1120 Pua Ln

1120 Pua Ln
Honolulu, HI 96817

For Sale

Sold

Sold Price

$699,000 (LH)

List Price

$699,000 (LH)

Property Type:: Multi-Family
Studio Units:: 0
1-Bed Units:: 0
2-Bed Units:: 0
3-Bed Units:: 9

Land Area (sf):: 11,500
Living (sf):: --
Lanai (sf):: --
Other (sf):: --

Parking Stalls:: 18 - Assigned, Open

MLS #:: 202119729
Island:: Oahu
Region:: Metro Oahu
Neighborhood:: PALAMA
TMK:: 1-1-7-031-005-0000

List Date:: August 02, 2021
Date Sold:: September 23, 2021

REMARKS:

CASH COW. Rare Leasehold asset with excellent income and irresistible pricing. Built in 1993, this income GEM is well maintained and rented by the room. Owners live in one of the units and make sure the property sparkles. Better than 1:1 parking. Currently rented BY THE ROOM (38 rooms) with shared kitchen and bathroom= 7 five bed/ 1 ba + 2 three bed, one ba. Can convert to 9 separate rentals to lessen management and overhead (electric and water is included, 9 electric meters, 1 water meter), plus Bonus electric charging station for EV)! Lender has verified a $270, 000 loan based on “known” rental period to 2027; lease ends in 2037.

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PROPERTY INFORMATION:

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

Year Built:: 1991
Year Remodeled:: --

FINANCIAL INFORMATION:

Assd. Val. Land:: $1,866,400
Assd. Val. Imprv:: $824,700
Assd. Val. Total:: $2,691,100

Tax Year:: 2021
Monthly Taxes:: $785
Home Exempt.:: --

Land Tenure: Leasehold
Fee Options: None
Lessor:: Maeda Trust

Lease Rent:: 6845.00/2037
Next Step-Up:: --/2027
2nd Step-Up:: --/--

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

SCHOOLS:

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

OTHER PROPERTY FEATURES:

Frontage:: Other
View:: None, Other
Pool:: --
Amenities:: Fire Sprinkler, Resident Manager
Inclusions:: --
Security:: --
Assn. Fee Inclusions:: --
Other Fee Inclusions:: --

Lot Description:: Clear
Topography:: Level
Number of Stories:: Three
Building Style:: --
Property Condition:: Above Average
Construction:: Wood Frame
Roofing:: Composition
Floor Covering:: --

Disclosures:: None
Possession:: At Closing, Subject To Tenancy
Terms Accept.:: Cash, Conventional, 1031 Exchange
Land Recorded:: Regular System

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

Compensation*:: 2.25%
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 Commercial Inv. Strategies