swimming pool area, a private paved path to a sandy cove below, a dinner restaurant called Hideaways Pizza Pub, and mature tropical landscaping throughout. A short stroll down the road takes you to the #1 Hotel Hanalei Bay which is scheduled to reopen in spring of 2022. The Makai Tennis and Golf Facility is located a few minutes up the road. Walking and bike-riding trails throughout the Princeville Resort Community lead all the way up to the Princeville Shopping Center.
This property is in Leasehold ownership (you don’t own the proportionate land that belongs to this unit) and the lease rent terms are as follows:
• Current lease rent until 2025: $1,483.42 per month ($8,900.52 paid two times per year, total lease rent $17,801.04)
• Next lease renegotiation: 2025 (for another 10-year term)
• Lease expiration: 2040 (surrender clause applies, currently the leased fee interest is not for sale)
• Lessor: Medusky & Co. Inc. Honolulu