Two Fee Simple Apartment Buildings for Sale
340-B N. School Street & 1610 Frog Lane consist of 2 apartment buildings containing a total of six (6) units.
340-B N. School Street is a 3-story walk-up building with 3 tandem parking stalls plus an additional 2 stalls on the ground floor plus four (4) 2-bed/1-bath units on the upper 2 levels. 1610 Frog Lane is a 2-story walk up with 1 unit on each floor and 3 parking stalls fronting the property. Each unit comes equipped with an oven/range, refrigerator, washer/dryer, and A/C window unit.
The property is currently used as student housing and will be unencumbered with tenant leases at the end of the Spring semester in early July 2019.
- High Barriers to Entry
- Lack of New Apartment Building Development
- In-Place Rents Below Market Rates
- Separately Metered Electricity Allows Tenants to be Billed Directly by HECO
- Strong Demand for Rental Units with Limited Supply in Submarket