331 & 333 Hobron Lane, Honolulu, HI 96815

$2,700,000
List Price
$2,700,000
Status
ACTIVE
Type
Multifamily
MLS#
202408267
Days on Market
94
Land Area
6,500
Year Built
1949
Year Remodeled
1990
Neighborhood
Waikiki
Land Tenure
LH - Leasehold

Property Description

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.

Additional Information

Island
Oahu
Stories Type
4-7
Utilities
Cable, Gas, Internet, Overhead Electricity, Public Water, Sewer Fee, Water
View
Sunset
Easements
Sewer
Parking Total
18
Tenants Responsibilities Include
Electricity, Parking, Water
Sqft Building
10000
Elementary School
Lunalilo
Middle School
Washington
High School
Kaimuki
Lot Size
6,500
Unit One Bed Number Of
13
Construction Materials
Concrete
Mls Area Major
Metro
Neighborhood
Waikiki
Studio Units Number Of
2
Frontage
Other
Furnished
Partial
Year Built
1949
Year Remodeled
1990
Tax Amount
$1,109
Total Income
499350
Sewer
Connected
Unit Two Bed Number Of
3
Roof
Custom/Specialty
Recreation Facilities
None
Parking Features
Assigned
Lot Features
Clear
Amenities
A/C, Secured Lobby
Total Annual Operating Expenses
126637
Lease Fee Month
11008
Lease Expiration Date
1964-12-31
Assessed Total
6075800
Assessed Improvement
1597800
Assessed Land
4478000
Zoning
X2 - Apartment Precinct

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
Years

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Calculator source: Real Geeks

Listing courtesy of Standard Management LLC.

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