Waikiki Multi-Family

331 & 333 Hobron Lane, Honolulu, Oahu 96815 Get Directions

$2,595,000

 

Total SqFt
10,000
Lot Size Area
12,914 SqFt
Land Tenure
Leasehold
MLS #
202008130
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Overview

Unique Waikiki Investment Opportunity!! 1 block from Ilikai Harbor & Kaiser's surf break, super close to Ala Moana Center + Beach Park. Solid, all-interiors-renovated 4-story hollow-tile building w/ 18 parking spaces in the heart of Waikiki earning excellent rents. 44 years remaining on the lease which means banks will treat it like Fee Simple. 350' height limit, if you want to redevelop! Buy this 17.58% IRR cash flow for $695,000 in cash + the assumable Fannie Mae mortgage of $1.9M at 4.32% originated in 2016 with a 10 year term providing Buyers with an excellent leverage opportunity. NOI is 17.86% WITH mortgage and LH rent payments! DPP records show 19 units, so possibility to add an extra unit--Buyer to do its own due diligence to confirm. All units separately metered for electricity; gas on property; water charged back to the tenant.

Property Details

Amenities
A/C, Other, Secured Lobby
Building Type
Apartments, Multi Dwellings
Construction Materials
Concrete
Furnished
Partial
Location
Inside
Neighborhood
Waikiki
Net Operating Income
365620.06
Number Of Units Total
18
Parking Features
Assigned
Parking Total
18
Property Frontage
Other
Property Type
Multi-Family
Building SqFt
10,000
Total SqFt
10,000
Status
Active
Total Actual Rent
$34,336
Total Annual Operating Expenses
$110,275
Total Income
$475,895
View
Sunset
Year Built
1949
Year Remodeled
1990

Additional Property Info

Disclosures
1031 Exchange, Licensed Owner, Pet on Property
Days on Market
147
Flood Zone
Zone AE
Laundry Facilities
Coin, Leased Equipment
Lease Expiration Date
12/31/2064
Lease Fee Month
$11,009
Property Condition
Above Average, Excellent
Roof
Custom/Specialty
Tax Amount
$1,628
Tax Assessed Value
$5,686,300
Tax Assessed Value Improvements
$163,770
Tax Assessed Value Land
$4,048,600
Topography
Level
Utilities
Cable, Gas, Internet, Overhead Electricity, Private Water, Sewer Fee, Telephone, Water
Zoning
X2 - Apartment Precinct

Location (Also shows similar listings) Get Directions

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Listing Courtesy of Commercial Inv. Strategies Courtesy of Christina L Dwight, Commercial Inv. Strategies.
Based on information from the Multiple Listing Service of HiCentral MLS, Ltd. Information is deemed reliable but not guaranteed. Copyright 2020 by HiCentral MLS, Ltd.

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