Looking for a 1031 Exchange investment property with steady cash flow and potential long-term capital appreciation? Consider Kukilakila Lakefront Development - a waterfront community of Enchanted Lake in Kailua that is peaceful, pet friendly, has resort like amenities and is just minutes to Kailua Town shops and restaurants. This townhouse comes with 4 tenants on 12 month leases earning $8670 per month in gross monthly income; a Gross Rent Multiplier (GRM) of only 12.7, not to mention the demonstrated history of capital appreciation of over 50% in the last 6 years. The property floorplan has been successfully modified from current tax records and renovated to maximize rental income (4 beds and 4 associated baths with each room equipped with WIFI enabled security keypad locks). The renovations were completed with high quality materials and substantially performed by licensed contractors. The unit is being Sold As-Is and is priced accordingly to reflect the unpermitted and non-conforming status of the renovations. Maintenance fees are low and cover a lot. HOA has 100% hurricane insurance.
Property Features
Bedrooms
Bathrooms
- Total Bathrooms: 2 / 1
- Full Bathrooms: 2
- 1/2 Bathrooms: 1
Interior Features
- Flooring: Ceramic Tile, Vinyl
Other Rooms
Land Info
- Lot Size Acres: 0.0411846
- Lot Size Square Feet: 1794
Garage and Parking
- Parking Features: Garage, Guest, Open - 2, Street
- Parking Total: 4
- Garage Sqft: 454
Home Features
- View: Mountain, Sunrise, Sunset
School Information
- Elementary School: Kaelepulu
- High School: Kailua
- Middle School: Kailua
Homeowners Association
- Association Name: Kukilakila
- Maintenance Expense: 709.26
Amenities and Community Features
- Community Features: BBQ, Boat Dock, Club House, Community Association Pool, Exercise Room, Heated Pool, Patio/Deck, Pool on Property, Recreation Area, Resident Manager, Walking/Jogging Path, Wall/Fence
Other Property Info
- Bedroom on 1st Level
- Full Bath on 1st Floor
- Multi Level
- Storage
- Yard
- Annual Tax Amount: 3759.96
- Source Listing Status: Active
- Source Property Type: Condo/Townhouse
- Inclusions: AC Split, AC Window Unit, Attic Fan, Auto Garage Door Opener, Cable TV, Ceiling Fan, Dishwasher, Dryer, Microwave, Range/Oven, Refrigerator, Smoke Detector, Washer, Water Heater
- Area: Kailua
- Property Subtype: townhouse
- Source Neighborhood: KUKILAKILA
- Ownership Type: Fee Simple
- Parcel Number: 1-4-2-93-3-0
- Subdivision: KUKILAKILA
- Source System Name: C2C
Building and Construction
- Total Square Feet Living: 1716
- Year Built: 1973
- Building Name: Kukilakila
- Construction Materials: Double Wall, Slab, Wood Frame
- Entry Level: 1
- Property Age: 51
- Property Condition: Excellent, Above Average
- Levels or Stories: Two
- House Style: Townhouse