331 & 333 Hobron Ln

331 & 333 Hobron Ln
Honolulu, HI 96815

For Sale

Active

List Price

$2,700,000 (LH)

Property Type:: Multi-Family
Studio Units:: 2
1-Bed Units:: 13
2-Bed Units:: 3
3-Bed Units:: 0

Land Area (sf):: 6,500
Living (sf):: --
Lanai (sf):: --
Other (sf):: --

Parking Stalls:: 18 - Assigned

MLS #:: 202408267
Island:: Oahu
Region:: Metro Oahu
Neighborhood:: WAIKIKI
TMK:: 1-2-6-012-046-0000

List Date:: April 15, 2024

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.

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PROPERTY INFORMATION:

Zoning:: X2 - Apartment Precinct
Furnished:: Partial

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.:: --

Land Tenure: Leasehold
Fee Options: None
Lessor:: Metropolitan Properties LTD

Lease Rent:: 11008.55/1964
Next Step-Up:: --/--
2nd Step-Up:: --/--

Fee Purchase:: --
Reneg Date:: --
Lease Exp:: --

SCHOOLS:

Elem. School:: Lunalilo
Middle School:: Washington
High School:: Kaimuki

OTHER PROPERTY FEATURES:

Frontage:: Other
View:: Sunset
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:: --

Disclosures:: Listor Owner, Pet on Property
Possession:: At Closing, Subject To Tenancy
Terms Accept.:: Cash, Conventional
Land Recorded:: Land Court

Exclusions:: --
Easements:: Sewer
Set-Backs:: None

Compensation*:: 2
Compensation Type:: %

* The offer of compensation to cooperating brokers is made only to the Participants and MLS Subscribers of HICMLS or Participants and MLS Subscribers of other Reciprocating Boards as set forth in that certain Multiple Listing Service Reciprocal Agreement, as amended from time to time, which is incorporated herein by reference.

Based on information from the Multiple Listing Service of HiCentral MLS, Ltd. listings last updated on Tuesday, April 30, 2024. Information is deemed reliable but not guaranteed. Copyright: 2024 by HiCentral MLS, Ltd. Listing courtesy of Standard Management LLC