Waikiki Multi-Family

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

$2,700,000

 

Total SqFt
10,000
Lot Size Area
6,500 SqFt
Land Tenure
Leasehold
MLS #
202408267
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Overview

INCREDIBLE CASHFLOW OPPORTUNITY IN WAIKIKI priced at only $150,000 per unit. 18 solid concrete renovated units with 18 parking stalls on a total of 12,914 SF of land in world-famous Waikiki. The property has no trouble staying rented, and Waikiki typically has higher rent appreciation than other neighborhoods due to the year-round global demand. This property is leasehold with 40 years remaining on the ground lease and 15 years of known rent, making it financeable and eligible for a 1031 exchange. Ideal for a buyer looking to achieve a great return on their money for at least the next 40 years. Separately metered for electricity and tenants are billed back for water.

Property Details

Amenities
A/C, Secured Lobby
Building Type
Apartments, Multi Dwellings
Construction Materials
Concrete
Furnished
Partial
Location
Inside
Neighborhood
Waikiki
Net Operating Income
352739.00
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
$36,580
Total Annual Operating Expenses
$126,637
Total Income
$499,350
View
Sunset
Year Built
1949
Year Remodeled
1990

Additional Property Info

Disclosures
Listor Owner, Pet on Property
Days on Market
3
Elementary School
Lunalilo
Flood Zone
Zone AE
High School
Kaimuki
Laundry Facilities
Coin, Leased Equipment
Lease Expiration Date
12/31/1964
Lease Fee Month
$11,009
Lease Renegotiation Date
01/01/2040
Middle/Junior School
Washington
Property Condition
Excellent, Above Average
Roof
Custom/Specialty
Tax Amount
$1,109
Tax Assessed Value
$6,075,800
Tax Assessed Value Improvements
$1,597,800
Tax Assessed Value Land
$4,478,000
Topography
Level
Utilities
Cable, Gas, Internet, Overhead Electricity, Public Water, Sewer Fee, Water
Zoning
X2 - Apartment Precinct

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Listing Courtesy of Standard Management LLC Courtesy of Michael M Okamoto, Standard Management LLC.
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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