1260 Lower Main St
$547,000 Fee Simple
3 Bed, 2 Bath, 720 Sqft, 0.21 Acres
Listed by: Kw Island Living (ka)
An Entrepreneurs Dream. Property zoned LIGHT INDUSTRIAL (M-1). This property cries for a 20-unit apartment building. Probably one of the MOST ideal and profitable choices would be to build a 20-unit apartment building with tandem parking. Used currently, as it is, cap rate of 9. A good Business Investment/Rental Income of $4200/mo. or Combo Business/Home or Home/Rental on L. Main. This property boasts a total of 5 BR, 2 ¾ BA, 1,464 sq. ft., on 0.2127 acres. All separately fenced with a vacant fenced area of land in the back, appx. 64' x 68,' over 4,350 sq. ft., which is part of this property and holds many possibilities. There are 2 Separate Dwellings, 2 Electric Meters, 2 Water Meters, Separately Fenced and 2 Addresses: 206 and 208 Nakila Pl. The first home is 3 BR, 1¾ BA with 720 sq. ft. and rents for $2400/mo. The second home, or Ohana, has 2 BR, 1 BA with 744 sq. ft. and rents for $1800/mo., total $4200/mo. rental income. The lot could also be rented separately. This property could be used so the owner could live in one home and run a business from the other; or live in one of the homes and rent the other, or just enjoy both dwellings for themselves or rent both. The property can continue to be used as residential if the owner chooses. Versatile and endless possibilities. The property is located directly on Lower Main Street, but can be accessed on Nakila Pl, too, where the carport is located. Currently, the homes are utilized as a residential single family property with an Ohana. Close to City Parks, Dog Parks, Community Pool, Baldwin Stadium, County Fair, Hospital, many dining options, shopping malls, theaters, close to the ocean and so much more. An opportunity to purchase a property that offers so much is rarely available. Check it out!