Description
Great multifamily rental property with upside potential. Six 1 bedroom unit, fee simple single story apartment building on 1/4 acre lot, connected to sewer. Lava zone 8, just North of Hilo.All 6 units are furnished, one is currently vacant for viewing. Each unit has it's own electric meter and hot water heater. 7 parking spaces with additional street parking available. Roof is approx 20 years old. Just a few minutes walk to downtown Hilo with restaurants, shopping, schools and more.Current rents: 3 units @ $1,800, 1 unit @ $1,600, 1 unit @ $1,400. All leases are Month-To=Month; all tenants & leases will remain in place through closing.Gross income: 2024 $91.5k, 2023 $82k, 2022 $84k.Property tax $4,779/year; insurance approx $3k/year; water approx $1,200k/year; sewer approx $1,800/year; common area electric approx $150/month.Shower stalls, carpets and drapes all replaced/repaired in 2023. DSL internet and cable TV connected, owner currently pays these expenses in addition to electricity. Coin op washer & dryer on site.Don't miss out on this investment opportunity!
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6BEDS
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0.26ACRES
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6BATHS
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01/2 BATHS
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2,388SQFT
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$503$/SQFT
School Ratings & Info
Description
Great multifamily rental property with upside potential. Six 1 bedroom unit, fee simple single story apartment building on 1/4 acre lot, connected to sewer. Lava zone 8, just North of Hilo.All 6 units are furnished, one is currently vacant for viewing. Each unit has it's own electric meter and hot water heater. 7 parking spaces with additional street parking available. Roof is approx 20 years old. Just a few minutes walk to downtown Hilo with restaurants, shopping, schools and more.Current rents: 3 units @ $1,800, 1 unit @ $1,600, 1 unit @ $1,400. All leases are Month-To=Month; all tenants & leases will remain in place through closing.Gross income: 2024 $91.5k, 2023 $82k, 2022 $84k.Property tax $4,779/year; insurance approx $3k/year; water approx $1,200k/year; sewer approx $1,800/year; common area electric approx $150/month.Shower stalls, carpets and drapes all replaced/repaired in 2023. DSL internet and cable TV connected, owner currently pays these expenses in addition to electricity. Coin op washer & dryer on site.Don't miss out on this investment opportunity!
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