1218 King St Honolulu, HI 96817
- Apartment buildings
- 10,785 SF
Current Use by Public Records
- Apartment buildings
Property Details for 1218 King St
- Year built
- 1970
- Property size
- 10,785 SF
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a 20-unit apartment building in Honolulu, Hawaii, boasting a strong 90% occupancy rate and a current NOI of $225,637, yielding a 4.91% cap rate. The property, located at 1218 N King Street, 96817, comprises two three-story buildings totaling 10,785 square feet on a 9,507 square foot lot. Built in 1970 and extensively renovated in 2022, the property features a mix of unit sizes: nine one-bedroom, four two-bedroom, and one three-bedroom units. In addition, there is one warehouse space and four retail spaces. The property includes 17 parking spaces, with additional customer parking available on King Street. The BMX-3 zoning allows for mixed-use development. The asking price is $4,600,000, representing a price per unit of $270,588 and a price per square foot of $426.52. The building's prime location across from the King Street Post Office and a block from Farrington High School provides easy access to downtown Honolulu and major freeways. Recent improvements include addressing spalling and repainting, showcasing the owner's commitment to maintaining the property's high standards. This property offers significant potential for increased revenue through market rent adjustments.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Honolulu
- County
- Honolulu
- State
- Hawaii
- Longitude
- -157.87
- Latitude
- 21.327
