Overview
The Ala Wai consists of two (2) multi-family buildings containing twenty-one (21) apartments, ten (10) parking stalls, and coin operated community laundry. Centrally located in Waikiki, the stateâs most popular tourist destination, The Ala Wai is located on a highly traveled roadway with convenient access to amenities such as hotels, restaurants, shopping, entertainment, recreational areas and world famous Waikiki Beach.
The offering includes fee simple interest in both buildings together with 7,907 square feet of land zoned apartment precinct. With a stable long-term tenant mix, this is a relatively low-risk investment opportunity and priced accordingly with plenty of upside as rents have not been increased since March 2020 due to the Governorâs 21st Proclamation related to Covid-19.
Property Details
- Amenities
- Other
- Building Name
- N/A
- Business Type
- Condo/Apt
- Sold Date
- 01/25/2022
- Sold Price
- $7,000,000
- Construction Materials
- Concrete Block, Other, See Remarks
- Flooring
- Other
- Neighborhood
- Waikiki
- Net Operating Income
- 229725.00
- Number Of Units Total
- 21
- Parking Features
- Assigned, On Site, Street
- Parking Total
- 10
- Property Frontage
- Main Street, Other
- Property Type
- Commercial/Industrial
- Interior SqFt
- 7,798
- Other SqFt
- 2,894
- Total SqFt
- 10,692
- Status
- Sold
- Stories
- 4
- Total Actual Rent
- $29,540
- Total Annual Operating Expenses
- $143,971
- Year Built
- 1947
Additional Property Info
- Active Continue To Show Date
- 10/27/2021
- Disclosures
- None, See Remarks
- Days on Market
- 57
- Flood Zone
- Zone AE
- Property Condition
- Average
- Roof
- Other
- Tax Amount
- $1,241
- Tax Assessed Value
- $4,339,400
- Tax Assessed Value Improvements
- $1,571,900
- Tax Assessed Value Land
- $2,767,500
- Utilities
- Gas, Light Electricity, Small Water Meter
- Zoning
- X2 - Apartment Precinct
Courtesy of David L Moyer, Hawaii Sands Realty.
Based on information from the Multiple Listing Service of HiCentral MLS, Ltd. Information is deemed reliable but not guaranteed. Copyright 2024 by HiCentral MLS, Ltd.
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