1218 N King Street

1218 North King Street, Honolulu, HI

$4,600,000

Price

4.58%

Cap Rate

6.35%

Pro Forma Cap Rate

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Street
Map
Overview
Cap Rate
4.58%
Pro Forma Cap Rate
6.35%
NOI
$210,739
Building Size
10,785 sqft
Lot Area
9,507 sqft
Occupancy
100%
Class
B
Units
20
Average Room Size
539 sqft
Year Built
1970
Price Per Unit
$230,000
Zoning
BMX-3
Floors
3
Parking Spots
17
Year Last Renovated
2022
Construction Status
complete
Roof
Custom/Specialty
CeilingHeight
200
Description

Opportunity knocks! TWO 3 story hollow tile buildings located across from the post office on N King, this well-maintained 20-unit apartment building has 6 retail spaces, 9 one-bedroom units, 4 two-bedrooms, 1 three-bedroom, and 1 bonus warehouse unit (approx 645sf). Owner recently fixed spalling and painted, and has taken excellent care of the building. Property has some covered parking, and bonus parking fronting the building not included in the 17 stalls. Access from Long Lane via N King. Opportunity to create better cash flow with minimal cap expenditure due to below market rents.

Highlights
  • Total Buildings: 2
  • Units: 20: 9 one bedrooms, 4 two bedrooms 1 three bed, 6 retail spaces (2 are combined), 1 warehouse
  • Parking spaces: 17, *3 tandem, not including stalls fronting the building
  • Zoning: BMX-3
  • Year Built: 1970
  • Land SQFT: 9,507
  • Interior SQFT: 10,785
Documents
Title
CIS_Standard_Addendum.pdf
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Location
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