715 Piikoi Street, Honolulu, HI 96816

$5,300,000
List Price
$5,300,000
Status
ACTIVE UNDER CONTRACT
Type
Multifamily
MLS#
202326083
Days on Market
54
Land Area
8,704
Year Built
1968
Neighborhood
Ala Moana
Land Tenure
FS - Fee Simple

Property Description

18 CMU one-bedroom units near Ala Moana with 29 parking stalls! Proforma 5.6% cap rate at market rents. Average in-place rents are $1,183, far below market, and all tenants are month-to-month. Each unit is approx. 491 SF and in classic condition, allowing an investor the opportunity to add value by renovating units and increasing rents to market rates. The property consists of 18 one-bedroom/one-bathroom CMU units, each with a private lanai, and most with a sink and mauka views. The property has a large covered parking garage with 29 parking stalls and ingress/egress from Piikoi and Alder St. The secured laundry room has 2 landlord-owned coin-operated washers and dryers and has its own bathroom for tenant convenience. There is abundant landlord storage space on-site. Building is separately metered for electricity and boasts mature landscaping. Walking distance to Walmart and Ala Moana Shopping Center.

Additional Information

Island
Oahu
Stories Type
Three
Utilities
Overhead Electricity, Public Water, Sewer Fee, Water
View
Mountain, Other
Easements
None
Parking Total
29
Tenants Responsibilities Include
Electricity
Sqft Building
12636
Elementary School
Kaahumanu
Middle School
Washington
High School
Mckinley
Lot Size
8,704
Unit One Bed Number Of
18
Construction Materials
Concrete, Hollow Tile, Slab
Mls Area Major
Metro
Neighborhood
Ala Moana
Frontage
Other
Year Built
1968
Tax Amount
$836
Total Income
265200
Sewer
Connected
Roof
Other
Recreation Facilities
None
Parking Features
Assigned, Covered
Lot Features
Other
Amenities
None
Total Annual Operating Expenses
36000
Assessed Total
2865200
Assessed Improvement
645700
Assessed Land
2219500
Zoning
12 - A-2 Medium Density Apartme

Mortgage Calculator

Amount of Loan
Annual Interest Rate
%
Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Standard Management LLC.

Based on information from the Multiple Listing Service of Hicentral MLS, Ltd. Listings last updated on . Information is deemed reliable but not guaranteed. Copyright: 2024 by HiCentral MLS, Ltd. IDX information is provided exclusively for consumers' personal, non-commercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Contact: (808) 208-8107