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22 Unit - Multifamily Investment Property 1415 Kinau St 22 Unit Apartment Building $3,500,000 ($159,091/Unit) 4.47% Cap Rate Honolulu, HI 96814
INVESTMENT HIGHLIGHTS
- Bill 7 redevelopment potential
- Close to UH, Ala Moana, Waikiki and major urban employers
- Common areas have been upgraded
- Prime urban multi-family location within walking distance of grocery, medical, restaurants, parks
- Most units have been upgraded
- A MUST SEE in person!
EXECUTIVE SUMMARY
Property Summary
• Address: 1415 Kinau Street, Honolulu
• TMK: 1-2-4-10-11
• Rental Units: 7 1BR/1BA, 2 studios with in-unit bathrooms, 13 studios with shared common facilities
• Parking: 4 Stalls
• Zoning: BMX-3 but currently taxed as residential
• Land Area: 8,334 sf
• Building Area: 6,667 sf
• Buildings: one 2-story concrete building and one 2-story wood building
Investment Summary
• Asking Price: $3,500,000
• 22 rental units
• In Place NOI: $156,502.15 Cap: 4.47%
• Proforma NOI: $169,176 Cap: 4.8%
Investment Opportunity
• Prime urban multi-family location within walking distance of grocery, medical, restaurants, parks
• Close to UH, Ala Moana, Waikiki and major urban employers
• Opportunity to increase rents
• Bill 7 redevelopment potential
• Most units have been upgraded
• Common areas have been upgraded
• Address: 1415 Kinau Street, Honolulu
• TMK: 1-2-4-10-11
• Rental Units: 7 1BR/1BA, 2 studios with in-unit bathrooms, 13 studios with shared common facilities
• Parking: 4 Stalls
• Zoning: BMX-3 but currently taxed as residential
• Land Area: 8,334 sf
• Building Area: 6,667 sf
• Buildings: one 2-story concrete building and one 2-story wood building
Investment Summary
• Asking Price: $3,500,000
• 22 rental units
• In Place NOI: $156,502.15 Cap: 4.47%
• Proforma NOI: $169,176 Cap: 4.8%
Investment Opportunity
• Prime urban multi-family location within walking distance of grocery, medical, restaurants, parks
• Close to UH, Ala Moana, Waikiki and major urban employers
• Opportunity to increase rents
• Bill 7 redevelopment potential
• Most units have been upgraded
• Common areas have been upgraded
DATA ROOM Click Here to Access
- Operating and Financials
FINANCIAL SUMMARY (PRO FORMA - 2022) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2022) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $3,500,000 | Building Class | C |
| Price Per Unit | $159,091 | Lot Size | 0.19 AC |
| Sale Type | Investment | Building Size | 6,667 SF |
| Cap Rate | 4.47% | Average Occupancy | 100% |
| No. Units | 22 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1933/2020 |
| Property Subtype | Apartment | Parking Ratio | 0.6/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | BMX-3 - • Zoning: BMX-3 but currently taxed as residential | ||
| Price | $3,500,000 |
| Price Per Unit | $159,091 |
| Sale Type | Investment |
| Cap Rate | 4.47% |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 6,667 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1933/2020 |
| Parking Ratio | 0.6/1,000 SF |
| Zoning | BMX-3 - • Zoning: BMX-3 but currently taxed as residential |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 7 | - | - |
| Studios | 15 | - | - |
1 1
Walk Score®
Walker's Paradise (98)
Bike Score®
Very Bikeable (89)
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VIDEOS
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22 Unit - Multifamily Investment Property | 1415 Kinau St
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