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Maui

Papakea Condo Offers Great Value

In a down market where opportunities abound for buyers, there are listings well below market value. Such is a condo for sale in Papakea Resort (MLS# 344341).

This 2 bed / 2 bath condo encompasses 861 square feet of living in an oceanfront property. How does it compare to other units of the same size? It is the lowest priced 2-bedroom condo currently for sale in Papakea, with other similar units being offered from $475K to $699K. In the past six months, two other units of the same size have sold, from $599K to $925K.

Papakea offers a plethora of amenities for the exclusive use of residents and visitors, including two pools and jacuzzi, saunas, barbecue areas, tennis courts, putting greens, shuffleboard, and more. Keep in mind that the unit in question is a leasehold property (learn more about leaseholds here), with the current lease at $125 per month, and lease renegotiation scheduled for 2014 and expiration in 2047.

Should you wish further information on this unit, or other Maui properties, please contact Alex or Mariah.

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