NAPILI RIDGE A SLICE OF PARADISE — FEE INTEREST AVAILABLE
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” for the lucky few. They were constructed in the early 1970s, thus making this modest residential condominium a first-time homebuyer or West Maui Investors’ 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!!
Tremendous improvements have been completed onsite since 2017, including new water pipes, drainage, spalling of the lanais and railings, new rock walls, plantings and sprinkler systems, as well as making certain that all owners comply with the water heater ages. Pipes changed between the units as well.
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? There is a possibility of purchasing the FEE INTEREST at this time. The Tradewind Land Owners will consider the offers on a case-by- case basis. No pricing has been set. When it was available in 2018, the one-bedroom units were at an additional $138,000, and the studios were at $110,000.
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 many in Kapalua. As a matter of fact, the property is less than six 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 @ (808)-276-6061.