Bought with Real Estate Strategies, LLC
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Key Details
Sold Price $7,000,000
Property Type Commercial
Sub Type Industrial
Listing Status Sold
Purchase Type For Sale
Subdivision Waikiki
MLS Listing ID 202119790
Sold Date 01/25/22
Construction Status Average Condition
HOA Y/N No
Year Built 1947
Annual Tax Amount $14,892
Property Description
The Ala Wai consists of two (2) multi-family buildings containing twenty-one (21) apartments, ten (10) parking stalls, and coin operated community laundry. Centrally located in Waikiki, the state’s most popular tourist destination, The Ala Wai is located on a highly traveled roadway with convenient access to amenities such as hotels, restaurants, shopping, entertainment, recreational areas and world famous Waikiki Beach.
The offering includes fee simple interest in both buildings together with 7,907 square feet of land zoned apartment precinct. With a stable long-term tenant mix, this is a relatively low-risk investment opportunity and priced accordingly with plenty of upside as rents have not been increased since March 2020 due to the Governor’s 21st Proclamation related to Covid-19.
Location
State HI
County Oahu
Community Other
Area Metro
Interior
Cooling None
Flooring Other
Fireplace No
Exterior
Garage Assigned, On Site, On Street
Community Features Other
Utilities Available Electricity Available, Natural Gas Available, Sewer Connected
Parking Type Assigned, On Site, On Street
Total Parking Spaces 10
Building
Story 4
Entry Level Three Or More
Sewer Connected
Level or Stories Three Or More
Construction Status Average Condition
Others
Tax ID 1-2-6-021-047-0000
Financing Conventional
Special Listing Condition None
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