2141-2144 Palolo Ave
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2141-2144 Palolo Ave
7 Unit Apartment Building $2,213,000 ($316,143/Unit) Honolulu, HI 96816
Investment Highlights
- Exceptional Location
- Seamless Unit Mix
- Flexible Exit Strategies
- Strong Demand
- High Barriers To Entry
Executive Summary
CBRE, Inc. is proud to exclusively present 2144 Kauhana Street Apartments. Conveniently located in the heart of Palolo at the corner of Palolo Ave and Kauhana Street, the 7-unit multifamily and ground-floor office building consists of 5,416 SF of building area, on two levels plus a vacant R-5 zoned lot that is used for parking on a total of 9,880 square feet. The sale can be an investment or owner-user opportunity (specifically for the ground floor office building).
The site offers an attractive location and is in close proximity to a multitude of amenities in the area, including restaurants, shopping, and employment opportunities in the dense urban Kaimuki/Palolo neighborhood. A future owner could capitalize on the existing tenancy while implementing a renovation program and bringing rents up as the market continues to be extremely tight. There is an opportunity to take advantage of the stabilized asset while going through the planning and permitting process to either develop the vacant parcel into a new residence while the parcel is being leased for 3 years.
The site offers an attractive location and is in close proximity to a multitude of amenities in the area, including restaurants, shopping, and employment opportunities in the dense urban Kaimuki/Palolo neighborhood. A future owner could capitalize on the existing tenancy while implementing a renovation program and bringing rents up as the market continues to be extremely tight. There is an opportunity to take advantage of the stabilized asset while going through the planning and permitting process to either develop the vacant parcel into a new residence while the parcel is being leased for 3 years.
Property Facts
| Price | $2,213,000 | Building Class | C |
| Price Per Unit | $316,143 | Lot Size | 0.23 AC |
| Sale Type | Investment | Building Size | 5,416 SF |
| No. Units | 7 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1962 |
| Apartment Style | Low Rise | Parking Ratio | 1.84/1,000 SF |
| Price | $2,213,000 |
| Price Per Unit | $316,143 |
| Sale Type | Investment |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 5,416 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1962 |
| Parking Ratio | 1.84/1,000 SF |
PROPERTY TAXES
| Parcel Number | 1-3-4-023-038-0000 | Improvements Assessment | $311,400 |
| Land Assessment | $1,061,100 | Total Assessment | $1,372,500 |
PROPERTY TAXES
Parcel Number
1-3-4-023-038-0000
Land Assessment
$1,061,100
Improvements Assessment
$311,400
Total Assessment
$1,372,500
zoning
| Zoning Code | R-5 (Residential zoning: single-family homes, 5,000 sq ft min lot.) |
| R-5 (Residential zoning: single-family homes, 5,000 sq ft min lot.) |
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2141-2144 Palolo Ave
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