NOT LISTED FOR SALE

1841 Palolo Ave Unit A Honolulu, HI 96816

Palolo Neighborhood

Estimated Value: $6,386,000 - $6,538,320

3 Beds
-- Bath
9,507 Sq Ft
$680/Sq Ft Est. Value

Last Sold January 26, 2018

Last sale price $5,220,000 $549 Per Sq Ft

Est. 24% increase in value since last sale

Current estimated payment $35,794/month

195 Days on Market

Highlights

  • Ocean View
  • Property is in excellent condition
  • Level Lot
  • 12,480 Sq Ft lot

About This Home

As of January 2018

Beautifully renovated turn-key building with brand new exterior, incl. roof, paint, and asphalt, and more! Hollow tile apartment opportunity in desirable area with few comparable buildings and an established, stable rental pool. Tenants pay H2O, gas & electric. Actual income returns 4%. Market rents are $1650 for ones, $1850 for twos, but not a lot of comps because the area is mostly single family houses. Pro forma analysis uses super conservative rents to produce $336,600/year.

Last Agent to Sell the Property

Christina Dwight

Commercial Inv. Strategies License #RB-20978 Listed on: 06/15/2017

Last Buyer's Agent

Hiroko Nakamura

Hawaii Resource Realty License #RB-16587

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $9,477

Year Built

  • Built in 1969

Lot Details

  • 0.29 Acre Lot
  • Level Lot
  • Flag Lot
  • Property is in excellent condition

Property Views

  • Ocean
  • City

Interior Spaces

  • 9,507 Sq Ft Home
  • 3-Story Property

Laundry

  • Laundry in unit
  • Washer

Parking

  • 18 Parking Spaces
  • Assigned Parking

Listing and Financial Details

  • Tenant pays for electricity, gas, water
  • Assessor Parcel Number 1-3-3-039-007-0000

Community Details

Overview

  • 18 Units
  • Palolo Subdivision

Building Details

  • Operating Expense $52,331
  • Net Operating Income $210,588

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$9,477

Year Built

Built in 1969

Lot Details

0

Listing Details

  • Property Sub Type: Multi Family
  • Prop. Type: Residential
  • Year Built: 1969
  • CommunityFeatures: None
  • Road Frontage Type: Other
  • LaundryFeatures: In Unit
  • NAV29_Unit_1_Appliances: Washer
  • MLS Status: Closed
  • Subdivision Name: PALOLO
  • Unit Levels: Three Or More
  • Roof: Other
  • Tax Year: 2016
  • Special Features: None

Interior Features

  • Furnished: Partially

Exterior Features

  • Construction Type: Hollow Tile, Concrete
  • Lot Features: Flag Lot, Interior Lot, Level
  • Property Condition: Excellent
  • Topography: Level
  • View: City, Mountain(s), Ocean
  • View: Yes
  • Disclosures: 1031 Exchange, Principal is Real Estate Licensed

Garage/Parking

  • Parking Features: Assigned
  • Total Parking Spaces: 18.0

Utilities

  • Utilities: Above Ground Utilities, Cable Available, Electricity Available, Natural Gas Available, High Speed Internet Available, Phone Available, Sewer Available, Water Available, Sewer Connected
  • Sewer: Connected
  • Water Source: Public

Lot Info

  • Parcel Number: 1-3-3-039-007-0000
  • Zoning Description: 05 - R-5 Residential District

Multi Family

  • Number Of Units Total: 18
  • Net Operating Income: 210588.29
  • Annual Operating Expense: 52331.17
  • Tenant Pays: Electricity, Gas, Water
  • Total Actual Rent: 21910.0

Tax Info

  • Tax Annual Amount: 9477.0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 15, 2017
Closed on
Jan 22, 2018
Sold by
Palolo Apartments Llc
Bought by
Hawaii Aokai Llc
Seller's Agent
Christina Dwight
Commercial Inv. Strategies
Buyer's Agent
Hiroko Nakamura
Hawaii Resource Realty
List Price
$5,950,000
Sold Price
$5,220,000
Premium/Discount to List
-$730,000
-12.27%
Total Days on Market
195
Current Estimated Value
$6,462,160

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$1,242,160
Avg. Annual Appreciation
2.97%
Original Mortgage
$2,250,000
Outstanding Balance
$1,924,552
Interest Rate
3.93%
Mortgage Type
Commercial
Estimated Equity
$4,550,109

Purchase Details

Closed on
May 12, 2015
Sold by
Rsa Properties Llc
Bought by
Palolo Apartments Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,160,000
Interest Rate
3.67%
Mortgage Type
Commercial

Purchase Details

Closed on
Dec 20, 2007
Sold by
Wall Jeffrey Alan and Wall Lisa Momi
Bought by
Jaw Investments Llc and C & T Investments Llc

Purchase Details

Closed on
Aug 9, 2007
Sold by
Hayashi Wayne N
Bought by
Rsa Properties Llc and Jaw Investments Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,000,000
Interest Rate
6.62%
Mortgage Type
Commercial
Source: Public Records

Range of Values:

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Average Value
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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
Hawaii Aokai Llc $5,220,000 Fam
Hawaii Aokai Llc -- Fam
Palolo Apartments Llc $3,500,000 Fam
Palolo Apartments Llc $3,500,000 Fam
Jaw Investments Llc $666 None Available
Wall Jeffrey Alan $666 None Available
Wall Jeffrey Alan $666 None Available
Akamine Russell S $666 None Available
Rsa Properties Llc $2,800,000 Tg
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Hawaii Aokai Llc $2,250,000
Closed Hawaii Aokai Llc $2,250,000
Previous Owner Palolo Apartments Llc $2,160,000
Previous Owner Rsa Properties Llc $2,000,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
01/26/2018 01/26/18 Sold $5,220,000 -12.3% $549 / Sq Ft
12/27/2017 12/27/17 Pending -- -- --
06/15/2017 06/15/17 For Sale $5,950,000 -- $626 / 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
2024 $17,987 $5,139,100 $3,492,800 $1,646,300
2023 $17,903 $5,115,100 $3,492,800 $1,622,300
2022 $17,170 $4,905,700 $3,380,100 $1,525,600
2021 $16,250 $4,642,800 $3,042,100 $1,600,700
2020 $16,589 $4,739,600 $3,083,600 $1,656,000
2019 $16,780 $4,794,300 $3,120,000 $1,674,300
2018 $12,311 $3,517,400 $2,496,000 $1,021,400
2017 $10,332 $2,951,900 $1,996,800 $955,100
2016 $9,477 $2,707,700 $1,747,200 $960,500
2015 $9,135 $2,609,900 $1,672,300 $937,600
2014 -- $2,532,600 $1,622,400 $910,200
Source: Public Records

Agents Affiliated with this Home

  • C

    Seller's Agent in 2018

    Christina Dwight

    Commercial Inv. Strategies

    (808) 429-1098

    2 in this area

    61 Total Sales

    Christina Dwight
    Section Image

  • H

    Buyer's Agent in 2018

    Hiroko Nakamura

    Hawaii Resource Realty

    (808) 284-4820

    32 Total Sales

    Hiroko Nakamura
    Section Image
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Map

Source: HiCentral MLS (Honolulu Board of REALTORS®)

MLS Number: 201713302

HiCentral MLS (Honolulu Board of REALTORS®)

APN: 1-3-3-039-007-0000

Hawaii Honolulu County Honolulu 96816 Palolo

1841 Palolo Ave Unit A, Honolulu, HI

This home is located at 1841 Palolo Ave Unit A, Honolulu, HI 96816 since 15 June 2017 and is currently estimated at $6,462,160, approximately $679 per square foot. This property was built in 1969. 1841 Palolo Ave Unit A is a home located in Honolulu County with nearby schools including Palolo Elementary School, William P Jarrett Middle School, and Kaimuki High School.

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