A fantastic TURN-KEY property for savvy investors! Upscale concrete 6 story, 28-unit apartment building w/36 parking stalls. Immaculate secured building in excellent condition w/ steady high rental income of $48,480/month generating 4% capitalization rate! No Flood Zone! Prime upper Makiki, close to Waikiki, Downtown, UH & everywhere which the convenient City life offers. The entire building underwent 2 year-long, comprehensive reconstruction from 2014 thru 2015. The entire upper parking deck and all lanais received extensive concrete repair, and an industrial nonskid waterproofing membrane was installed to protect the concrete for many years. All concrete work was performed by highly reputable Seal Masters of Hawaii, & the building wall water proofing work is in progress. All units have been renovated/repaired with high quality materials & workmanship. New plumbing, electrical, driveway, landscaping, quality appliances, & 50 plus security cameras. 100% occupied w/long-term tenants!
Flat level lot desirably located walking distance to Manoa Marketplace, schools, parks, etc, but yet offset from the main road noise. Rarely available with current zoning laws and size restrictions, Two (2) legal non-conforming detached homes on one parcel-3/1 house in front and a mother-in-law or income property cottage in back. Redwood T & G walls, original hardwood floors ready for restoration, high ceilings in the cottage with patio overlooking poetic Manoa Stream. Long time tenants moved out a few months ago. Talk about tons of potential!