Deal: 3 Bedroom, 2 Bath Regency Park Condo in Honolulu

I’ve got a rare 3 bed, 2 bath listing available at Regency Park in Honolulu and would like to share with you 3 reasons why this is such a great value:

Rare 3 bed, 2 bath listing (MLS# 201402346) in Regency Park

1. We’re priced well under all the recent price/square foot sales in the building. As I’d mentioned, the 3 bedroom listings in this project seldom come up and the 2 bed units get snapped up fast. Here’s a list of the recent 2 bed, 2 bath unit sales and their sales price/sq.ft.:

• 10/24/14 Unit 917 Sold for $630,000 or $612.84/sq.ft.
• 9/25/14 Unit 605 Sold for $570,000 or $594.37/sq.ft.
• 9/5/14 Unit 327 Sold for $540,000 or $660.85/sq.ft.
• 6/30/14 Unit 130 Sold for $525,000 or $654.51/sq.ft.

 
All four of these had slightly different square footages, however, were all basically 2 bed, 2 bath units. The average sale price is $630.67/sq.ft. and we’re currently priced at only $528.85/sq.ft. This is over $100/sq.ft. less! Did I mention our kitchen and bathrooms are remodeled as well?

2. We’re a great value compared to single family homes for those shopping in the Diamond Head Region of MLS with 3 bedrooms. As of today, there is only 1 single family home on the market (MLS# 201416348) from Diamond Head to Kuliouou having 3 bed and 2 baths under $700,000. By the way, that home was built in 1927 and the lot is only 2,750 sq.ft. Regency Park was built in 1981, which was after asbestos and lead-based paint was used. Did I mention my listing had the kitchen and bathrooms recently remodeled?

We are also 1 of only 2 condos on the market with 3 bed, 2 baths under $700,000 in the same region. The other is in Kuliouou (MLS# 201416747) and is a much further drive from the conveniences of town. Regency Park is on the same block of Chaminade University, minutes from the University of Hawaii at Manoa, and can reach just about anywhere in town without having to get on the freeway.

3. My client is motivated. We’ve been in escrow several times already and had Buyers cancel for the craziest of reasons. We’re now priced to move this place. Like I said, take another look at #1 and #2 above. There’s not much out there and this listing is a great value. This will most likely be one of those situations where a year or two down the road people will look back on this as a great opportunity passed.

Regency Park #232 is awaiting its new owner…

Additional Information

With most everything newer coming online in Honolulu being priced in the $700-800k + range in Kakaako, this is a great value for a well run building with 3 bedrooms with great amenities, storage, and more. Feel free to contact me for more information or to set up a private showing.