Honolulu - Beach Property For Sale #5622094

Rare opportunity to own a multi-family property in a prime location on Kapiolani Blvd! This large 9,503 square feet A-3 zoned land is in the McCully/Moiliili neighborhood between University Ave and Kamoku Street. The property has 10 units total: 6 one-bedroom, one-bath units and 4 two-bedroom, one-bath units. 9-pkg stalls, 11 electric meters, 1 water meter, on-site common coin (owned) W/D laundry. The building is not in a flood zone & has C&C trash pick-up service, a potential $15-20K savings. Front bldg: 2 stories. Hollow tile (built 1959). 6 spacious one-bedroom, one-bath units (504 sqft). 1st floor units with courtyard. Back bldg: 2 stories. Hollow tile on 1st floor & wood frame on 2nd floor (built 1953). 4 two-bedroom, one-bath units (563 sqft). Fully occupied - primarily long-term tenants, most on MTM. Current rents are below market allowing buyer room to upgrade units and maximize income. Ideally located between University of Hawaii at Manoa and Waikiki. Convenient to Iolani School / Ala Wai Elementary School, UH, Ala Wai Golf Course, Parks, Diamond Head, McCully and Ala Moana Shopping Center, on/off freeway, bus lines, and more!