2032 Kapiolani Boulevard, Honolulu, HI 96826

Property Description

This eight-unit, two-story walk-up apartment building is ideally located near Kapiolani Blvd and McCully St, offering convenient access to Waikiki, the Kapiolani corridor, public transportation, shopping, and more. Four of the units have been remodeled within the past year, while two have received partial upgrades. The other two units need completed renovations. Significant improvements include copper plumbing conversions, ABS drain line upgrades on the second floor, and a silicone-coated roof completed last year. Additionally, each unit is individually metered for electricity, keeping utility costs low. The building is fully occupied, with all leases on a month-to-month basis. Previously, due to maintenance and probate issues, full occupancy was not maintained, but all concerns have been addressed. Since rental income was lower in previous years and full occupancy has only been achieved recently, I have prepared a pro forma analysis outlining projected income, expenses, and net income. This property is a steady income earner with low maintenance and operational costs, is easy to rent, and does not require an on-site manager.