Equus Hotel - Waikiki Hotel Repositioning Opportunity

1696 Ala Moana Blvd Honolulu, Hawaii 96814

  • 27,476 Square Feet
  • Hotel
  • For Sale

Summary Description

PROPERTY HIGHLIGHTS

  • All 68 units in the building are wholly owned
  • No additional condominiums included in the transaction
  • Raised to 3.5 stars on Expedia based on restaurant
  • Walking distance to beach
  • Recent enhancements include:
    • Renovated deck area
    • New cocktail bar
    • New coffee bar
  • Reconfigured lobby and check in area

 

Price: $23,000,000.00

Lot Size: 6,864 Square Feet

Building Size: 27,476 Square Feet

Area Available: 27,476 Square Feet

2016 Actual NOI

$1,239,000

2017 Actual NOI

$871,800

2018 Budgeted NOI

$1,355,000

Tenure

Fee Simple

Floors

10

# of Rooms

68

TMK Number

(1) 2-6-11: 20

Zoning

APART within the Waikiki Special District

Features:

  • Rare fee simple boutique hotel opportunity
  • Unencumbered of management operations
  • Well-located boutique hotel at the entrance to Waikiki
  • High barriers to entry due to lack of available land and high construction costs
  • Strong hotel market fundamentals
  • Profitable lodging facility with tremendous potential for additional growth in new income
  • Resort fee newly implemented to dramatically increase revenue
Related Documents:

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