Residential Land for Sale in Kailua, Hawaii

THIS SALE IS FOR THE LAND ONLY. DO NOT DISTURB THE TENANTS! DRIVE BY ONLY! You are buying the remaining leased fee interest in the land which will make you the lessor. The purchase includes all of the rights of a lessor and income. One very important lessor right is contained in paragraph 20 of the original lease. Ask your agent for a copy of the lease posted in the MLS supplements. Please discuss the ramifications of paragraph 20 in relation to the house on the land with your agent or attorney. This lease expires on 12/31/28. Rent is $400/year + property taxes. The fixed rent period ended December 31, 2003 and the annual rental payable for the period January 1, 2004 thru December 31, 2028 has not been determined. Make all offers. CASH ONLY! Possession is subject to tenant lease.