Property Listing No Longer Available for Sale

1330 Dominis Street, Honolulu, HI

Others for Sale - $1,350,000 - 3,092 Sq. Ft.


Property Info

CIMLS#1020455
Location
  1330 Dominis Street
  Honolulu HI 96822
UpdatedSeptember 19th, 2018
TypeOthers
Price$1,350,000
Building3,092 Sq. Ft.

Property Description

This large house is rented to IHS (Institute for Human Services) as a shelter for homeless people immediately after being discharged from hospitals. If they have to go back to homeless lifestyle, many will not recover and have to be admitted to the hospital again. The program is administered by IHS, but it is sponsored by hospitals. So, there is little risk of vacancy and collection loss. It saved millions on medical expenses during the first year alone. Practically a net lease as IHS manages their operations. Property tax is reduced to $300/yr since it is leased to an NPO. Cap rate of 4.52% with four years left in lease indexed to CPI. Immediate cash flow with $5,500/mo rent. 36 Photovoltaic panels. Tax records do not match actual square footage.


Financials