FOR SALE
3206 Ala Ilima St, Honolulu, HI 96818
Investment Summary
| Details | Specification |
|---|---|
Offering Price: |
$11,000,000 |
Gross Income: |
$570,264 |
NOI: |
$355,540 |
Laundry Income: |
$10,764 |
Tenure: |
Fee Simple |
TMK: |
1-1-1-59-018 |
Number of Units: |
30 (2-Bedroom) Units |
Parking: |
38 Marked Stalls |
Zoning: |
A-2 (Apartments) 150 ft. height limit |
Land Size: |
30,375 SF |
Building Size: |
24,288 SF |
Property Overview
****PRICE LOWERED BY $1,000,000 on 2-28-24****
****PRICE LOWERED BY $1,000,000 on 3-27-24****
FIRST TIME ON MARKET. 3-story concrete apartment building in Salt Lake next to Hoa Aloha Neighborhood Park. 30 units (all 2-bedrooms) on 30,375sf of A-2 zoned land (150’ height limit) with 38+ parking stalls. 28 units are 2 bed/1 bath (768sf) and 2 units are larger 2 bed/2 bath (1,184sf) with private lanais. 100% occupied. Rents under market and opportunities exist for additional income streams i.e. utility recapture/pet fees/etc. Concrete spall repairs completed and exterior painting is in progress. Coin Op laundry room on site (6 washers/6 dryers) with secured managers office complete with private bathroom.Property Highlights
- Trophy location near Airport, Military Bases, and next to large park.
- Over parked (RARE for Honolulu)
- CPR Potential
- Under market rents + additional income streams not yet explored
- Ideal future redevelopment location (150′ height limit)
- Well kept. New Spall repairs, security system and exterior painting.
Contact
