INVESTMENT SUMMARY – IN ESCROW
- Asking Price: $4,500,000
- Address: 2139 Algaroba Street, Honolulu, Hawaii
- 2017 Potential NOI: $286,000
- 2016 Budgeted NOI: $219,000
- Tenure: Fee Simple
- Land Area: 14,743 square feet
- Building Area: 12,294 square feet
- TMK No. : (1) 2-7-7: 51
- Number of Units: 26
- Height Limit: 150 Feet
- Occupancy Rate: 96%
- Zoning: A-2 (Medium Density Apartment)
- Year Built: 1928
INVESTMENT HIGHLIGHTS
- In-place income
- 96% Occupied
- Rare fee simple development opportunity
- Well-located asset adjacent to Waikiki with over 5.8 million visitors annually
- Strong demand for rental units with very limited supply
- High barriers to entry due to lack of available land
- Shortage of new low-rise apartment developments
Click Here to Download the Property Brochure
Click Here to Download the Confidentiality Agreement