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1517 Miller Street, Honolulu, Hawaii 96813 1517 Miller St 6 Unit Apartment Building $2,050,000 ($341,667/Unit) 4.08% Cap Rate Honolulu, HI 96813
Investment Highlights
- Total Units: 6
- Parking: 10
- 3,963sf of Interior
- Unit Type: Two-Beds
- 10,400sf of Land
- Year Built: 1924
Executive Summary
Excellent opportunity to develop Bill 7 project for less than $200/sf. Nice, big lot 2 blocks to Queens Hospital in a low risk flood zone (x) and no additional setbacks from the street. City views possible from upper floors. Existing soils study and TOPO survey to be made available upon accepted offer. Buyer to accept existing survey, and Buyer shall pay for any additional update required by itself or its lender. Current setup is 6 legal 2-bedroom, 1 bath units located in 3 structures: front building is 4 units (1517, C, D, & E) with 2 stand-alone cottages in the back (A & B). 2 units renovated in the past 5 years. Coin laundry is owned. All units separately metered for electric and gas (heaters and stoves), 1 water meter. See agent showing notes for instructions on requesting a marketing package with rent roll, inc/exp, and sales comps.
Property Facts
| Price | $2,050,000 | Building Class | C |
| Price Per Unit | $341,667 | Lot Size | 0.24 AC |
| Sale Type | Investment | Building Size | 3,963 SF |
| Cap Rate | 4.08% | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1924/2021 |
| Property Subtype | Apartment | Parking Ratio | 2.52/1,000 SF |
| Zoning | U/12/12 | ||
| Price | $2,050,000 |
| Price Per Unit | $341,667 |
| Sale Type | Investment |
| Cap Rate | 4.08% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.24 AC |
| Building Size | 3,963 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1924/2021 |
| Parking Ratio | 2.52/1,000 SF |
| Zoning | U/12/12 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | - | 661 |
1 1
Very walkable
80/100
Moderately drivable
60/100
Good public transit
70/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 1-2-1-037-028-0000 | Improvements Assessment | $187,700 |
| Land Assessment | $1,900,500 | Total Assessment | $2,088,200 |
Property Taxes
Parcel Number
1-2-1-037-028-0000
Land Assessment
$1,900,500
Improvements Assessment
$187,700
Total Assessment
$2,088,200
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1517 Miller Street, Honolulu, Hawaii 96813 | 1517 Miller St
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