2014 Fern St Honolulu, HI 96826
- Commercial real estate
- 4,208 SF
Current Use by Public Records
- Commercial real estate
Property Details for 2014 Fern St
- Year built
- 1953
- Property size
- 4,208 SF
- Property type
- Commercial real estate
- APN
- 1-2-7-002-009-0000
Description
This exceptional multifamily investment opportunity in Honolulu, Hawaii, presents a compelling return on investment. Priced at $2,988,000, this property boasts a strong 5.36% cap rate and a substantial net operating income (NOI) of $168,964. The property comprises two buildings totaling 4,208 square feet on a 6,400 square foot lot, zoned A-2 Medium Density Apartment. Built in 1953, the property features nine units: eight one-bedroom units and one three-bedroom unit, all currently 100% occupied. Six assigned parking stalls are available for residents. The property includes a coin-operated laundry facility, adding to its income potential. Individual gas and electric meters are installed in each unit, with a single water meter for the entire property. A recent survey (August 24, 2023, by Ailana Surveyors) is available for the buyer's review. This turnkey investment is ideally located in Makiki, offering convenient access to the University of Hawaii at Manoa, Waikiki, and Ala Moana, ensuring a consistent and reliable tenant pool. The interiors have been completely renovated, presenting a beautifully upgraded and bright living space for tenants. This property is offered as a 1031 exchange opportunity.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Honolulu
- County
- Honolulu
- State
- Hawaii
- Longitude
- -157.8311889
- Latitude
- 21.2910823
