715 Piikoi Street, Honolulu HI, 96816

Under Contract

715 Piikoi Street

Honolulu HI, 96816

$5,300,000

$419.44 per sqft

Under Contract

18 Beds

12,636 sqft

Multi-family

Built in 1968

18 CMU one-bedroom units near Ala Moana with 29 parking stalls! Proforma 5.6% cap rate at market rents. Average in-place rents are $1,183, far below market, and all tenants are month-to-month. Each unit is approx. 491 SF and in classic condition, allowing an investor the opportunity to add value by renovating units and increasing rents to market rates. The property consists of 18 one-bedroom/one-bathroom CMU units, each with a private lanai, and most with a sink and mauka views. The property has a large covered parking garage with 29 parking stalls and ingress/egress from Piikoi and Alder St. The secured laundry room has 2 landlord-owned coin-operated washers and dryers and has its own bathroom for tenant convenience. There is abundant landlord storage space on-site. Building is separately metered for electricity and boasts mature landscaping. Walking distance to Walmart and Ala Moana Shopping Center.

202326083

MLSⓇ ID

November 28, 2023

Listed

May 9, 2024

Updated

Map

715 Piikoi Street
Honolulu HI, 96816

Interior Features

Total Stories: 3
Bedrooms: 18
Fireplace: No
Cooling: No
Heating: No

Exterior/Building Features

Lot Size: 8,704 Acres
Lot Features: Level

School Information

High School: Mckinley
Elementary School: Kaahumanu

Other Property Details

Area Name: Metro
Taxes: $10,032
Tax Frequency: Annually
Days on Market: 121
Garage: No
Parking Total: 29
View: Yes
View Description: Mountain(s)
County: Oahu
Water Source: Public
Pool: No
Zoning: 12 - A-2 Medium Density Apartme

Courtesy of Standard Management LLC, Michael M Okamoto

Listing Contact: (808) 208-8107

Based on information from the Multiple Listing Service of HI - Honolulu Board of REALTORS / HiCentral (HBR) listings last updated on 5/9/2024 11:51 AM UTC. Information is deemed reliable but not guaranteed. Copyright: 2024 by the Honolulu Board of REALTORS®/ HICentral. Some of the active listings appearing on this site may be listed by other REALTORS®. If you are interested in those active listings, our company may represent you as the buyer's agent. If the active listing you are interested in is our company's active listing, you may speak to one of our agents regarding your options for representation. IDX information is provided exclusively for consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS. The MLS may, at its discretion, require the use of other disclaimers as necessary to protect participants and/or the MLS from liability.

Data last updated 11:51 AM UTC, 5/9/2024