745 Makaleka Avenue, Honolulu, HI 96816

$2,900,000
Sold Price
$2,900,000
List Price
$2,800,000
Status
SOLD
Type
Multifamily
MLS#
202209008
Days on Market
7
Closing Date
Jul 12, 2022
Land Area
6,068
Year Built
1962
Neighborhood
Kapahulu
Land Tenure
FS - Fee Simple

Property Description

First time on the market. Well-maintained 8 unit all-concrete building with excellent unit mix – (6) 2-bedroom and (2) 1-bedroom units. 9 total parking stalls available. 7 on-site parking stalls (one stall is tandem) + 2 stalls leased directly across Makaleka Street for $60/mo each. There is also the ability to rent additional stalls across the street if desired, and plenty of street parking. All units have lanais and most have washing machines. This building has copper gutters, separate electrical meters, and a rare yard in the back. Over $200,000 in capital improvements over the past 5 years. Sizeable land area provides development options under Bill 7. Very close to stores and restaurants on Kapahulu Ave. 3 units are vacant and easy to show. Proforma NOI should be closer to $125,600.

Additional Information

Island
Oahu
Stories Type
Two
Utilities
Cable, Overhead Electricity, Public Water
View
None
Easements
Other, Sewer
Parking Total
7
Tenants Responsibilities Include
Cable TV, Electricity
Sqft Building
4514
Elementary School
Liholiho
Middle School
Kaimuki
High School
Kaimuki
Lot Size
6,068
Unit One Bed Number Of
2
Construction Materials
Concrete
Mls Area Major
Metro
Neighborhood
Kapahulu
Frontage
Other
Year Built
1962
Tax Amount
$497
Total Income
89400
Sewer
Connected
Unit Two Bed Number Of
6
Roof
Pitch & Gravel
Recreation Facilities
None
Parking Features
Assigned, Open, Tandem
Lot Features
Other
Amenities
None
Total Annual Operating Expenses
38862
Assessed Total
1810400
Assessed Improvement
302100
Assessed Land
1508300

Mortgage Calculator

Amount of Loan
Annual Interest Rate
%
Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Standard Management LLC. Selling Office: Coldwell Banker Realty.

Based on information from the Multiple Listing Service of Hicentral MLS, Ltd. Listings last updated on . Information is deemed reliable but not guaranteed. Copyright: 2022 by HiCentral MLS, Ltd. IDX information is provided exclusively for consumers' personal, non-commercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.