2963 Koali Road

2963 Koali Road Honolulu, Hawaii 96826

  • 6,076 Square Feet
  • Multifamily-Apartment Residential
  • For Sale

Summary Description

2963 Koali Road is a fee simple investment opportunity consisting of nine (9) detached residential units on approximately 37,830 square feet of land. The property is ideally situated in urban Honolulu on the island of Oahu, adjacent to the University of Hawaii Manoa. Over the past five years the owner has made substantial renovations to each of the nine (9) homes, with completion of the last house occurring in early 2017. The property is located in a residential district with stable cash flow from in-place rental rates. Additional value could be derived by increasing rental rates, adding additional beds in the units for student housing, reconstructing new homes on the site or possibly selling the homes individually through a condominium property regime (CPR).

- Centrally located in urban Honolulu
- Close proximity to the University of Hawaii at Manoa, Waikiki, Ward Village Center, Ala Moana Center-Hawaii's largest and busiest shopping center, Kakaako a developing entertainment area including restaurants, shopping and nightlife, and Honolulu's Central Business District
- Immediate access to and from H-1 Freeway, a couple hundred yards from the on/off ramps
- Near bus lines
- Located in the University/Kaimuki area of Honolulu, with high density of renters

Price: $5,250,000.00

Lot Size: 37830 Square Feet

Building Size: 6076 Square Feet

Area Available: 6,076 Square Feet

2017 Budgeted NOI

$179,100

2016 Actual NOI

$171,000

Tenure

Fee Simple

Land Area

37,830 SF

Total Building Size

Approx. 6,076 SF

# of Units

9 detached

TMK

(1) 2-8-27-2

Effective Year Built

1938

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