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SOLD
MLS: 202127221
 
Asking Price: $2,200,000 FS - Fee Simple
Sold Price: $2,050,000
Sold Date: 03/28/2022
Type: Multi-Family
District: Metro
Address: 2908 Varsity Circle, Honolulu, HI
Neighborhood: Moiliili
Land Area: 5,001 SF
View: City,Mountain
Parking: Assigned,Open
Days on Market: 1589
Year Built: 1955
Zoning: 11 - A-1 Low Density Apartment
Land Recorded: Land Court
Property Taxes: $579,.38
Assessed Value: $1,597,100,.00
Assessed Ratio: 137.75%
Listing Courtesy: Ivy K Realty, LLC
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Great location close to UH Manoa, Puck's Alley, and easy access west or east bound. This property has true pride of ownership and is very well maintained. Majority of the units have been refurbished and only a few units left to add your own personal touch. The one bedroom units are very spacious for one bedroom standards. The 8th unit was converted to a 2 bedroom unit so the 7th was decreased to a studio. The exterior has been recently painted and every unit could have a washer/dryer hook up or install your own coin operated laundry machines. The rent roll is lower than market because half of the building is occupied by family and friends. 6 out of the 8 leases are on a month to month term. There are 7 open parking stalls available. There used to be 8 but owner wanted to have slightly wider stalls. This is one of the cleanest and well kept buildings in the neighborhood and will be a perfect cash flow for a 1031 exchange. Please make an offer subject to inspection as we do not want to disrupt the tenants especially during the pandemic.


 
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