Property Detail

MLS#385025 - THIS IS AN ARCHIVED LISTING OF A PAST SALE

The Ritz Carlton Residences #1614-1616 in Kapalua

$2,410,000 FS
2 Bedrooms
2 Bedrooms
2 Bathrooms
2 Bathrooms
1333 sqft Living Area
1333 sqft
2.15 Acres
2.15 Acres

INCOME! INCOME! INCOME! Although many Ritz Carlton Residences offer identical floor plans and furnishings, the incomes of each unit vary greatly. Here’s the secret code…the income is dependent upon the ROOM CATEGORY of each bedroom, as set by Ritz Carlton. It does not matter that the entire project is considered oceanfront; it matters how Ritz Carlton places EACH BEDROOM into their reservation system. There are 5 room categories…Garden View, Resort View, Partial Ocean View, Ocean View and Ocean Front. The impact of the room categories creates dramatic income differentials, which creates significantly variant real estate values, despite physical similarities. Residence 1614/1616 has both bedrooms in the Ocean View category. The Ocean View category has provided the highest net income to the owner every year since 2008! This Seller knows, because he owns two units…one is Ocean View and one is Ocean Front…and in 12 out of 12 years, the Ocean View residence has outperformed the Ocean Front category residence in terms of net income. This Seller can provide 12 years of income history on both units! Residence 1614/1616 is perfect for a buyer who wants to spend less than 60-days per year in one of the finest 5-star beach front resort properties in the world, and receive institutional-quality income during the rest of the year. Owners are treated like royalty when “in residence”, and receive a long list of special and valuable privileges when they are on property! However, many owners own these units solely for the income. In the 12 months prior to the pandemic (February 2019 - January 2020), this residence produced $126,728 in NET operating income (after paying property taxes!). Based upon the $2,395,000 asking price, that’s an institutional quality 5.2% CAP rate, including a few weeks of owner use…and the Seller never lifted a finger to produce this income! As of December 19, 2020, this residence is the only available Ocean View category residence. Seller paid $2,430,000 for this unit in 2008! Income history available upon request. (The above information was provided by the Seller. Past financial performance is no guarantee of future financial performance.)

This listing is displayed for reference only. Courtesy ofHapuna Realty via The Maui Multiple Listing Service
Construction
Year Built:1992
Land
Utilities
Financials
Potential Short Sale:No
Listing Price: $2,435,000
Original Price: $2,395,000
Land Tenure:Fee Simple
Fees
Taxes per month: N/A
Monthly Maintenance Fee: $3698.36
Public Records
  • MLS 394063
  • Location Kapalua
  • Condo
  • Living 1323 sqft
  • Bedrooms 2
  • Land 28.00 Acres
  • Bathrooms 2
  • CPR Yes
  • MLS 394229
  • Location Kapalua
  • Condo
  • Living 899 sqft
  • Bedrooms 1
  • Land 15.84 Acres
  • Bathrooms 1.5
  • CPR Yes
  • MLS 394874
  • Location Kapalua
  • Condo
  • Living 987 sqft
  • Bedrooms 1
  • Land 15.84 Acres
  • Bathrooms 2
  • CPR Yes
  • MLS 394846
  • Location Kapalua
  • Condo
  • Living 972 sqft
  • Bedrooms 1
  • Land 15.84 Acres
  • Bathrooms 2
  • CPR Yes
  • MLS 394541
  • Location Kapalua
  • Condo
  • Living 1125 sqft
  • Bedrooms 1
  • Land 21.80 Acres
  • Bathrooms 2
  • CPR Yes
  • MLS 394139
  • Location Kapalua
  • Condo
  • Living 972 sqft
  • Bedrooms 1
  • Land 15.84 Acres
  • Bathrooms 2
  • CPR Yes
  • MLS 395381
  • Location Kapalua
  • Condo
  • Living 1697 sqft
  • Bedrooms 2
  • Land 16.45 Acres
  • Bathrooms 3
  • CPR Yes
  • MLS 395264
  • Location Kapalua
  • Condo
  • Living 2425 sqft
  • Bedrooms 3
  • Land 9.19 Acres
  • Bathrooms 4
  • CPR Yes
  • MLS 394447
  • Location Kapalua
  • Condo
  • Living 1006 sqft
  • Bedrooms 1
  • Land 16.45 Acres
  • Bathrooms 1
  • CPR Yes
  • MLS 393850
  • Location Kapalua
  • Condo
  • Living 1065 sqft
  • Bedrooms 1
  • Land 16.45 Acres
  • Bathrooms 1
  • CPR Yes
  • MLS 394602
  • Location Kapalua
  • Condo
  • Living 1125 sqft
  • Bedrooms 1
  • Land 21.80 Acres
  • Bathrooms 2
  • CPR Yes
  • MLS 393808
  • Location Kapalua
  • Condo
  • Living 972 sqft
  • Bedrooms 1
  • Land 16.00 Acres
  • Bathrooms 2
  • CPR Yes
  • MLS 393865
  • Location Kapalua
  • Condo
  • Living 2425 sqft
  • Bedrooms 3
  • Land 9.19 Acres
  • Bathrooms 4
  • CPR Yes
  • MLS 393952
  • Location Kapalua
  • Condo
  • Living 972 sqft
  • Bedrooms 1
  • Land 15.84 Acres
  • Bathrooms 2
  • CPR Yes
  • MLS 394375
  • Location Kapalua
  • Condo
  • Living 1119 sqft
  • Bedrooms 1
  • Land 16.45 Acres
  • Bathrooms 2
  • CPR Yes
  • MLS 394006
  • Location Kapalua
  • Condo
  • Living 1091 sqft
  • Bedrooms 1
  • Land 16.45 Acres
  • Bathrooms 1.5
  • CPR Yes
  • MLS 393468
  • Location Kapalua
  • Condo
  • Living 2904 sqft
  • Bedrooms 3
  • Land 21.00 Acres
  • Bathrooms 3.5
  • CPR Yes
  • MLS 393742
  • Location Kapalua
  • Condo
  • Living 899 sqft
  • Bedrooms 1
  • Land 15.84 Acres
  • Bathrooms 1.5
  • CPR Yes
  • MLS 393488
  • Location Kapalua
  • Condo
  • Living 2991 sqft
  • Bedrooms 3
  • Land 9.19 Acres
  • Bathrooms 4
  • CPR Yes
  • MLS 392927
  • Location Kapalua
  • Condo
  • Living 1206 sqft
  • Bedrooms 1
  • Land 16.45 Acres
  • Bathrooms 2
  • CPR Yes

Condo

Ocean Views
Condominium
Beds:2
Bath:2
Floor Level:6
Living Area:1333 Sqft
Pool:Yes -In-Ground
Central A/C:
Stats
Status: SOLD
Days On Market:748
List Date:11/16/2019
Last Update:12/04/2021
Close Date:12/03/2021