Listing: 202408267
Island: Oahu • Region: Metro Oahu • Neighborhood: WAIKIKI Type: Multi-Family • MLS #: 202408267 • TMK: 1-2-6-012-046-0000
List Price: $2,700,000 List Date: April 15, 2024
Street Address: 331 & 333 Hobron
Remarks:
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 Information:
Bedrooms: --
Full Baths: --
Half Baths: --
Parking: 18
Land Area (sf): 6,500
Living (sf): --
Lanai (sf): --
Other (sf): --
Terms Accept.: Cash, Conventional
Disclosures: Listor Owner, Pet on Property
Furnished: Partial
Zoning: X2 - Apartment Precinct
Year Built: 1949
Year Remodeled: 1990
Financial Information:
Assd. Val. Land: $4,478,000
Assd. Val. Imprv: $1,597,800
Assd. Val. Total: $6,075,800
Tax Year: 2023
Monthly Taxes: $1,109
Home Exempt.: --
Maintenance Fees: --/mo.
Association Fees: --/mo.
Other Fees: --/mo.
Land Tenure: Leasehold
FeeOptions None
Lessor: Metropolitan Properties LTD
Lease Rent: 11008.55/1964
Next Step-Up: --/--
2nd Step-Up: --/--
Fee Purchase: --
Reneg Date: --
Lse Expires: --
Schools:
Middle School: Washington
Other Property Features:
Unit: --
Frontage: Other
View: Sunset
Parking: Assigned
Pool: --
Amenities: A/C, Secured Lobby
Inclusions: --
Security: --
Assn. Fee Inclusions: --
Other Fee Inclusions: --
Lot Description: Clear
Topography: Level
Number of Stories: 4-7
Building Style: --
Property Condition: Excellent, Above Average
Construction: Concrete
Roofing: Custom/Specialty
Floor Covering: --
Possession: At Closing, Subject To Tenancy
Land Recorded: Land Court
Exclusions: --
Easements: Sewer
Set-Backs: None
Compensation*: 2
Compensation Type: %
Broker Attribution: (808) 208-8107
Based on information from the Multiple Listing Service of HiCentral MLS, Ltd. listings last updated on Thursday, May 2, 2024. Information is deemed
reliable but not guaranteed. Copyright: 2024 by HiCentral MLS, Ltd. Listing courtesy of Standard Management LLC
