2021 Wilcox Lane
6.0+% CAP in Honolulu with LOTS OF REHAB ALREADY COMPLETED
Marketing description
THERE IS NO BETTER CASH FLOWING CONCRETE MF BUILDING ON ISLAND FOR SALE:
9 (large approx. 640sf) 2-bedroom units with 5 parking stalls. Most units are fully renovated. Opportunity exists to raise rents on remaining under-market units and charge back for UTILITIES. NEW $70,000 ROOF/ROOF HATCH (installed 11-2022 by Kapili Construction). Spall Repairs completed and NEW water main shutoff valve installed in 2022. Residential Property Tax Rate. Self-Managed. All units have lanai with washer hookups and sinks. Ground Floor units have fenced-in backyards. Recently installed Hawaiian Tel FIBER OPTIC lines in each unit. Owner receives 10% share of income from subscribers.
Investment highlights
• THERE IS NO BETTER CASH FLOWING CONCRETE MF BUILDING FOR SALE ON ISLAND
• $16,311/mo. Gross Scheduled Rent
• 6.0% CAP
• Most Units Fully Renovated
• New 4-Camera Security System installed by Cam Security
• Gated/Secured Multifamily Property with spall repairs completed
• New $70,000 Roof/Roof Hatch
• All units have washer hookups on lanai with sink.
• Ground floor units have fenced in backyard lanais.
• Self Managed
• NOT IN A FLOOD ZONE! No Flood Insurance Required
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