Residential Income For Sale

Great multifamily rental property with upside potential. Six 1 bedroom unit, fee simple single story apartment building on 1/4 acre lot, connected to sewer. Lava zone 8, just North of Hilo.

All 6 units are furnished, one is currently vacant for viewing. Each unit has it’s own electric meter and hot water heater. 7 parking spaces with additional street parking available. Roof is approx 20 years old. Just a few minutes walk to downtown Hilo with restaurants, shopping, schools and more.

Current rents: 3 units @ $1, 800, 1 unit @ $1, 600, 1 unit @ $1, 400. All leases are Month-To=Month; all tenants & leases will remain in place through closing.

Gross income: 2024 $91.5k, 2023 $82k, 2022 $84k.

Property tax $4, 779/year;
insurance approx $3k/year;
water approx $1, 200k/year;
sewer approx $1, 800/year;
common area electric approx $150/month.

Shower stalls, carpets and drapes all replaced/repaired in 2023. DSL internet and cable TV connected, owner currently pays these expenses in addition to electricity. Coin op washer & dryer on site.

Don’t miss out on this investment opportunity!