1120 Pua Lane
1120 Pua Lane
Honolulu, HI 96817
$699,000
Last Sold Price
27
Beds
7,170 Sq. Ft.
$97 / Sq. Ft.
7,170
Sq. Ft.
$97
per Sq. Ft.
Sold 9/23/21
Sold 9/23/21
Description
Cash cow. Rare Leasehold asset with excellent income and irresistible pricing. Built in 1993, this income GEM is well maintained and rented by the room. Owners live in one of the units and make sure the property sparkles. Better than 1:1 parking. Currently rented BY THE ROOM (38 rooms) with shared kitchen and bathroom= 7 five bed/ 1 ba + 2 three bed, one ba. Can convert to 9 separate rentals to lessen management and overhead (electric and water is included, 9 electric meters, 1 water meter), plus...Cash cow. Rare Leasehold asset with excellent income and irresistible pricing. Built in 1993, this income GEM is well maintained and rented by the room. Owners live in one of the units and make sure the property sparkles. Better than 1:1 parking. Currently rented BY THE ROOM (38 rooms) with shared kitchen and bathroom= 7 five bed/ 1 ba + 2 three bed, one ba. Can convert to 9 separate rentals to lessen management and overhead (electric and water is included, 9 electric meters, 1 water meter), plus Bonus electric charging station for EV)! Lender has verified a $270,000 loan based on “known” rental period to 2027; lease ends in 2037.
- Listed by Christina L Dwight • License #RB-20978 • Commercial Inv. Strategies
Property Details for 1120 Pua Lane
View
None, Other
Zoning12 - A-2 Medium Density Apartme
NeighbourhoodPALAMA
Flood ZoneZone X
Stories/LevelsThree
Land TenureLH - Leasehold
Location
Listing Courtesy of Commercial Inv. Strategies, Christina L Dwight, License #RB-20978
Sold By Savio Realty Ltd., Lillian Shaw, License #RS-68246
Add your commute
LISTING UPDATED: 09/24/2021 10:05 AM
Property Details for 1120 Pua Lane
| Status | Sold |
|---|---|
| MLS # | 202119729 |
| Days on Market | 15 |
| Taxes | $785 / month |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Multi-Family / Multi-Family |
| Year Built | 1991 |
| Lot Size | 0.26 AC / 11,500 SF |
| County | Honolulu County |
Location
Listing Courtesy of Commercial Inv. Strategies, Christina L Dwight, License #RB-20978
Sold By Savio Realty Ltd., Lillian Shaw, License #RS-68246
Add your commute
Building Information for 1120 Pua Lane
Stories-Residences9Year Built1991Building Size-Lot Size0.26 AC / 11,500 SF
Payment Calculator
$4,600 per month
30 year fixed, 7.25% Interest
Principal and Interest
$3,815
Property Taxes
$785
HOA Dues
$0
The Payment Calculator is for illustrative purposes only.
Property Information for 1120 Pua Lane
Summary
Location and General Information
- Topography: Level
- City: Honolulu
- County Or Parish: Oahu
- State Or Province: HI
- Location: Inside
Taxes and HOA Information
- Fee Options: None
- Tax Amount: $784.90
- Tax Assessed Value: $2,691,100.00
- Tax Assessed Value Improvements: $824,700.00
- Tax Assessed Value Land: $1,866,400.00
- Tax Paid By Seller: Yes
- Tax Year: 2021
- Parcel Number: 1-1-7-031-005-0000
- HOA YN: No
Parking
- Parking Features: Assigned, Open
- Parking Total: 18
- Other Parking Features: <10 Spaces
Property
Lot Information
- Property Frontage: Other
- Property Sub Type: Multi-Family
- Property Type: Multi-Family
- SQFT Building: 7170.0
- Sqft Total: 7170.0
- Land Recorded: Regular System
- Lot Features: Clear
- Lot Size Area: 11500.0
- Year Built: 1991
- Building Type: Apartments
Property and Assessments
- Documents: Lease Documents, P&L, Title Search
- Photo Count: 21
- Property Condition: Above Average
- Special Listing Conditions: None
- Disclosures: None
- Forecloseure Civil Case Number: NA
- Foreclosure: No
- Set Backs: None
- Supplement Count: 1
- TMK Area: 117
- TMK Condo Property Regime Number: 0
- TMK Division: 1
- TMK Parcel: 5
- TMKPLAT: 31
- TMK Section: 7
- TMK Zone: 1
Utilities
- Utilities: Cable, Gas, Overhead Electricity, Public Water, Sewer Fee, Water
- Sewer: Connected
- Utilities Meters: Electric, Water
Interior and Exterior Features
Exterior Features
- Amenities: Fire Sprinkler, Resident Manager
- Construction Materials: Wood Frame
- Easements: None
- Recreation Facilities: None
- Roof: Composition
Interior Features
- Furnished: Partial
- Laundry Facilities: Coin
Multi Family
Multi-Family Information
- Commercial Spaces Number Of: 0
- Studio Units Number Of: 0
- Unit One Number Of Bed: 0
- Unit Three Number Of Bed: 9
- Unit Two Number Of Bed: 0
- Number Of Units Total: 9
Income & Expenses
- Total Annual Operating Expenses: $165,098.06
- Total Income: $296,130.04
- Expenses Include: Excise Tax, Insurance, Lease Rent, Other, Property Tax, Repair Maintenance, Sewer Fee
- Net Operating Income: $131,031.98
- Other Income: $477.50
Agent
Sale and Listing
- DOM: 15
- Listing Service: Full Service
- Management Company Name: Self Managed
- MLS: HI Central
- MLS Area Major: Metro
- Status: Sold
- Public Remarks: CASH COW. Rare Leasehold asset with excellent income and irresistible pricing. Built in 1993, this income GEM is well maintained and rented by the room. Owners live in one of the units and make sure the property sparkles. Better than 1:1 parking. Currently rented BY THE ROOM (38 rooms) with shared kitchen and bathroom= 7 five bed/ 1 ba + 2 three bed, one ba. Can convert to 9 separate rentals to lessen management and overhead (electric and water is included, 9 electric meters, 1 water meter), plus Bonus electric charging station for EV)! Lender has verified a $270,000 loan based on “known” rental period to 2027; lease ends in 2037.
- Possession: At Closing, Subject To Tenancy
Showing and Remarks
- Showing Instructions: Call Listor, Listor Must Be Present
Rental
Rent Information
- Lease Expiration Year: 2037
- Lease Fee Month: $6,845.00
- Lessor Name: Maeda Trust
- Tenants Responsibilities Include: None
- Rent Year First: 2027
- Total Actual Rent: $24,200.00
Property History for 1120 Pua Lane
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1120 Pua Lane
Taxable ValueLand$1,918,200Additions$826,600Total$2,744,800
Tax Record2022$9,296 ($775 / month)
Home Facts
Total Finished SqFt7,170 SqFtAbove Grade Finished SqFt7,170 SqFtStories3Lot Size11,500 SqFtStyleMulti-Family Res (5+ Units)Year Built1991ZoningA-2CountyHONOLULUAPN1-1-7-031-005
Schools near 1120 Pua Lane
This home is within Hawaii Department Of Education.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Charter - | 6 to 8 |
Rating | School | Distance |
|---|---|---|
Princess Miriam K Likelike Elementary School PublicPK to 5 | ||
Central Middle School Public6 to 8 | ||
President William Mckinley High School Public9 to 12 | ||
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.
Listing Courtesy of Commercial Inv. Strategies, Christina L Dwight, License #RB-20978