The Ritz Carlton Residences 1614-1616

$2,435,000

  • REDUCED MLS® #: 385025 Monthly Maintenance Fees $3,698
  • 1 Ritz Carlton Dr 1614-1616
  • Kapalua, Hawaii 96761

The Ritz Carlton Residences 1614-1616

$2,435,000

  • REDUCED MLS® #: 385025 Monthly Maintenance Fees $3,698
  • 1 Ritz Carlton Dr 1614-1616
  • Kapalua, Hawaii 96761
2 Beds
2 Baths
1,333 Sqft
$ Monthly
Condominium
  • Monthly Maintenance Fees $3,698
  • Overview 2 Beds, 2 Bath, 1333 SQ. Feet, 2.15 Acres
  • Listing Type Condo / Townhouse
  • Office: Hapuna Realty

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.)

Essential Information

MLS® #385025
Price$2,435,000
Bedrooms2
Bathrooms2.00
Square Footage1,333
Acres2.15
Year Built1992
TypeCondo / Townhouse
Sub-TypeCondo
Land TenureFee Simple
StatusActive

Community Information

Address1 Ritz Carlton Dr 1614-1616
AreaKapalua
SubdivisionThe Ritz Carlton Residenc
Building NameThe Ritz Carlton Residences
CityKapalua
StateHawaii
Zip Code96761

Amenities

ViewOcean
Is WaterfrontYes
WaterfrontBeachFront
Has PoolYes
PoolIn-Ground

Interior

CoolingCentral AC

Additional Information

Date ListedNovember 16th, 2019
Days on Market624
Monthly Maintenance Fees3698.36
Description Land TenureFee Simple

Listing Details

OfficeHapuna Realty

Property History

Price Increased from $2,395,000 to $2,435,000

Kapalua Statistics

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Quick Details

This condominium is located at 1 Ritz Carlton Dr 1614-1616, , it is currently priced $2,435,000 . This Condo / Townhouse has 2 Bedrooms and 2.00 Bathrooms, totaling 1333 Square feet. Built in 1992, this Condo / Townhouse is Active. Represented by Tomoko Matsumoto of Hapuna Realty, Contact Number 808-557-8689, our team of Realtors can represent you at no additional cost.

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Listings provided courtesy of the REALTORS® Association of Maui.

IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Listings provided courtesy of the REALTORS® Association of Maui.

IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.