1909 Kahakai Dr

1909 Kahakai Dr
Honolulu, HI 96814

For Sale

Sold

Sold Price

$8,200,000 (FS)

List Price

$8,495,000 (FS)

Property Type:: Multi-Family
Studio Units:: 25
1-Bed Units:: 8
2-Bed Units:: 0
3-Bed Units:: 0

Land Area (sf):: 11,728
Living (sf):: --
Lanai (sf):: --
Other (sf):: --

Parking Stalls:: 15 - Assigned

MLS #:: 202112413
Island:: Oahu
Region:: Metro Oahu
Neighborhood:: ALA MOANA
TMK:: 1-2-3-036-028-0000

List Date:: May 16, 2021
Date Sold:: July 14, 2021

REMARKS:

Over 4.5% CAP RATE !!! Next to Hawaii Convention Center & entrance to Waikiki. Rents are below market which provides lucky investor an opportunity to greatly increase cash flow. Bldg 100% occupied, currently zero vacancies. Great revenue-earning property for investment. All concrete building-super quiet for tenants, well-kept exterior and landscaping, excellent condition. 33-unit building has 15 rentable stalls for parking. Units individually metered for electricity. Laundry facility conveniently in building. Highly desirable rental units due to central location. Across the street from Ala Moana Shopping Center. Short walk to stores, grocery, beaches and bus stops. Bike/Walk friendly area.

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PROPERTY INFORMATION:

Zoning:: 12 - A-2 Medium Density Apartme
Furnished:: --

Year Built:: 1951
Year Remodeled:: 2000

FINANCIAL INFORMATION:

Assd. Val. Land:: $1,527,700
Assd. Val. Imprv:: $1,784,600
Assd. Val. Total:: $3,312,300

Tax Year:: 2021
Monthly Taxes:: $966
Home Exempt.:: --

SCHOOLS:

Elem. School:: Ala Wai
Middle School:: Washington
High School:: Mckinley

OTHER PROPERTY FEATURES:

Frontage:: --
View:: City
Pool:: --
Amenities:: None
Inclusions:: --
Security:: --
Assn. Fee Inclusions:: --
Other Fee Inclusions:: --

Lot Description:: Clear
Topography:: Level
Number of Stories:: Three
Building Style:: --
Property Condition:: Excellent
Construction:: Concrete, Hollow Tile
Roofing:: Other
Floor Covering:: --

Disclosures:: 1031 Exchange
Possession:: At Closing, Subject To Tenancy
Terms Accept.:: Cash, Conventional, 1031 Exchange
Land Recorded:: Land Court

Exclusions:: --
Easements:: None
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 Friday, April 26, 2024. Information is deemed reliable but not guaranteed. Copyright: 2024 by HiCentral MLS, Ltd. Listing courtesy of Island Prime Properties LLC