NAPILI RIDGE AN AFFORDABLE SLICE OF PARADISE
NAPILI – Located above Honokeana Cove and a short walk to crystal clear Napili Bay, THE NAPILI RIDGE offers incredible opportunities for a world-class location.
Prior to the development of the Kapalua Resort, Napili Ridge was originally built as “AFFORDABLE HOUSING.” They were constructed in the early 1970s, thus making this modest residential condominium a first-time homebuyer or West Maui investor’s dream come true.
This is a low-density, two-story property with 132 apartments. There are 88 1/1 bath and 42 studio apartments. Amenities include a pool, BBQ area, community laundry and a FABULOUS LOCATION!!
Originally this was a leasehold property with a lease that expires in 2049. In 2009, the homeowners were successful in purchasing the lease, and now the majority of the units are Fee Simple, with the current owner option of the Fee purchase of the remaining units converting. DON’T KNOW WHAT THIS MEANS?
Fifty of the 132 units are now being used as vacation rentals and do quite well. Whether it’s long term, owner-occupied or a long-term rental, this is a great “TOE DIPPER” property for the investor or owner-occupant.
I am happy to go over the particulars with you and be of assistance in any way possible.
The views from most of the second story units are as spectacular as anything in Kapalua. As a matter of fact, the property is less than two blocks from the 14th fairway of the world-famous Kapalua Bay Golf Course (as the crow flies).
It’s official – those looking for great opportunities should definitely consider this lovely spot in our part of paradise.
FOR INFORMATION ON THIS AND ANY OTHER PROPERTIES, PLEASE FEEL FREE TO CONTACT ME DIRECTLY AT (808) 276-6061.