NOT LISTED FOR SALE

2908 Varsity Cir Unit 5 Honolulu, HI 96826

Manoa Neighborhood

Estimated Value: $2,501,000 - $2,562,000

1 Bed
-- Bath
4,068 Sq Ft
$622/Sq Ft Est. Value

Last Sold March 28, 2022

Last sale price $2,050,000 $504 Per Sq Ft

Est. 23% increase in value since last sale

Current estimated payment $13,789/month

117 Days on Market

Highlights

  • City View
  • Property is in very good condition
  • 4-minute walk to Kalo Place Mini Park
  • Home fronts a stream
  • Level Lot

About This Home

As of March 2022

Great location close to UH Manoa, Puck's Alley, and easy access west or east bound. This property has true pride of ownership and is very well maintained. Majority of the units have been refurbished and only a few units left to add your own personal touch. The one bedroom units are very spacious for one bedroom standards. The 8th unit was converted to a 2 bedroom unit so the 7th was decreased to a studio. The exterior has been recently painted and every unit could have a washer/dryer hook up or install your own coin operated laundry machines. The rent roll is lower than market because half of the building is occupied by family and friends. 6 out of the 8 leases are on a month to month term. There are 7 open parking stalls available. There used to be 8 but owner wanted to have slightly wider stalls. This is one of the cleanest and well kept buildings in the neighborhood and will be a perfect cash flow for a 1031 exchange. Please make an offer subject to inspection as we do not want to disrupt the tenants especially during the pandemic.

Last Agent to Sell the Property

Ivy Kumai

Ivy K Realty, LLC License #RB-09277 Listed on: 11/01/2021

Co-Listed By

Marc Kumai

Ivy K Realty, LLC License #RB-18403

Last Buyer's Agent

Brian Chua

Five Star Realty, Inc. License #RB-21314

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,953

Year Built

  • Built in 1955 | Remodeled in 1990

Lot Details

  • 5,001 Sq Ft Lot
  • Home fronts a stream
  • Level Lot
  • Cleared Lot
  • Property is in very good condition

Property Views

  • City
  • Mountain

Home Design

  • Brick Exterior Construction

Interior Spaces

  • 4,068 Sq Ft Home
  • 2-Story Property
  • Partially Furnished

Parking

  • 7 Parking Spaces
  • Open Parking
  • Assigned Parking

Utilities

  • Sewer Tap Fee
  • Internet Available
  • Phone Available
  • Cable TV Available

Community Details

  • 8 Units

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,953

Year Built

Built in 1955 | Remodeled in 1990

Lot Details

0

Listing Details

  • PropertyFrontage: Stream/Canal
  • Property Sub Type: Multi-Family
  • Prop. Type: Multi-Family
  • Fill Sq Ft Total: 4068
  • Stories Type: Two
  • Year Built: 1955
  • Year Renovated: 1990
  • Special Features: None
  • Stories: 2

Interior Features

  • Amenities: None
  • Furnished: Partial

Exterior Features

  • Construction Type: Brick, Single Wall
  • Easements: None
  • Flood Zone: Zone X
  • Lot Features: Clear
  • Property Condition: Above Average
  • Topography: Level
  • View: City, Mountain

Garage/Parking

  • Parking Features: Assigned, Open
  • Total Parking Spaces: 7

Utilities

  • Utilities: Cable, Internet, Overhead Electricity, Public Water, Sewer Fee, Telephone
  • Sewer: Connected

Multi Family

  • Number Of Units Total: 8

Tax Info

  • Tax Annual Amount: 6952.56

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Nov 1, 2021
Closed on
Mar 22, 2022
Sold by
Raymond Gunichi Onosaki Trust
Bought by
La Maison Zen Llc
Seller's Agent
Ivy Kumai
Ivy K Realty, LLC
Buyer's Agent
Brian Chua
Five Star Realty, Inc.
List Price
$2,050,000
Sold Price
$2,050,000
Current Estimated Value
$2,531,500

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$481,500
Avg. Annual Appreciation
6.05%
Original Mortgage
$1,550,000
Outstanding Balance
$1,444,396
Interest Rate
3.69%
Mortgage Type
New Conventional
Estimated Equity
$1,087,104

Purchase Details

Closed on
Apr 12, 2006
Sold by
Onosaki Raymond Gunichi
Bought by
Onosaki Raymond Gunichi and Raymond Gunichi Onosaki Trust

Purchase Details

Closed on
Nov 1, 2005
Sold by
Onosaki Jean Y
Bought by
Onosaki Raymond Gunichi
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
La Maison Zen Llc $2,050,000 Title Guaranty & Escrow Servic
La Maison Zen Llc $2,050,000 Title Guaranty & Escrow Servic
Onosaki Raymond Gunichi -- None Available
Onosaki Raymond Gunichi -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open La Maison Zen Llc $1,550,000
Closed La Maison Zen Llc $1,550,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/28/2022 03/28/22 Sold $2,050,000 0.0% $504 / Sq Ft
02/26/2022 02/26/22 Pending -- -- --
11/01/2021 11/01/21 For Sale $2,050,000 -- $504 / 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 $6,472 $1,847,600 $1,375,100 $472,500
2024 $6,472 $1,849,100 $1,375,100 $474,000
2023 $6,250 $1,785,600 $1,325,100 $460,500
2022 $5,858 $1,673,700 $1,235,100 $438,600
2021 $5,590 $1,597,100 $1,140,100 $457,000
2020 $5,890 $1,682,800 $1,187,600 $495,200
2019 $4,954 $1,569,500 $1,068,900 $500,600
2018 $4,954 $1,415,300 $926,300 $489,000
2017 $4,904 $1,401,200 $878,800 $522,400
2016 $4,846 $1,384,700 $855,100 $529,600
2015 $3,582 $1,023,300 $800,100 $223,200
2014 $3,347 $941,900 $725,200 $216,700
Source: Public Records

Agents Affiliated with this Home

  • Ivy Kumai

    Seller's Agent in 2022

    Ivy Kumai

    Ivy K Realty, LLC

    (808) 488-0771

    1 in this area

    158 Total Sales

    Ivy Kumai
    Section Image
  • Marc Kumai

    Seller Co-Listing Agent in 2022

    Marc Kumai

    Ivy K Realty, LLC

    (808) 548-8737

    3 in this area

    134 Total Sales

    Marc Kumai
    Section Image
  • Brian Chua

    Buyer's Agent in 2022

    Brian Chua

    Five Star Realty, Inc.

    (808) 382-6871

    1 in this area

    63 Total Sales

    Brian Chua
    Section Image
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Map

Source: HiCentral MLS (Honolulu Board of REALTORS®)

MLS Number: 202127221

HiCentral MLS (Honolulu Board of REALTORS®)

APN: 1-2-8-025-015-0000

Hawaii Honolulu County Honolulu 96826 Manoa

2908 Varsity Cir Unit 5, Honolulu, HI

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