1218 King Street
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1218 King Street
20 Unit Apartment Building $4,600,000 ($230,000/Unit) 4.91% Cap Rate Honolulu, HI 96817
Investment Highlights
- Total Buildings: 2
- Parking: 17 *3 tandem, not including stalls fronting the building
- Year Built: 1970
- Units: 9 One-Bed, 4 Two-Bed, 1 Three-Bed, 1 Warehouse, 4 Retail
- Zoning: BMX-3
- Land SQFT: 9,507 & Interior SQFT: 10,785
Executive Summary
Excellent opportunity to manage up to market rents and earn a 6.55% cap! Well maintained three-story BMX-zoned building with mixed use, retail on the bottom front floor. 2 structures connected by a warehouse with 1:1 parking (9 ones, 4 twos, 1 three, and 4 retail [2 of which combine 2 spaces]). Additional parking on the King Street side of the property is used by customers and NOT counted in 17 space total. Owner recently fixed spalling and painted, and has taken excellent care of the building. Located across from King St. Post Office and a block from Farrington HS, so easy access to downtown and freeway in all directions.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$315,000
|
$29.21
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$89,363
|
$8.29
|
| Net Operating Income |
$225,637
|
$20.92
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $315,000 |
| Annual Per SF | $29.21 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $89,363 |
| Annual Per SF | $8.29 |
| Net Operating Income | |
|---|---|
| Annual | $225,637 |
| Annual Per SF | $20.92 |
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 9 | - | - |
| 2+1 | 4 | - | - |
| 3+1 | 1 | - | - |
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Walk Score ®
Very Walkable (86)
Transit Score ®
Excellent Transit (70)
PROPERTY TAXES
| Parcel Number | 1-1-6-002-063-0000 | Improvements Assessment | $967,500 (2024) |
| Land Assessment | $2,093,500 (2024) | Total Assessment | $3,061,000 (2024) |
PROPERTY TAXES
Parcel Number
1-1-6-002-063-0000
Land Assessment
$2,093,500 (2024)
Improvements Assessment
$967,500 (2024)
Total Assessment
$3,061,000 (2024)
zoning
| Zoning Code | BMX-3 (Business Mixed Use) |
| BMX-3 (Business Mixed Use) |
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1218 King Street
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