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.
Listing courtesy of Standard Management LLC.
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