First time being sold! Conveniently located Mauka of H-1 and is down a shared, private lane off of Keeaumoku Street. Includes hollow-tile, 15 - 2 bedroom/1 bathroom units with 15 parking stalls. Fully occupied with below market rents for upside potential. Separate electrical meters and individual water heaters. Coin operated washer/dryer but each lanai has washer hook-up. Stated NOI herein is proforma.
Well maintained building with extremely low deferred maintenance. Excellent location and accessibility off Ward Avenue. You can't ask for a more stable tenant pool or better market rentability. One bedrooms in the area rent for an average of $1242! Pro forma is based on very achievable, conservative rents of only $1050 per unit. Below market rents can EASILY be raised to meet market rents and achieve NOI of $116,873 (download attachment with comparable market analysis and actual inc/exp). 8/10 units nicely renovated w/ granite counters, and all units occupied. 2015 appraisal for $2M on file.
The ideal home for multi-generational living! Come home to this classic Manoa estate with a sought-after location in the heart of the city and a multitude of living options. Your extended family & friends can choose from the detached studio cottage, legal 2/1 Ohana dwelling, or the 3/2 main estate. Entertaining is a breeze thanks to its custom remodeled kitchen, bright & airy living spaces, spacious outdoor areas, and tiled pool with waterfall. Ideal for the growing family or savvy investor.