205 Kuakini St Honolulu, HI 96817

This exceptional investment opportunity presents a well-maintained, two-story apartment building located at 205 N Kuakini St, Honolulu, HI 96817. The property boasts five one-bedroom units, each with its own electric meter, and a total of eight parking spaces (four tandem). Built in 1965, this 2,565 square foot building sits on a 5,072 square foot lot, zoned A-1. Currently operating at 100% occupancy, the property generates a Net Operating Income (NOI) of $53,268, resulting in a 3.65% cap rate. The asking price is $1,277,500, representing a price per unit of $255,500. Recent appraisal (October 2023) valued the property at $1,460,000. The building features a hollow tile construction and benefits from excellent curb appeal and convenient access from North Kuakini Street. All units are equipped with 110v outlets for individual laundry, presenting an opportunity to increase income by installing coin-operated laundry facilities and adjusting rents to market rates. The property is conveniently located one block from Kuakini Hospital, in a highly desirable neighborhood. A single master meter handles common area electricity. This property is ideal for a 1031 exchange.