331 & 333 Hobron Ln

Available
  • $2,595,000

Unique Waikiki Investment Opportunity!! 1 block from Ilikai Harbor & Kaiser’s surf break, super close to Ala Moana Center + Beach Park. Solid, charming 4-story hollow tile building with 18 parking spaces in the heart of Waikiki earning excellent rents. Just like Fee Simple with 44 years remaining on the lease and known rents until 2064. 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. 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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Price: $2,595,000
Address:331 & 333 Hobron Ln
City:Honolulu
State:HI
Zip Code:96815

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