NOT LISTED FOR SALE

1242 Makaloa St Honolulu, HI 96814

Kakaako Neighborhood

Estimated Value: $2,528,000 - $3,080,896

-- Bed
1 Bath
3,796 Sq Ft
$720/Sq Ft Est. Value

Last Sold April 11, 2018

Last sale price $2,230,000 $587 Per Sq Ft

Est. 23% increase in value since last sale

Current estimated payment $14,764/month

19 Days on Market

About This Home

As of April 2018

Solid hollow tile 2 story building in prime Ala Moana area close to the Ala Moana Shopping Center, Walmart/Sam Clubs, Kakaako and Kapiolani district. Nice mix of 2-2 bedroom, 5-1 bedroom and 1 studio units. Total 8 units. Freshly painted and new security front doors. Five covered parking carport in front of building. Laundromat with coin washers and dryers directly across street. Very stable long term tenants and strong possibility to increase below market rents to obtain even greater cash flow. Nice building and location rarely on the market for your client looking for a replacement property. Make offer subject to inspection, do not bother tenants. Priced to sell fast and will not last long!

Last Agent to Sell the Property

Vincent Lao

Five Star Realty, Inc. License #RB-18181 Listed on: 02/21/2018

Co-Listed By

Thompson Pham

Five Star Realty, Inc. License #RB-22840

Last Buyer's Agent

Esther Kusunoki

List Sotheby's Int'l Realty License #RB-21002

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,044

Year Built

  • Built in 1959

Lot Details

  • 5,000 Sq Ft Lot
  • Level Lot

Home Design

  • Tar and Gravel Roof

Interior Spaces

  • 3,796 Sq Ft Home
  • 2-Story Property

Parking

  • 5 Parking Spaces
  • Covered Parking
  • Assigned Parking

Listing and Financial Details

  • Tenant pays for cable TV, electricity
  • Assessor Parcel Number 1-2-3-015-022-0000

Community Details

Overview

  • 8 Units
  • Ala Moana Subdivision

Building Details

  • Operating Expense $21,048
  • Net Operating Income $78,552

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,044

Year Built

Built in 1959

Lot Details

0

Listing Details

  • Co List Office Mls Id: FIVE
  • Property Sub Type: Multi Family
  • Prop. Type: Residential
  • Year Built: 1959
  • CommunityFeatures: None
  • Road Frontage Type: Other
  • Co List Office Phone: (808) 382-6871
  • MLS Status: Closed
  • Subdivision Name: ALA MOANA
  • Unit Levels: Two
  • Roof: Tar/Gravel
  • Tax Year: 2017
  • Special Features: None

Interior Features

  • Stories: 2

Exterior Features

  • Construction Type: Hollow Tile, Concrete
  • Lot Features: Cleared, Other, Level
  • Property Condition: Average Condition, Good Condition
  • Topography: Level
  • View: None
  • View: No
  • Disclosures: Principal is Real Estate Licensed

Garage/Parking

  • Parking Features: Assigned, Covered
  • Total Parking Spaces: 5.0

Utilities

  • Utilities: Above Ground Utilities, Electricity Available, Water Available, Sewer Connected
  • Sewer: Connected

Lot Info

  • Parcel Number: 1-2-3-015-022-0000
  • Zoning Description: 12 - A-2 Medium Density Apartme

Multi Family

  • Number Of Units Total: 8
  • Net Operating Income: 78552.0
  • Annual Operating Expense: 21048.0
  • Tenant Pays: Cable TV, Electricity
  • Total Actual Rent: 8300.0

Tax Info

  • Tax Annual Amount: 4044.0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 21, 2018
Closed on
Apr 6, 2018
Sold by
Makaloa Partners Llc
Bought by
1242 Makaloa Llc
Seller's Agent
Vincent Lao
Five Star Realty, Inc.
Buyer's Agent
Esther Kusunoki
List Sotheby's Int'l Realty
List Price
$2,288,000
Sold Price
$2,230,000
Premium/Discount to List
-$58,000
-2.53%
Current Estimated Value
$2,734,299

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$504,299
Avg. Annual Appreciation
2.74%

Purchase Details

Listed on
Aug 26, 2016
Closed on
Dec 15, 2016
Sold by
Ventura Ceferino Butay
Bought by
Makaloa Partners Llc
Seller's Agent
Harris Zane
Urban Real Estate Co.
Buyer's Agent
Vincent Lao
Five Star Realty, Inc.
List Price
$1,395,000
Sold Price
$1,675,000
Premium/Discount to List
$280,000
20.07%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
24.63%
Original Mortgage
$1,256,000
Interest Rate
3.57%
Mortgage Type
Commercial

Purchase Details

Closed on
Oct 13, 2006
Sold by
All Island Properties Inc
Bought by
Ventura Ceferino Butay

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$800,000
Interest Rate
6.46%
Mortgage Type
Commercial

Purchase Details

Closed on
Dec 3, 2001
Sold by
Fujimoto George Setsuo and Borrero Gladys Fujie
Bought by
Fujimoto George Setsuo

Purchase Details

Closed on
Feb 8, 1996
Sold by
Woods Esther Yachiyo Kimura
Bought by
All Island Properties Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$487,000
Interest Rate
6.99%
Mortgage Type
Commercial
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
1242 Makaloa Llc $2,250,000 Tg
Makaloa Partners Llc $1,675,000 Tg
Makaloa Partners Llc $1,675,000 Tg
Ventura Ceferino Butay $1,300,000 First American Title
Fujimoto George Setsuo -- Security Title Corporation
Borrero Gladys Fujie -- Security Title Corporation
All Island Properties Inc $650,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Makaloa Partners Llc $1,256,000
Previous Owner Ventura Ceferino Butay $800,000
Previous Owner All Island Properties Inc $487,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
04/11/2018 04/11/18 Sold $2,230,000 -2.5% $587 / Sq Ft
03/12/2018 03/12/18 Pending -- -- --
02/21/2018 02/21/18 For Sale $2,288,000 +36.6% $603 / Sq Ft
12/21/2016 12/21/16 Sold $1,675,000 +20.1% $441 / Sq Ft View Prior Sale
11/21/2016 11/21/16 Pending -- -- --
08/26/2016 08/26/16 For Sale $1,395,000 -- $367 / Sq Ft
Source: HiCentral MLS (Honolulu Board of REALTORS®)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $5,091 $1,454,400 $1,211,300 $243,100
2024 $5,091 $1,454,600 $1,211,300 $243,300
2023 $5,089 $1,454,000 $1,211,300 $242,700
2022 $4,775 $1,364,400 $1,140,000 $224,400
2021 $4,990 $1,425,700 $1,187,500 $238,200
2020 $4,902 $1,400,700 $1,140,000 $260,700
2019 $4,149 $1,382,700 $1,116,300 $266,400
2018 $4,149 $1,185,500 $973,800 $211,700
2017 $4,042 $1,154,800 $926,300 $228,500
2016 $3,888 $1,110,800 $878,800 $232,000
2015 $3,779 $1,079,700 $800,300 $279,400
2014 -- $1,006,900 $727,500 $279,400
Source: Public Records

Agents Affiliated with this Home

  • Vincent Lao

    Seller's Agent in 2018

    Vincent Lao

    Five Star Realty, Inc.

    (808) 382-6871

    10 in this area

    215 Total Sales

    Vincent Lao
    Section Image
  • Thompson Pham

    Seller Co-Listing Agent in 2018

    Thompson Pham

    Five Star Realty, Inc.

    (808) 961-8201

    6 in this area

    111 Total Sales

    Thompson Pham
    Section Image

  • E

    Buyer's Agent in 2018

    Esther Kusunoki

    List Sotheby's Int'l Realty

  • H

    Seller's Agent in 2016

    Harris Zane

    Urban Real Estate Co.

    (808) 351-2731

    5 Total Sales

    Harris Zane
    Section Image

  • N

    Seller Co-Listing Agent in 2016

    Nolan Zane

    Urban Real Estate Co.

    (808) 351-3923

    3 Total Sales

    Nolan Zane
    Section Image
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Map

Source: HiCentral MLS (Honolulu Board of REALTORS®)

MLS Number: 201804579

HiCentral MLS (Honolulu Board of REALTORS®)

APN: 1-2-3-015-022-0000

Hawaii Honolulu County Honolulu 96814 Kakaako

1242 Makaloa St, Honolulu, HI

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