Status

SOLD

Type

Multifamily

MLS#

202306592

Sold Price

$3,415,000

List Price

$3,700,000

Days on Market

177

Closing Date

Apr 01, 2024

Land Area

13,965

Year Built

1969

Neighborhood

Palolo

Land Tenure

FS - Fee Simple

Property Description

OFFERED below assessed Value. Beautifully maintained 2-story concrete building with (1x) 1-bedroom and (9x) 2-bedroom units with 10 open parking stalls. A large 13,965 sq ft lot with building size of 7,920 sq. ft. Each unit features exceptionally large living space with balcony or backyard with units own hot water tank. Building features a coin-operated laundry area for extra monthly income, separately metered electricity, and one sewer. Current rents are below market allowing a buyer to increase rents with some upgrades. Possible redeveloping option under Bill 7 to maximize the property's highest and best use. Ideally located near Chaminade University and the University of Hawaii Manoa, restaurants, and shops.

Additional Information

Island

Oahu

Stories Type

Two

Utilities

Gas, Internet, Overhead Electricity, Public Water, Telephone

View

Mountain

Easements

None

Parking Total

10

Tenants Responsibilities Include

Cable TV, Electricity, Other

Sqft Building

7920

Lot Size

13,965

Unit One Bed Number Of

1

Construction Materials

Concrete

Mls Area Major

DiamondHd

Neighborhood

Palolo

Frontage

Other

Furnished

Partial

Year Built

1969

Tax Amount

$1,159

Total Income

1

Sewer

Connected

Unit Two Bed Number Of

9

Roof

Other

Recreation Facilities

None

Parking Features

Assigned, Open

Lot Features

Other

Amenities

None

Total Annual Operating Expenses

1

Assessed Total

4333600

Assessed Improvement

441500

Assessed Land

3892100

Zoning

11 - A-1 Low Density Apartment