About 87-118 Alapaki Street
LEGAL non-conforming MULTIPLE DWELLING property a stone's throw from beautiful, white-sand Tumblelands beach! TWO DETACHED homes, with newly painted exteriors, located on one 5,000 sq. ft. lot (NOT A CPR) with separate electric meters (one water meter), separate walkways, individual water heater hookups, and separate fully-fenced yards. Potential CAP RATE about 6% with pro-forma rents of $1,800/mo and $2,200/mo respectively and insurance and property tax expenses. Front home 916 sq. ft., single wall construction with 3 bedrooms, 1 bath, newer roof (2019), kitchen, living room, driveway, storage, and mango and citrus trees. Back home: Approx. 329 sq. ft., double-wall construction with 1 bedroom, 1 bath, kitchen, living room, and huge porch. Perfect property for investors, multi-family, and owner occupant(s) that want to live in one home and rent out the other home. One range electrical outlet and one water heater need replacing. Close to Waianae Comp hospital, restaurants, beaches. Room counts and square footage in MLS do not match tax records.
