1146 Elm St
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1146 Elm St
6 Unit Apartment Building $1,750,000 ($291,667/Unit) 5.53% Cap Rate Honolulu, HI 96814
Investment Highlights
- Kaka`ako Special District
- Redevelopment/ Value Add Opportunity
- Stable Tenant Pool, Desirable Location
Executive Summary
Prime corner lot in the Kaka`ako Special District on main artery, blocks from Ala Moana Center with 6 units: 1 three, 3 twos, 2 ones. Currently used by a non-profit that is expanding, so property taxes are super low. All income and expenses are pro forma, and Seller may wish to lease back the property while they find a new home. Request flyer for pro forma income/expenses, rental comparable analysis, and sales comps, along with more property information. Nice layout with existing laundry facilities can easily be converted to coin machines for more income. All units separately metered for electric, multiple gas meters, one water meter.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,750,000 | Apartment Style | Low Rise |
| Price Per Unit | $291,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 5.53% | Building Size | 3,148 SF |
| Sale Conditions | 1031 Exchange | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1940 |
| Property Subtype | Apartment | Parking Ratio | 1.27/1,000 SF |
| Price | $1,750,000 |
| Price Per Unit | $291,667 |
| Sale Type | Investment |
| Cap Rate | 5.53% |
| Sale Conditions | 1031 Exchange |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 3,148 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1940 |
| Parking Ratio | 1.27/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | 300 |
| 2+1 | 3 | - | 500 |
| 3+1 | 1 | - | 1,000 |
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Walk Score ®
Walker's Paradise (97)
Transit Score ®
Excellent Transit (77)
Bike Score ®
Very Bikeable (89)
zoning
| Zoning Code | KA (Kaka`ako Special District allowing for Bill 7 development) |
| KA (Kaka`ako Special District allowing for Bill 7 development) |
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1146 Elm St
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