Rare opportunity to own a multi-family property in a prime location on Kapiolani Blvd! This large 9, 503 square feet A-3 zoned land is in the McCully/Moiliili neighborhood between University Ave and Kamoku Street. The property has 10 units total: 6 one-bedroom, one-bath units and 4 two-bedroom, one-bath units. 9-pkg stalls, 11 electric meters, 1 water meter, on-site common coin (owned) W/D laundry. The building is not in a flood zone & has C&C trash pick-up service, a potential $15-20K savings. Front bldg: 2 stories. Hollow tile (built 1959). 6 spacious one-bedroom, one-bath units (504 sqft). 1st floor units with courtyard. Back bldg: 2 stories. Hollow tile on 1st floor & wood frame on 2nd floor (built 1953). 4 two-bedroom, one-bath units (563 sqft). Fully occupied - primarily long-term tenants, most on MTM. Current rents are below market allowing buyer room to upgrade units and maximize income. Ideally located between University of Hawaii at Manoa and Waikiki. Convenient to Iolani School / Ala Wai Elementary School, UH, Ala Wai Golf Course, Parks, Diamond Head, McCully and Ala Moana Shopping Center, on/off freeway, bus lines, and more!
Property Features
Bathrooms
Appliances
- Dryer
- Washer
- Laundry Features: Coin-operated
Land Info
- Lot Description: Cleared, Level
- Lot Size Acres: 0.2181589
- Topography: Level
- Lot Size Square Feet: 9503
Garage and Parking
- Open Parking: Yes
- Parking Features: Assigned, Open
- Parking Total: 9
Home Features
School Information
- Elementary School: Ala Wai
- High School: Kaimuki
- Middle School: Washington
Homeowners Association
- Association Fee Frequency: Monthly
- Association Fee 2 Frequency: Monthly
Multi-Unit Info
Rental Info
- Tenant Pays: Cable TV, Electricity
Other Property Info
- Annual Tax Amount: 9139.92
- Source Listing Status: Active
- County: Oahu
- Source Property Type: Residential
- Area: Metro
- Property Subtype: condo
- Source Neighborhood: KAPIOLANI
- Parcel Number: 1-2-7-019-004-0000
- Postal City: Honolulu
- Subdivision: KAPIOLANI
- Zoning Description: 13 - A-3 High Density Apartment
- Property Subtype: Multi Family
- Source System Name: C2C
Commercial Info
- Net Operating Income: 107770
- Operating Expense: 43329
- Operating Expense Includes: Insurance, Manager, Real Estate Tax, New Tax
Building and Construction
- Year Built: 1953
- Building Area Total: 5280
- Construction Materials: Masonry, Stucco, Wood Frame
- Levels: Two
- Property Age: 72
- Property Condition: Average Condition
- Levels or Stories: 2
- Structure Type: Apartment, Multi Family
- Total Area Sqft: 5280
Utilities
- Sewer: Connected
- Above Ground Utilities
- Electricity Available
- Water Available
- Sewer Connected
- Water Source: Public