Completed in 2017. 101 and 117 Maluniu Avenue in Kailua offers a rare opportunity to own a new apartment complex in one of Hawaii's most desirable towns. On the beach end of Kailua town these apartments offer great access to both Kailua Beach and Kailua town shops and restaurants. All 38 units on the 34,844 square feet of land have been individually condominiumized. Occupancy has been at 100% since final completion fall of 2017. Each unit is individually metered for all utilities. PV system (not shown in current photos) offsets owner expenses by approximately $45,000 per year. 75 stalls for 38 units. Storage for surfboards, bicycles, and kayaks. Condominiumized units can be sold separately. Individually taxed units are assessed below class A tax rates. Selling at a 4.19% cap rate.
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