Listing
Overview
Price: $4,000,000
Area: WAIKIKI
Status: Active
Unique opportunity to acquire fee simple ownership of a strategically located parcel of land in Waikiki which is improved with a 12-unit apartment building and 6 parking stalls. This prime property is currently near the end of the ground lease term which is set to expire on January 1, 2025, presenting an investor the rare chance to own a fee simple apartment building in Waikiki.
This distinguished property features a well-maintained, fully leased 12-unit apartment building, generating steady rental income. The approaching expiration of the ground lease provides a timely opportunity for investors to unlock further value through redevelopment or enhancement of the existing improvements.
Ideal for investors looking to capitalize on the ground lease expiration, this property offers significant value-add opportunities. By renovating the apartment building and adjusting rents to market rates, investors can maximize returns and
enhance the property’s overall value. Listing by: Standard Management LLC (808) 208-8107
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This distinguished property features a well-maintained, fully leased 12-unit apartment building, generating steady rental income. The approaching expiration of the ground lease provides a timely opportunity for investors to unlock further value through redevelopment or enhancement of the existing improvements.
Ideal for investors looking to capitalize on the ground lease expiration, this property offers significant value-add opportunities. By renovating the apartment building and adjusting rents to market rates, investors can maximize returns and
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- Land Area (sf): 4,500
- Living (sf): 6,067
- Year Built: 1966
- Property Condition: Average
- Number of Parking Spaces: 6
- View: None
- Listing Office: Standard Management LLC
- Land Tenure: FS - Fee Simple
- Elementary School: Ala Wai
- Middle School: Washington
- High School: Mckinley
