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COMMERCIAL INVESTMENT STRATEGIES

The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty, or repre-sentation about it. Buyer to confirm and consult with their tax, financial, legal advisors, architect, engineers, environmental consultants, zoning consultants, and other professionals and conduct its independent due diligence studies. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. Pictures are conceptual and not to scale and proportion. Commercial Investment Strategies represents Owner only.

SUPER CLEAN, NICELY RENOVATED HOLLOW TILE

WALK UP 1841 A Palolo Avenue Honolulu, HI 96816$5,395,000 Fee Simple TMK: 1-3-3-039-007 MLS# 201622199

Christina Low Dwight RB-20978 Principal BrokerMobile: 808.429.1098Office: 808.596.2066E-mail: [email protected]

www.CommercialInvestmentStrategies.com

126 Queen St. #309, Honolulu, HI 96813

• 18 units

9 one-bedrooms

9 two-bedrooms

• 18 parking spaces

• 12,480 SF lot

• Avg SF per unit is 528+

• Built in 1969, Renovated in 2015.

• Turn Key Building with BRAND NEW:

Spalling Repair

Paint

Asphalt Parking Lot

Roof

Many Renovated Units

• Individually metered Gas and Electric, paid by tenants

COMMERCIAL INVESTMENT STRATEGIES

Christina Low Dwight RB-20978 Principal BrokerMobile: 808.429.1098Office: 808.596.2066E-mail: [email protected]

www.CommercialInvestmentStrategies.com

126 Queen St. #309, Honolulu, HI 96813

1841A Palolo Ave Rent RollUNIT # TYPE RENT DEPOSIT TERM TERM

BEGANPARKING

NOTES

101 two-bedroom $1,350.00 9/30/17 4/24/17 *renovated

102 two-bedroom $1,445.00 $1405.00 10/31/17 5/1/17 *renovated

103 two-bedroom $1,250.00 $1250.00 MTM 7/6/10 S8 PAYS $27

104 one- bedroom $1,245.00 $1200.00 7/31/18 8/17/17 S8

105 one- bedroom $900.00 $900.00 MTM 4/6/11

106 one- bedroom $1,245.00 $1345.00 12/31/17 7/3/17 *renovated

201 two-bedroom $1,200.00 $200.00 MTM 2/1/14 S8

202 two-bedroom $1,225.00 $1225.00 MTM 9/26/12 4 S8 pays $559

203 two-bedroom $1,200.00 $1300.00 6/30/18 7/5/17 2 *renovated

204 one- bedroom $950.00 $950.00 MTM 9/1/14 S8

205 one- bedroom $925.00 $925.00 MTM 1/4/16 9 S8

206 one-bedroom $1,250.00 $954.50 10/31/17 5/15/17 *renovated

301 two-bedroom $1,100.00 $1100.00 MTM 2/1/04 S8 pays $909



304 one- bedroom $1,300.00 $1300.00 *renovated

305 one- bedroom $1,245.00 $900.00 1/31/18 8/19/17 3

306 one- bedroom $1,150.00 $1295.00 10/31/17 5/5/17 *renovated

$22,020.00

ACTUAL GROSS

$264,240.00

Prepared By:Christina Low Dwight Broker-Owner, RB-20978 Seller Representative Specialist (SRS), Senior Real Estate Specialist (SRES) Commercial Investment Strategies, LLC www.CommercialInvestmentStrategies.com 126 Queen Street #309, Honolulu, HI 96813 [email protected] (808) 429-1098

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Income/ Expenses 1841 A Palolo AvenueIncomeRental Income $264,240.00Convenience Fee $129.39Total $264,369.39

Expenses 1/1/17-9/25/17 2017Cleaning/ Maintenance

$4,732.79 $6,310.39

Insurance $9,776.00 $9,776.00Landscaping $1,047.12 $1,396.16Management $15,033.83 $20,045.11 6%Pest Control $125.66 $125.66Taxes (Real Property)

$9,904.30

Taxes (GET) $11,896.62

Total $59,454.24

Net Operating Income

$204,915.15

Price $5,395,000.00

Cap Rate 3.80%


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TWO BEDROOMS

Address Type Parking Rent SF Laundry Utils Incl

https://honolulu.craigslist.org/oah/apa/5735585019.html

2/1 1 $2,000.00 900 coin water & elect


2/1 1 $1,400.00 644 coin water


2/1 $1,800.00 650 shared

AVG $1,733.33

ONE BEDROOMS

Address Type Parking Rent SF Laundry Utils Incl


1/1 1 $1,450.00 500 shared NA


1/1 NA $1,200.00 NA Coin NA


1/1 1 $1,500.00 482 in unit water

$1,383.33

Gross Rental Income $336,600

Expenses

Cleaning/ Maintenance $4,732.79 $6,310

Insurance $9,776.00 $9,776

Landscaping $1,047.12 $1,396

Management $15,033.83 $20,196

Pest Control $125.66 $126

Taxes (Real Property) $9,904

Taxes (GET) $15,147

Total $62,856

Net Operating Income $273,744

Market Cap Rate 5% $6,083,211


Market Rents 1841 Palolo Avenue

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PALOLO AREA SALES COMPS

ACTIVE # Units Unit Type Construction Parking Days on Market Asking Price Date Sold $ Per Unit Sales Price Notes

1445 Palolo Avenue 3 2 twos, 1 three Wood 6 Listed7/19/16 $1,188,000.00 NA $396,000 NA

1332 10th Ave 4 4 twos Wood 7 LIsted 11/15/16 $1,399,988.00 NA $349,997 NA

3148 Hayden 5 2 studios, 3 twos Wood 5 Listed11/14/16 $1,850,000.00 NA $370,000 NA

3145 Harding 4 4 threes Hollow Tile, Wood 7 Listed 8/22/16 $1,918,000.00 NA $479,500

AVERAGE $359,999

IN ESCROW # Units Unit Type Construction Parking Days on Market Asking Price Date Sold $ Per Unit Sales Price Notes

NOTHING

SOLD # Units Unit Type Construction Parking Days on Market Asking Price Date Sold $ Per Unit Sales Price Notes

3318 Sierra 3 1 two, 1 three, 1 comm Wood 4 104 $1,000,000.00 8/10/16 $333,333 $980,000

1532 & 1508 Pukele 12 6 twos, 3 threes Wood 10 11/20 $3,480,000.00 6/2/16 $290,000 $3,261,000

4024 Hoku 5 1 one, 2 twos, 1 three Wood 8 153 $2,850,000.00 5/4/16 $570,000 $2,400,000

AVERAGE $397,778

Subject Property # Units Unit Type Construction Parking Days on Market Price Per Unit Asking Price

Address # Units Unit Type Construction Parking Value Comparable Value Range

1841B Palolo Ave 18 9 ones, 9 twos Hollow Tile 18 Avg $/ Unit ACTIVE $359,998.50 $6,479,973.00

Avg $/Unit SOLD $397,777.78 $7,160,000.00

Actual Asking Price $299,722.22 $5,395,000.00


PALOLO AREA Sales Comps 1841 Palolo Avenue

Tabular Stats Report(8) Beds Baths Total Sqft List Price Prc/Sqft Sold Price SP/LP SP/OLP

CDOMMin - - 1,180 $1,000,000 $331.15 $980,000 84.21% 84.21%

6Max - - 5,792 $2,850,000 $830.51 $2,400,000 98.00% 94.77%

153Avg - - 3,569 $1,710,749 $555.78 $1,660,250 92.42% 89.22%

78Criteria:8 listings have been selected.

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