Built in 1977 with 633 Units on 42 Floors, Studio & 1 to 3BR Floor plans, Pets: OK (verify).
Amenities include Pool, Exercise Room, Sauna, BBQ Area, Many restaurants on bottom floors.
The homeowners' association has purchased a 62% interest in the Fee.
The AOAO at Discovery Bay has an approximate 62% interest in the land and there are ~6 other interested parties holding the remaining 38% interest in the land. The AOAO is interested in buying these parties out, which, if successful, would give the AOAO an ability to work towards offering the owners the fee.
Upon lease expiry - year 2039 - all parties with an interest in the land have to come to an agreement. Since the owners have an interest in the fee, they cannot be asked to vacate their unit, as is the case with many leasehold properties.
About Discovery Bay
The Discovery Bay condo is another of Waikiki's dual strength properties. You can live here, right in the bustling entrance to this district, or put it on the vacation rental market to produce an income. Discovery Bay is a known property with travelers so you have a client base already in place. Whichever way you go, there's a lot to love about this place.
The location just over the canal from Ala Moana puts you in walking distance to both the world-renowned shopping and dining of Ala Moana Center as well as the beach park, where you can dive in, watch novice paddle boarders get their sea legs or just lay back and enjoy the rays. Locals love this beach, so you know it's gotta be a good one.
Closer to home, the bottom levels of your building are filled with restaurants, both fast food and finer varieties, to sample any time. You also have the options of a bar or 2 should you want liquid refreshment to add a lift to your day. With all these choices you can 'go out' without actually leaving the building.
The complex actually is made up of two towers, Endeavor and Resolution, but all units fall under the heading of Discovery Bay condos. The height of these buildings mean that some of the upper floors have ocean views. The remaining have the city and Waikiki streets to enjoy, a sight that never gets old because the lights, the sounds and the car & pedestrian traffic are always changing.
No matter which you choose, residence or rental property, you can't go wrong. Discovery Bay is a Waikiki institution now and it's not going anywhere anytime soon.
The price range of condos for sale in Discovery Bay is $198K to $775K with a median price of $349K and median interior of 770sqf.
The median price of condos sold in Discovery Bay year-to-date (Jan - Oct 28, 2016) is $221K. In previous years it was $250K (2015), $249K (2014), $231K (2013), $191K (2012), $184K (2011), $191K (2010), $237K (2009), $300K (2008), $307K (2007), $290K (2006), $325K (2005), $268K (2004), $205K (2003).
24 condos have sold in Discovery Bay year-to-date (Jan - Oct 28, 2016). In previous years, the total number of condos sold were 36 (2015), 37 (2014), 36 (2013), 30 (2012), 38 (2011), 18 (2010), 18 (2009), 17 (2008), 38 (2007), 30 (2006), 41 (2005), 55 (2004), 43 (2003).
On average Discovery Bay condos were on the market for 95 days before they were sold (Jan - Oct 28, 2016). In previous years it was 90 days (2015), 104 days (2014), 95 days (2013), 48 days (2012), 71 days (2011), 74 days (2010), 107 days (2009), 84 days (2008), 115 days (2007), 115 days (2006), 78 days (2005), 59 days (2004), 75 days (2003).
The average days on market for Discovery Bay condos before sold was 80 days September 2016 compared to 146 days September 2015.
The ratio of Discovery Bay condos sales price vs list price was 97.0% September 2016 compared to 84.5% September 2015.
2 Discovery Bay condos were sold September 2016 compared to 1 condo sold September 2015.
The total dollar volume of condos currently for sale in Discovery Bay is $9.37M and the sold dollar volume year-to-date (Jan - Oct 28, 2016) is $5.9M. In previous years sold dollar volume was $10.95M (2015), $9.89M (2014), $9.54M (2013), $5.9M (2012), $8.11M (2011), $3.7M (2010), $4.34M (2009), $5.45M (2008), $12.22M (2007), $10.04M (2006), $14.21M (2005), $15.57M (2004), $9.1M (2003).
The most recent sale in Discovery Bay was a condo located at #2605 , sold for $200K on Oct 25, 2016. It had 464sqf of interior. 9 other recent sales include: #3602 (683sqf) sold for $305K on 10/19/2016. #2102 (683sqf) sold for $228K on 10/19/2016. #2215 (464sqf) sold for $191K on 10/17/2016. #1305 (464sqf) sold for $173K on 10/11/2016. #813 (683sqf) sold for $166K on 10/5/2016. #3413 (683sqf) sold for $245K on 10/5/2016. #1312 (770sqf) sold for $190K on 10/4/2016. #1707 (683sqf) sold for $217K on 9/9/2016. #2404 (1,131sqf) sold for $340K on 9/2/2016.
In Discovery Bay there is currently 25 leasehold units for sale. 18 of the condos have ocean views, 3 have Diamond Head views and 12 have mountain views.
There are 3 studio floor plans, 11 x 1 bedroom floor plans and 11 x 2 bedroom floor plans.
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The MLS properties are based on information from the Multiple Listing Service of Hicentral MLS, Ltd. Listings last updated on September 22, 2016. Information is deemed reliable but not guaranteed.