331 & 333 Hobron Ln
Honolulu, HI 96815

For Sale
Active
List Price
$2,595,000 (LH)
Property Type:
Multi-Family
Studio Units:
2
1-Bed Units:
13
2-Bed Units:
3
3-Bed Units:
0
Land Area (sf):
12,914
Living (sf):
--
Lanai (sf):
--
Other (sf):
--
Parking Stalls:
18 - Assigned
MLS #:
202008130
Island:
Oahu
Region:
Metro Oahu
Neighborhood:
WAIKIKI
TMK:
1-2-6-012-046-0000
List Date:

REMARKS:

Unique Waikiki Investment Opportunity!! 1 block from Ilikai Harbor & Kaiser's surf break, super close to Ala Moana Center + Beach Park. Solid, all-interiors-renovated 4-story hollow-tile building w/ 18 parking spaces in the heart of Waikiki earning excellent rents. 44 years remaining on the lease which means banks will treat it like Fee Simple. 350' height limit, if you want to redevelop! Buy this 17.58% IRR cash flow for $695, 000 in cash + the assumable Fannie Mae mortgage of $1.9M at 4.32% originated in 2016 with a 10 year term providing Buyers with an excellent leverage opportunity. NOI is 17.86% WITH mortgage and LH rent payments! DPP records show 19 units, so possibility to add an extra unit--Buyer to do its own due diligence to confirm. All units separately metered for electricity; gas on property; water charged back to the tenant.

PROPERTY INFORMATION:

Zoning:
X2 - Apartment Precinct
Furnished:
Partial
Year Built:
1949
Year Remodeled:
1990

FINANCIAL INFORMATION:

Assd. Val. Land:
$4,048,600
Assd. Val. Imprv:
$163,770
Assd. Val. Total:
$5,686,300
Tax Year:
2020
Monthly Taxes:
$1,628
Home Exempt.:
--
Land Tenure
Leasehold
Fee Options
None
Lessor:
Metro Prop Ltd
Lease Rent:
11008.56/2064
Next Step-Up:
--/2030
2nd Step-Up:
--/--
Fee Purchase:
--
Reneg Date:
--
Lease Exp:
--

SCHOOLS:

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

OTHER PROPERTY FEATURES:

Frontage:
Other
View:
Sunset
Pool:
--
Amenities:
A/C, Other, Secured Lobby
Inclusions:
--
Security:
--
Assn. Fee Inclusions:
--
Other Fee Inclusions:
--
Lot Description:
Clear
Topography:
Level
Number of Stories:
4-7
Building Style:
--
Property Condition:
Above Average, Excellent
Construction:
Concrete
Roofing:
Custom/Specialty
Floor Covering:
--
Disclosures:
1031 Exchange, Licensed Owner, Pet on Property
Possession:
At Closing, Subject To Tenancy
Terms Accept.:
Cash, Conventional, Exchange
Land Recorded:
Land Court
Exclusions:
--
Easements:
Sewer
Set-Backs:
None

Based on information from the Multiple Listing Service of HiCentral MLS, Ltd. listings last updated on Saturday, September 19, 2020.  Information is deemed reliable but not guaranteed.  Copyright: 2020 by HiCentral MLS, Ltd.  Listing courtesy of Commercial Inv. Strategies