75-5730 Alahou St
Kailua Kona, HI 96740

For Sale
Sold
Sold Price
$1,985,000 (FS)
List Price
$2,095,000 (FS)
Property Type:
Multi-Family
Studio Units:
0
1-Bed Units:
16
2-Bed Units:
0
3-Bed Units:
0
Land Area (sf):
16,062
Living (sf):
--
Lanai (sf):
--
Other (sf):
--
Parking Stalls:
16 - Assigned
MLS #:
201824975
Island:
Hawaii
Region:
North Kona
Neighborhood:
LONO KONA
TMK:
3-7-5-022-060-0000
List Date:
Date Sold:

REMARKS:

6.39% cap on existing NOI ($133, 913.52) in a market with no inventory! 16 one-beds on Hamburger Hill w/ ample parking, super walkable to downtown Kailua-Kona. Views of Kailua Bay from many units, all units have closed lanais, adding to the interior square footage. Off-ground construction means repairs are simple and so much cheaper than busting through concrete. LOTS of storage on the makai side of the building can be rented out for additional income. Absolute rentability in a tight rental market, this building has so much potential! All units are separately metered for electric, and tenants pay their own. Laundry is leased and can be replaced with your own machines to increase income! Proposed to be put on public sewer in the next 1-2 years with an annual cost of $5449 for 35 years.

PROPERTY INFORMATION:

Zoning:
12 - A-2 Medium Density Apartme
Furnished:
Partial
Year Built:
1972
Year Remodeled:
--

FINANCIAL INFORMATION:

Assd. Val. Land:
$390,300
Assd. Val. Imprv:
$423,800
Assd. Val. Total:
$814,100
Tax Year:
2017
Monthly Taxes:
$779
Home Exempt.:
--

SCHOOLS:

Elem. School:
--
Middle School:
--
High School:
--

OTHER PROPERTY FEATURES:

Frontage:
Other
View:
Ocean, Sunset
Pool:
--
Amenities:
Storage
Inclusions:
--
Security:
--
Assn. Fee Inclusions:
--
Other Fee Inclusions:
--
Lot Description:
Clear
Topography:
Down Slope
Number of Stories:
Two
Building Style:
--
Property Condition:
Above Average
Construction:
Double Wall, Wood Frame
Roofing:
Custom/Specialty
Floor Covering:
--
Disclosures:
1031 Exchange, Licensed Owner
Possession:
At Closing, Subject To Tenancy
Terms Accept.:
Cash, Conventional, Exchange
Land Recorded:
Regular System
Exclusions:
--
Easements:
Cable
Set-Backs:
Of Record
Compensation*:
2.5%

* 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 Sunday, July 3, 2022.  Information is deemed reliable but not guaranteed.  Copyright: 2022 by HiCentral MLS, Ltd.  Listing courtesy of Commercial Inv. Strategies