331-333 Hobron Lane
331-333 Hobron Lane
Honolulu, HI 96815
$2,700,000
Price
19
Beds
10,000 Sq. Ft.
$270 / Sq. Ft.
10,000
Sq. Ft.
$270
per Sq. Ft.
Description
INCREDIBLE CASHFLOW OPPORTUNITY IN WAIKIKI priced at only $150,000 per unit. 18 solid concrete renovated units with 18 parking stalls on a total of 12,914 SF of land in world-famous Waikiki. The property has no trouble staying rented, and Waikiki typically has higher rent appreciation than other neighborhoods due to the year-round global demand. This property is leasehold with 40 years remaining on the ground lease and 15 years of known rent, making it financeable and eligible for a 1031 exchange....INCREDIBLE CASHFLOW OPPORTUNITY IN WAIKIKI priced at only $150,000 per unit. 18 solid concrete renovated units with 18 parking stalls on a total of 12,914 SF of land in world-famous Waikiki. The property has no trouble staying rented, and Waikiki typically has higher rent appreciation than other neighborhoods due to the year-round global demand. This property is leasehold with 40 years remaining on the ground lease and 15 years of known rent, making it financeable and eligible for a 1031 exchange. Ideal for a buyer looking to achieve a great return on their money for at least the next 40 years. Separately metered for electricity and tenants are billed back for water.
- Listed by Michael M Okamoto • License #RB-22000 • Standard Management LLC • (808) 208-8107
Property Details for 331-333 Hobron Lane
View
Sunset
ZoningX2 - Apartment Precinct
NeighbourhoodWAIKIKI
Flood ZoneZone AE
Stories/Levels4-7
Land TenureLH - Leasehold
Location
Listing Courtesy of Standard Management LLC, Michael M Okamoto, License #RB-22000
Add your commute
LISTING UPDATED: 04/18/2024 10:25 AM
Property Details for 331-333 Hobron Lane
| Status | Active |
|---|---|
| MLS # | 202408267 |
| Days on Market | 18 |
| Taxes | $1,109 / month |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Multi-Family / Multi-Family |
| Year Built | 1949 |
| Lot Size | 0.15 AC / 6,500 SF |
| County | Honolulu County |
Location
Listing Courtesy of Standard Management LLC, Michael M Okamoto, License #RB-22000
Add your commute
Building Information for 331-333 Hobron Lane
Stories-Residences18Year Built1949Building Size-Lot Size0.15 AC / 6,500 SF
Payment Calculator
$15,844 per month
30 year fixed, 7.25% Interest
Principal and Interest
$14,735
Property Taxes
$1,109
HOA Dues
$0
The Payment Calculator is for illustrative purposes only.
Property Information for 331-333 Hobron 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: $1,109.00
- Tax Assessed Value: $6,075,800.00
- Tax Assessed Value Improvements: $1,597,800.00
- Tax Assessed Value Land: $4,478,000.00
- Tax Paid By Seller: No
- Tax Year: 2023
- Parcel Number: 1-2-6-012-046-0000
- HOA YN: No
School Information
- Elementary School: Lunalilo
- High School: Kaimuki
- Middle Or Junior School: Washington
Parking
- Parking Features: Assigned
- Parking Total: 18
- Other Parking Features: None
Property
Lot Information
- Property Frontage: Other
- Property Sub Type: Multi-Family
- Property Type: Multi-Family
- SQFT Building: 10000.0
- Sqft Total: 10000.0
- Land Recorded: Land Court
- Lot Features: Clear
- Lot Size Area: 6500.0
- Year Built: 1949
- Year Remodeled: 1990
- Building Type: Apartments, Multi Dwellings
Property and Assessments
- Documents: Lease Documents, P&L, Survey
- Photo Count: 25
- Property Condition: Excellent, Above Average
- Special Listing Conditions: None
- Disclosures: Listor Owner, Pet on Property
- Foreclosure: No
- Set Backs: None
- Supplement Count: 1
- TMK Area: 126
- TMK Condo Property Regime Number: 0
- TMK Division: 1
- TMK Parcel: 46
- TMKPLAT: 12
- TMK Section: 6
- TMK Zone: 2
Utilities
- Utilities: Cable, Gas, Internet, Overhead Electricity, Public Water, Sewer Fee, Water
- Sewer: Connected
- Utilities Meters: Electric, Gas, Individual
Interior and Exterior Features
Exterior Features
- Amenities: A/C, Secured Lobby
- Construction Materials: Concrete
- Easements: Sewer
- Elevators Number Of: 0
- Recreation Facilities: None
- Roof: Custom/Specialty
Interior Features
- Furnished: Partial
- Laundry Facilities: Coin, Leased Equipment
Multi Family
Multi-Family Information
- Commercial Spaces Number Of: 0
- Studio Units Number Of: 2
- Unit One Number Of Bed: 13
- Unit Three Number Of Bed: 0
- Unit Two Number Of Bed: 3
- Number Of Units Total: 18
Income & Expenses
- Total Annual Operating Expenses: $126,637.00
- Total Income: $499,350.00
- Expenses Include: Excise Tax, Insurance, Mgmt Fee, Other, Property Tax, Repair Maintenance
- Net Operating Income: $352,739.00
- Other Income: $5,032.00
Agent
Sale and Listing
- DOM: 4
- Listing Service: Full Service
- Management Company Name: Cirrus Asset Management
- Management Company Phone: 800-400-6386
- MLS: HI Central
- MLS Area Major: Metro
- Status: Active
- Public Remarks: INCREDIBLE CASHFLOW OPPORTUNITY IN WAIKIKI priced at only $150,000 per unit. 18 solid concrete renovated units with 18 parking stalls on a total of 12,914 SF of land in world-famous Waikiki. The property has no trouble staying rented, and Waikiki typically has higher rent appreciation than other neighborhoods due to the year-round global demand. This property is leasehold with 40 years remaining on the ground lease and 15 years of known rent, making it financeable and eligible for a 1031 exchange. Ideal for a buyer looking to achieve a great return on their money for at least the next 40 years. Separately metered for electricity and tenants are billed back for water.
- Possession: At Closing, Subject To Tenancy
Showing and Remarks
- Showing Instructions: Two Day Notice Reqd, Appointment Only, Call Listor
Rental
Rent Information
- Lease Expiration Year: 1964
- Lease Fee Month: $11,008.55
- Lessor Name: Metropolitan Properties LTD
- Tenants Responsibilities Include: Electricity, Parking, Water
- Total Actual Rent: $36,580.00
Property History for 331-333 Hobron 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.
Schools near 331-333 Hobron 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 - | K to 8 |
Rating | School | Distance |
|---|---|---|
President Thomas Jefferson Elementary School PublicPK to 5 | ||
President George Washington Middle School Public6 to 8 | ||
Kaimuki High School Public9 to 12 | ||
Voyager - A Public Charter School CharterK to 8 |
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 Standard Management LLC, Michael M Okamoto, License #RB-22000