3 Homes on one parcel in Downtown Hilo: 8.8% gross yield

  • 257 Ululani
  • property
  • A
  • B
  • Unit C
  • A-kitchen
  • A-kitchen2
  • B-kitchen
  • B-dining
  • Unit C kitchen1
  • Unit C kitchen
  • A-living
  • Unit C living
  • Unit C built in shelves
  • 298262320
  • A-bedroom
  • A-bath
  • Unit C bath

For Sale $449,000 - Commercial, Residential
8424 6 Bedrooms 3 Bathrooms
 
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This downtown Hilo multi unit property is conveniently located in close proximity to shopping, banking, restaurants, the Hilo Farmers Market, and historic downtown Hilo.
These 3 864 sqft cottages were updated in 1997 with updates to the plumbing and electrical. Recent updates to some of the units include fresh coats of paint and flooring.
These charming cottages each have 2 bedrooms and a bath with a bonus room which could be a den or office. All of the units are very identical in layout with a cozy dining area and living room. There is a front porch which will be a great place for relaxing.
The property is zoned CDH (Downtown Hilo Commercial). This provides you a multitude of opportunities. Some of the long list of possible permitted uses include: Adult day care homes; Art Galleries; Business Services; Home occupations, as permitted under section 25-4-13; Offices: Photography and artist studios; Bed and breakfast establishments, as permitted under section 25-4-7. Please check with the Planning Department for more information.
The cottages sit on a nicely manicured property with tropical foliage. Lots of street parking available. Great location with great income potential.
Currently all units are occupied/rented. Rent for Unit A = $1200, Unit B=$900, Unit C- $ 1200. Each unit has separate electrical meter.
Unit A: Partially furnished. Includes Range/Refrigerator/Washer/Dryer
Unit B: Not furnished. No appliances included
Unit C: Partially furnished. Includes Range/Refrigerator/Washer/Dryer

 

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