Diamond Head Home sold: 1841 Palolo, Diamond Head, Honolulu, Hawaii on the island of Oahu

SOLD
MLS: 201713302

Asking Price: $5,395,000 FS - Fee Simple
Sold Price: $5,220,000
Sold Date: 01/26/2018
Type: Multi-Family
District: Diamond Head
Address: 1841 Palolo Avenue, Honolulu, HI
Neighborhood: Palolo
Land Area: 12,480 SF
View: City,Mountain,Ocean
Parking: Assigned
Days on Market: 2504
(The Price of the property was lowered by $555,000 on 09/25/2017)
Year Built: 1969
Easements: Other
Zoning: 05 - R-5 Residential District
Land Recorded: Regular System
Property Taxes: $789,.75
Assessed Value: $2,707,700,.00
Assessed Ratio: 199.25%
Listing Courtesy: Commercial Inv. Strategies

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Beautifully renovated turn-key building with brand new exterior, incl. roof, paint, and asphalt, and more! Hollow tile apartment opportunity in desirable area with few comparable buildings and an established, stable rental pool. Tenants pay H2O, gas & electric. Actual income returns 4%. Market rents are $1650 for ones, $1850 for twos, but not a lot of comps because the area is mostly single family houses. Pro forma analysis uses super conservative rents to produce $336,600/year.

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