420 Olohana St

420 Olohana St
Honolulu, HI 96815

For Sale

Active Under Contract

List Price

$3,988,000 (FS)

Property Type:: Multi-Family
Studio Units:: 1
1-Bed Units:: 8
2-Bed Units:: 7
3-Bed Units:: 0

Land Area (sf):: 4,500
Living (sf):: --
Lanai (sf):: --
Other (sf):: --

Parking Stalls:: 5 - Assigned

MLS #:: 202311288
Island:: Oahu
Region:: Metro Oahu
Neighborhood:: WAIKIKI
TMK:: 1-2-6-016-044-0000

List Date:: May 22, 2023

REMARKS:

Vacant, fee simple, 16-unit apartment building in Waikiki that is zoned Apartment Mixed Use. Great location with a straightforward path to renovating and getting high rents in line with the rest of Waikiki, but it needs significant renovation and repair work. The property is currently 100% vacant which offers a value-add investor a blank canvas to refurbish the building on their own timeline. Solid concrete building, separately metered for electricity and large common area spaces with room to add amenities like storage. Add coin operated laundry for additional income. APARTMIX zoning may allow for some commercial uses – please consult your architect to discuss ways to take advantage of this zoning. Sale is subject to Seller executing a 1031 exchange.

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PROPERTY INFORMATION:

Zoning:: AM - Apartment Mixed Use
Furnished:: --

Year Built:: 1960
Year Remodeled:: --

FINANCIAL INFORMATION:

Assd. Val. Land:: $1,850,000
Assd. Val. Imprv:: $513,600
Assd. Val. Total:: $23,663,600

Tax Year:: 2023
Monthly Taxes:: $690
Home Exempt.:: --

SCHOOLS:

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

OTHER PROPERTY FEATURES:

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

Lot Description:: Other
Topography:: Level
Number of Stories:: 4-7
Building Style:: --
Property Condition:: Needs Major Repair
Construction:: Hollow Tile
Roofing:: Other
Floor Covering:: --

Disclosures:: 1031 Exchange, Inactive Licensed Owner
Possession:: At Closing
Terms Accept.:: Cash, Conventional, 1031 Exchange
Land Recorded:: Land Court

Exclusions:: --
Easements:: None
Set-Backs:: Of Record

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 19, 2024. Information is deemed reliable but not guaranteed. Copyright: 2024 by HiCentral MLS, Ltd. Listing courtesy of Standard Management LLC