COMMERCIAL INVESTMENT STRATEGIES€¦ · Expenses (actual, 2016) Electric $3,196.21 Water $7,169.81...
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COMMERCIAL INVESTMENT STRATEGIES The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty, or repre- sentation about it. Buyer to confirm and consult with their tax, financial, legal advisors, architect, engineers, environmental consultants, zoning consultants, and other professionals and conduct its independent due diligence studies. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. Pictures are conceptual and not to scale and proportion. Commercial Investment Strategies represents Owner only. Christina Low Dwight RB-20978 Principal Broker Mobile: 808.429.1098 Office: 808.596.2066 E-mail: ChristinaLow@mac.com www.CommercialInvestmentStrategies.com 126 Queen St. #309, Honolulu, HI 96813 AVAILABLE. 5,479 sf of A1 zoned land 7 units: 2 three bedroom units, 4 two bedroom units, 1 one bedroom unit. 5.87% cap ON ACTUALS. Two Buildings with hollow tile 1st floors: one 2-story, one 3-story. Walkable to downtown Honolulu, located a stone's throw from Kuakini Hospital. 100% occupied with close-to-market rents means you're cash-flow positive from the very start. Interiors renovated in 2005 (new laminate floors, paint, appliances, copper supply lines & copper drain lines in many areas & 4 new kitchens. Flood insurance is less than $3,000/year. Since lot is below grade, upgraded sump pumps w/ new electrical panel + 220V grinder system that is automatically controlled. 1641 Stillman Lane Honolulu, HI 96817 Fee Simple $1,850,000 MLS: 201811773 TMK: 1-1-7-019-026 1
Transcript of COMMERCIAL INVESTMENT STRATEGIES€¦ · Expenses (actual, 2016) Electric $3,196.21 Water $7,169.81...
COMMERCIAL INVESTMENT STRATEGIES
The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty, or repre-sentation about it. Buyer to confirm and consult with their tax, financial, legal advisors, architect, engineers, environmental consultants, zoning consultants, and other professionals and conduct its independent due diligence studies. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. Pictures are conceptual and not to scale and proportion. Commercial Investment Strategies represents Owner only.
Christina Low Dwight RB-20978 Principal BrokerMobile: 808.429.1098
Office: 808.596.2066
E-mail: [email protected]
www.CommercialInvestmentStrategies.com
126 Queen St. #309, Honolulu, HI 96813
AVAILABLE.5,479 sf of A1 zoned land7 units: 2 three bedroom units, 4 two bedroom units, 1 one bedroom unit.
5.87% cap ON ACTUALS. Two Buildings with hollow tile 1st floors: one 2-story, one 3-story. Walkable to downtown Honolulu, located a stone's throw from Kuakini Hospital. 100% occupied with close-to-market rents means you're cash-flow positive from the very start. Interiors renovated in 2005 (new laminate floors, paint, appliances, copper supply lines & copper drain lines in many areas & 4 new kitchens. Flood insurance is less than $3,000/year. Since lot is below grade, upgraded sump pumps w/ new electrical panel + 220V grinder system that is automatically controlled.
1641 Stillman Lane Honolulu, HI 96817 Fee Simple
$1,850,000
MLS: 201811773TMK: 1-1-7-019-026
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Listings Full with Photos 1-1-7-019-026-0000 1641 Stillman Ln, Honolulu 96817
MLS#: 201811773 Region: Metro Bldg Nm:Status: Incoming Nghbrhd:KUAKINILnd Tenure: FS - Fee Simple Fee Options:Listing Service: Full Service
LP: $1,850,000OLP:
General Information DOM: 0Prop Type: Multi-Family CDOM: 0Prop Frnt: Stream/Canal Furnished: PartialProp Cond: Average Year Built: 1956# Stories: Two, Three Rmld Year: 2006Bldg Type: Apartments, Multi DwellingsEasements: SewerIncome Information Unit InformationMonthly Rent: $12,040 Ttl Park: 5 # Studio: 0Other Inc: $130 Bldg Sqft: 4,060 # 1 Bd: 1Ttl Ann Inc: $146,940 Ttl Sqft: 4,060 # 2 Bd: 4Ann Oper Exp: $38,323 Land Sqft: 5,479 # 3+ Bd: 2Net Oper Inc: $108,617 Lot Acres: .126 # Comm:
# Ttl Units: 7Exp Includes: Excise Tax, Insurance, Other, Property Tax, Repair
Maintenance, Sewer FeeTenant Pays: AC, Cable TV, ElectricityProp Mng Co: self managed
Listing Date: 05/02/18 ACS Date: Tmp Wth Date: Exp Date: 05/02/19Listing Svc: Full Service
Possession: At Closing, Subject To Tenancy Lock Box: NoList Type: Exclusive AgencyAgent: Christina L Dwight(R) Agent Mbr #: 26009 Agent Ph: (808) 429-1098Ag Email: [email protected] #: RB-20978 Corp Office Lic #: RB-21019Office: Commercial Inv. Strategies Office Mbr #: CISC Office Ph: (808) 429-1098Comp Sub To: Method: if listor find buyer 3Off Fax Ph:Dual Var Rate: Yes GE Tax Paid-Seller:Yes Comp: 2.5
View: Other Lnd Recorded: Regular SystemZoning: 11 - A-1 Low Density Apartment Flood Zone: Zone AE Sewer: ConnectedLocation: Inside Topography: Down Slope, Steep SlopeLot Desc: Clear Set Backs: None
Pub Rmks: 5.87% cap ON ACTUALS. Two Buildings with hollow tile 1st floors: one 2-story, one 3-story. Walkable to downtown Honolulu, located a stone's throw from Kuakini Hospital. 100% occupied with close-to-market rents means you're cash-flow positive from the very start. Interiors renovated in 2005 (new laminate floors, paint, appliances, copper supply lines & copper drain lines in many areas & 4 new kitchens. Flood insurance is less than $3,000/year. Since lot is below grade, upgraded sump pumps w/ new electrical panel + 220V grinder system that is automatically controlled.
Agent Rmks: For showings, call/email my assistant, Stephanie, for marketing pack at 808-321-0339 / [email protected]. Use commercial PSA. Seller prefers First American Title, Jill Kauka. Prelim contains recorded encroachment agree. Hollow tile/wood bottom bldg has sep electric meters; wood top bldg has 1 meter.
Documents: Lease Documents, Other, P&L, Survey, Title SearchShow Inst: Appointment Only, Call Assistant, Listor Must Be PresentDisclosures: 1031 Exchange, Non Resident Owner
# Elevators: Meters: Electric, Gas, Individual, Other, WaterRoof: Composition Construction: Hollow Tile, Wood FrameLaundry Fac: Coin Guest Parking: NoneParking: AssignedRec Facilities: NoneAmenities: NoneUtilities: Cable, Gas, Internet, Public Water, Sewer Fee, Telephone, Water
TMK: 1-1-7-019-026-0000Taxes/Mnthly: $280 Tax Assess Imp:$186,400 Terms Acceptable: Cash, Conventional, ExchangeTax Year: 2018 Tax Assess Lnd: $789,200 Spcl Sales Cond: None
Tax Assess Tot: $975,600
Listing/Agent/Office Information
Additional Listing Information
Remarks
Features
Tax & Financial Information
©2014 HiCentral MLS, Ltd.®. All rights reserved. Information herein deemed reliable but not guaranteed. Generated on 05/01/2018 1:35:30 PM
©2018 HiCentral MLS, Ltd.®. All rights reserved. Information herein deemed reliable but not guaranteed.
Rent Roll, 1641 Stillman Lane
Unit Rent Deposit Term Began Term Ends
FRONT BUILDING
1 (three bedroom unit
$750.00 $750.00 9/1/16 8/31/17 *3 separate leasesfor this unit
1 (three bedroom unit
$750.00 $750.00 6/1/16 5/31/17
1 (three bedroom unit
$750.00 $750.00 3/11/17 3/31/18
2 (three bedroom unit)
$775.00 $775.00 8/28/16 8/31/17 *2 separate leasesfor this unit, 1 roomvacant
2 (three bedroom unit)
$775.00 $775.00 9/1/16 8/31/17
2 (three bedroom unit)
$775.00 $0.00 vacant vacant
3, two bedroom unit $1,675.00 $1,675.00 5/21/16 5/31/17
BACK BUILDING
A, two bedroom unit $1,600.00 $1,435.00 6/1/15 MTM *sep meter, paysown electric, pays$800 every 2 weeks
B, two bedroom unit $1,460.00 $1,435.00 9/1/16 8/31/17 *sep meter, paysown electric
C, two bedroom unit $1,550.00 waiting for lease waiting for lease waiting for lease *sep meter, paysown electric
D, one bedroom unit
$1,255.00 $1,075.00 5/1/14 MTM *sep meter, paysown electric
$12,115.00 $9,420.00
Prepared by:
Christina Low DwightBroker-Owner, RB-29078Seller Representative Specialist (SRS), Senior Real Estate Specialist (SRES)
Commercial Investment Strategies, LLCwww.CommercialInvestmentStrategies.com 126 Queen Street #309, Honolulu, HI 96813 [email protected] (808) 429-1098
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Income/Expenses
Laundry $1,560.00
Gross Rental Income $146,940.00 $12,245.00
Expenses (actual, 2016)
Electric $3,196.21Water $7,169.81Gas $919.25GET (based on gross) $6,612.30Insurance $5,390.00RPT (2016 rate) $3,410.75Repairs/Maintenance $11,624.59
Gross Expenses $38,322.91
Net Operating Income $108,617.09
Asking Price $1,850,000.00
Cap Rate Return 5.87%
Prepared by:
Christina Low DwightBroker-Owner, RB-29078Seller Representative Specialist (SRS), Senior Real Estate Specialist (SRES)
Commercial Investment Strategies, LLCwww.CommercialInvestmentStrategies.com 126 Queen Street #309, Honolulu, HI 96813 [email protected] (808) 429-1098
1641 Stillman Lane Income/Expenses
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Address # Units
# Pkg
Assessed Value Land
Assessed Value Bldg
Total Assessed
Sales Price
SF Land SF Bldg Gross Income
Operating Expenses
NOI CAP rate return
Zoning #Units
1618 Frog Lane 6 5 $806,300 $105,800 $912,100 $1,280,000 5339 2240 $18,000 $5,400 $12,600 0.98% A1 2 ones, 2 twos
1707 Kaluhikai 4 7 $970,300 $204,700 $1,175,000 $1,400,000 6250 2356 $54,960 $27,653 $17,792 1.27% A1 2 ones, 1 three
1746 Huna 5 9 $712,900 $296,600 $1,009,500 $1,690,000 4466 3240 $82,800 $17,847 $64,953 3.84% A1 4 ones, 1 two
AVERAGE 2.03%
Subject Property # Units
# Pkg
Assessed Value Land
Assessed Value Bldg
Total Assessed
Sales Price
SF Land SF Bldg Gross Income
Operating Expenses
NOI CAP rate return
Zoning #Units
1641 Stillman Lane
7 5 $789,200 $186,400 $9,755,600 $1,850,000 5479 4060 $146,940 $38,323 $108,617 5.87% A1 2 threes, 4 twos, 1 one
Prepared by:
Christina Low DwightBroker-Owner, RB-29078Seller Representative Specialist (SRS), Senior Real Estate Specialist (SRES)Commercial Investment Strategies, LLCwww.CommercialInvestmentStrategies.com 126 Queen Street #309, Honolulu, HI 96813 [email protected] (808) 429-1098
1641 Stillman Lane Comparable Sales Cap Return
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