735 Birch Street, Honolulu, HI 96814

$1,950,000
Sold Price
$1,950,000
List Price
$2,099,000
Status
SOLD
Type
Multifamily
MLS#
202311374
Days on Market
93
Closing Date
Oct 13, 2023
Land Area
6,008
Year Built
1990
Year Remodeled
2004
Neighborhood
Ala Moana
Land Tenure
FS - Fee Simple

Property Description

Great Opportunity to build a 30 unit rental building in a prime location near Ala Moana Center in the heart of urban Honolulu. WalkScore gives the property a 98/100 as there are so many stores, restaurants, and jobs nearby. The property has been approved by the sewer department for 30 units. Architectural renderings are for illustrative purposes only. Bill 7 encourages new multifamily development by offering huge fee waivers for water, sewer, permits, and 10 years of property tax abatement for a new building! The existing 3 unit apartment building features a 3 bedroom 2 bath on the ground floor and on the second floor there is 2 bedroom, 2 bath and a 1 bedroom, 1 bath. Each unit is separately metered for electric and water and has its own washer and dryer. There is a total of 7 parking stalls. Depending on the layout of the new building, it is possible to increase the number of parking stalls.

Additional Information

Island
Oahu
Stories Type
Two
Utilities
Cable, Internet, Overhead Electricity, Public Water, Sewer Fee, Telephone, Water
View
None
Easements
None
Parking Total
7
Tenants Responsibilities Include
AC, Cable TV, Electricity, Parking, Water
Sqft Building
2992
Lot Size
6,008
Unit One Bed Number Of
1
Construction Materials
Above Ground, Double Wall, Hollow Tile, Wood Frame
Mls Area Major
Metro
Neighborhood
Ala Moana
Year Built
1990
Year Remodeled
2004
Tax Amount
$548
Total Income
75840
Sewer
Connected
Unit Two Bed Number Of
1
Roof
Composition
Recreation Facilities
None
Parking Features
Assigned
Lot Features
Clear
Amenities
A/C
Total Annual Operating Expenses
15900
Unit Three Bed Number Of
1
Assessed Total
1879900
Assessed Improvement
347900
Assessed Land
1532000
Zoning
12 - A-2 Medium Density Apartme

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Sunwide Properties. Selling Office: Locations LLC.

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