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Waikiki Walina Apartments 441 Walina St 72 Unit Apartment Building For Sale Honolulu, HI 96815
Investment Highlights
- Unique opportunity to acquire a fee simple property in a high barrier to entry submarket at well below replacement cost
- Located just two blocks away from the world famous Waikiki Beach and Kalakaua Avenue
- Turnkey: Option to keep the current highly successful leasing and management team in place
- Stabilized turnkey asset, ideal for 1031 Exchange buyer, or student housing operator
- Strong demand from renters seeking a location within walking distance to dining, shopping, entertainment, and public transportation
- Two full service grocery stores (Waikiki Market, and Target) located just steps away
Executive Summary
The Waikiki Walina (72 studio apartments over ground floor commercial space) is an extremely rare opportunity to acquire a multifamily asset of scale in the heart of Waikiki. (The majority of Waikiki inventory is low-rise walk-ups, ~12 to 25 units.) Turnkey asset in a high-demand submarket, with demonstrated consistent high occupancy and stable cash flow. Major capital expenditures have been completed recently (full elevator modernization, exterior concrete spall repair and painting, common areas (lobby, hardscape, landscape) and all commercial and apartment units have been renovated.
Property Facts
| Sale Type | Investment | Lot Size | 0.22 AC |
| No. Units | 72 | Building Size | 42,825 SF |
| Property Type | Multifamily | Average Occupancy | 99% |
| Property Subtype | Apartment | No. Stories | 10 |
| Apartment Style | Mid-Rise | Year Built/Renovated | 1968/2015 |
| Building Class | B | Parking Ratio | 0.61/1,000 SF |
| Zoning | Apartment (Waikiki SD) - Apartment (Waikiki Special District) | ||
| Sale Type | Investment |
| No. Units | 72 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.22 AC |
| Building Size | 42,825 SF |
| Average Occupancy | 99% |
| No. Stories | 10 |
| Year Built/Renovated | 1968/2015 |
| Parking Ratio | 0.61/1,000 SF |
| Zoning | Apartment (Waikiki SD) - Apartment (Waikiki Special District) |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Disposal
- Microwave
- Kitchen
- Granite Countertops
- Refrigerator
- Stainless Steel Appliances
- Tub/Shower
- Views
- Freezer
- Smoke Free
- Vinyl Flooring
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Property Manager on Site
- Disposal Chutes
- Smoke Free
- Elevator
- Maintenance on site
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 72 | - | 330 - 498 |
Exceptionally walkable
90/100
Fairly drivable
50/100
Good public transit
70/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 1-2-6-021-018-0000 | Improvements Assessment | $5,847,400 |
| Land Assessment | $3,449,300 | Total Assessment | $9,296,700 |
Property Taxes
Parcel Number
1-2-6-021-018-0000
Land Assessment
$3,449,300
Improvements Assessment
$5,847,400
Total Assessment
$9,296,700
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Waikiki Walina Apartments | 441 Walina St
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