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22 Palione Pl - Turnkey Business Opportunity Kailua Beachside

3,759 SF Specialty Building Offered at $4,475,000 at a 4.76% Cap Rate in Kailua, HI 96734

Investment Highlights

  • Current TVU Nonconforming Use Permit:File Number:90/TVU-0060
  • Resort- Like Landscaping offering Guests an Aloha experience the moment the etched Dolphin Gate swings open...
  • Local custom artwork incorporated into over $700,000 improvements.Additionally, home has been luxuriously furnished, Is turnkey!!! Multi-family use.

Executive Summary

Considered one of Hawaii’s great beach towns, Kailua's slender strand along its windward shore is home to two idyllic public beaches, Kailua Beach and Lanikai Beach. Kailua Beach has been voted the Best Beach in America in several different surveys, with special attention to it’s walking aspect. The 3 miles of beautiful fine, soft white sand along this crescent shaped bay borders the clear turquoise waters which have a consistent year round temperature of about 75 degrees F (25 C). The steady off shore trade winds, water temperature and protective reef make this bay a popular arena for all sorts of water sports. Looking to the north from the beach, you will see the Mokapu Peninsula (pic of the base) which houses the Kaneohe Marine Corps Base. Lanikai means "heavenly sea" in the Hawaiian language and when you see it you will know why it was given this name. It is a pristine beach and a favorite of many Kailuans and visitors alike. Its mile long beach of fine white sand and surfless, turquoise water is perfect for a beach day with the kids and for enjoying the view of the world famous Mokulua Islands, about a mile off shore. The beach cove on one of the small islands and the surf between the two are big draws to kyakers and surfers. Kailua is also surrounded by steep emerald slopes and carved quietly by rivers that flow into Kailua Bay. This great community just 12 miles from Honolulu is endowed with extraordinary beauty, a serene lifestyle, small-scale neighborhoods of single-family homes, a walkable downtown with great food and shopping, and vistas.

Data Room Click Here to Access

Financial Summary (Actual - 2019) 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 - 2019) 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 $4,475,000
Price Per SF $1,190
Sale Type Investment or Owner User
Cap Rate 4.76%
Property Type Specialty
Property Subtype
Residential Income
  • Multifamily Apartments
  • Multifamily Dormitory
Building Class B
Lot Size 0.28 AC
Building Size 3,759 SF
No. Stories 2
Year Built/Renovated 1952/2008
Parking Ratio 1.06/1,000 SF

Amenities

  • Air Conditioning

zoning

Zoning Code 03-R-10
03-R-10
  • Listing ID: 15628627

  • Date on Market: 4/4/2019

  • Last Updated:

  • Address: 22 Palione Pl, Kailua, HI 96734

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