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331 & 333 Hobron Ln

Honolulu, Hawaii

Price:
$2,595,000

Size:
10,000 sqft.

Location:
331 & 333 Hobron Ln, Honolulu, Hawaii

Includes:
RefindPro Property
Description:

Unique Waikiki Investment Opportunity!! 1 block from Ilikai Harbor & Kaiser's surf break, super close to Ala Moana Center + Beach Park. Solid, all-interiors-renovated 4-story hollow-tile building w/ 18 parking spaces in the heart of Waikiki earning excellent rents. 44 years remaining on the lease which means banks will treat it like Fee Simple. 350' height limit, if you want to redevelop! Buy this 17.58% IRR cash flow for $695,000 in cash + the assumable Fannie Mae mortgage of $1.9M at 4.32% originated in 2016 with a 10 year term providing Buyers with an excellent leverage opportunity. NOI is 17.86% WITH mortgage and LH rent payments! DPP records show 19 units, so possibility to add an extra unit--Buyer to do its own due diligence to confirm. All units separately metered for electricity; gas on property; water charged back to the tenant.

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