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This is a leasehold property. Location, location! Conveniently located in walking distance to Hilo town, Hilo Terrace offers comfortable 2 bedroom 1 bath units with added amenities such as on site laundry facilities, assigned parking, guest stalls and even a swimming pool. Although this is a leasehold property, the fee interest is available for purchase from the association.
The unit does need some TLC but there have been a lot of improvements to the Hilo Terrace complex in recent years such as the refinishing of the pool and laundry facilities in 2019, asphalted parking lot in 2020, and new roofs on all buildings in 2023.
The monthly maintenance fee of $460 covers water, sewer, gas, condo insurance and common area maintenance. Additional fees are lease rent of $93.75, trash fee of $23.11 and utility admin fee of $6.50. Owners are responsible for their own electricity, cable, internet and phone service.