331-333 Hobron Ln - Apartments FOR SALE


Honolulu, HI 96815- Waikiki
$2,700,000 USD
808-208-8102
331-333 Hobron Ln, Honolulu, HI for Sale
$2,700,000 USD
Apartments - FOR SALE
1/22
null | 8.1% Cap Rate

331-333 Hobron Ln
Honolulu, HI 96815
Waikiki


HIGHLIGHTS

  • 18 all-concrete units with 18 parking stalls
  • New roof in 2023 with warranty
  • Renovated units feature granite counters, AC, dishwashers and vinyl hardwood flooring
  • Secured building with lush landscaping, courtyards, management office and coin op laundry room
  • In-place net cashflow after ground lease: $220,600!
  • 8.1% cap rate with in-place rents

OVERVIEW

INCREDIBLE CASHFLOW OPPORTUNITY IN WAIKIKI priced at only $150,000 per unit. 18 solid concrete renovated units with 18 parking stalls on a total of 12,914 SF of land in world-famous Waikiki. The property has no trouble staying rented, and Waikiki typically has higher rent appreciation than other neighborhoods due to the year-round global demand. This property is leasehold with 40 years remaining on the ground lease and 5 years of known rent. Ideal for a buyer looking to achieve a great return on their money for at least the next 40 years. Separately metered for electricity and tenants are billed back for water.

FOR SALE DETAILS

PRICE

$2,700,000 USD

PRICE/SF

$270 USD /SF

# OF UNITS

18

PRICE/UNIT

$150,000

CAP RATE

8.1%

% LEASED

100%

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

Hobron Apartments - Leasehold

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1949

PARKING SPACES

18

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

12,914 SF

ZONING

U/X2/13

APN/PARCEL ID

1-2-6-012-045-0000,1-2-6-012-046-0000

ASK ABOUT THIS PROPERTY

Matt RaffStandard Commercial LLCMore Info
808-208-8102

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Matt RaffStandard Commercial LLCMore Info
808-208-8102

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.