Oahu North Shore Apartment House

By
Real Estate Broker/Owner with Island Style Realty Inc. RB-19250

Waialua, Hawaii Apartment House For Sale

$1,195,000  Investors Dream

Akule St. Front of Building

This is an extremely desirable property.  It is in great shape and has a good cash flow.  This property is so close to the beach you can almost throw a baseball and hit the water. The seller has had it for many years and has fully depreciated it out.

Akule St. Back Deck Facing the Ocean

The property is being managed by the owner including the landscaping. That is the reason his expenses appear so low.

Akule St. Front of Building

Features of the Property:

  • Above Average Condition
  • Unique North Shore Apartment House
  • 1-Block to the Beach
  • Great Cash Flow
  • Vaulted Ceilings in the Four 2 Bedroom Units
  • Freshly Painted Exterior
  • Upgraded Septic System

Akule St - Looking along the back roofline

Specs of the Property

Honolulu Board of Realtors - MLS No. 2704065

65-085 Akule St.  -  Waialua, HI  96791

  • 4 x 2Bed / 1 Bath,  3 x studio/1bath efficiencies
  • Land Area 7587 sq/ft.
  • Living Area 2560 sq/ft in tax records, actual is larger
  • Annual Rental Income: $82,160
  • Annual Expenses: $4240 (Water, electric, insurance & excise tax)
  • 2006 Annual Property Tax: $2341
  • 5 - Parking Stalls plus street parking
  • Built 1967, Partially Remodeled in 2005
  • Exterior painted in 2007
  • Does Not Match Tax Records, Sold "As Is"
  • Make all Offers Subject to Inspection
  • (Please Do Not Disturb Tenants)

A flyer for the property can be downloaded from my webpage:  www.HawaiiRandy.com

I will be glad to e-mail additional information.  I have more photos.  I am limited on interior shots.  I should have more of them over the next couple of days as I can make the appointments with the tenants.  I will be posting a virtual tour at that time.  This property is expected to move fast.

Posted by

 

--------------------------------------------------------------------------------------------------------

Randy L. Prothero, REALTOR®

Principal Broker, ABR, AHWD, CRS, e-PRO, GRI, MRP, SFR

Island Style Realty Inc.

Team Leader - "The Prothero Group"

Randy Prothero is well established as an expert in working with military / VA clients and first time home buyers.  His home seller's (listing) campaign is one of the most aggressive marketing programs in the area.

Based out of Mililani, Hawaii. Randy services the island of Oahu (Honolulu County) Performs mediations and ombudsman services for the Board of Realtors.  To improve overall professionalism in his area Randy also offers classes for real estate agents. 

www.HawaiiRandy.comOahu (Honolulu County) Property Search  Hawaii Military Relocations

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Location:
Hawaii Honolulu County Waialua Cement City
Tags:
real estate for sale
apartment house
waialua
hawaii
honolulu
oahu
century 21
real estate
real estate marketing

Spam prevention
Show All Comments
Rainmaker
623,209
Randy Prothero
Island Style Realty Inc. - Mililani, HI
Hawaii REALTOR, (808) 384-5645

ere are a couple of pictures from the beach one block from property.

Waialua Beach

Waialua Beach

Mar 02, 2007 02:43 PM #1
Rainer
202,326
James Gordon
Sibcy Cline Realtors® - Cincinnati, OH
REALTOR, PBD SFR SRS
Looks like a wonderful investment maybe I should purchase it and use the property as an excuse to fly to Hawaii twicw a year!  
Mar 02, 2007 02:55 PM #2
Rainmaker
623,209
Randy Prothero
Island Style Realty Inc. - Mililani, HI
Hawaii REALTOR, (808) 384-5645
James - You would surprised how many investors have one property here for that reason.  They come, fall in love and want a reason to keep coming back.
Mar 02, 2007 03:37 PM #3
Rainmaker
210,923
Lucky Lang
Mel Foster Co. - Davenport, IA
SRES, Davenport, Iowa Real Estate

Randy,

Stop it!  You're killing me with those beach pictures!  I know you've been reading about our Iowa winters and you're just hitting below the belt there buddy!

Seriously....would your investor consider an exchange for some rentals in Iowa?  I've depreciated a few out here myself and those pictures look awful tempting.  Besides, I could write off trips to Hawaii to work on my property!

Lucky :)

Mar 03, 2007 05:46 PM #4
Rainmaker
623,209
Randy Prothero
Island Style Realty Inc. - Mililani, HI
Hawaii REALTOR, (808) 384-5645
Lucky - Send me the numbers on yours.  He is avoiding most mainland states where the real estate taxes are so much higher than ours.
Mar 03, 2007 06:08 PM #5
Rainmaker
210,923
Lucky Lang
Mel Foster Co. - Davenport, IA
SRES, Davenport, Iowa Real Estate

Randy,

What does "Does Not Match Tax Records, Sold "As Is"" mean?

I'll have to dig through some papers tomorrow for stats on my stuff.  None of it is currently for sale...but for a piece of paradise......they might be!

Mar 03, 2007 06:46 PM #6
Rainmaker
623,209
Randy Prothero
Island Style Realty Inc. - Mililani, HI
Hawaii REALTOR, (808) 384-5645
Lucky - It means that there were additions to the building done many years ago that do not appear on the tax records.  Most likely not permitted.  A very common situation on that part of the island.  The buyers take it knowing that.  They can either apply for permits after the fact or request my client remove it.
Mar 03, 2007 07:15 PM #7
Show All Comments
Rainmaker
623,209

Randy Prothero

Hawaii REALTOR, (808) 384-5645
Ask me for a free valuation of your Oahu Home.
*
*
*
Spam prevention