This large house is rented to IHS (Institute for Human Services) as a shelter for homeless people immediately after being discharged from hospitals. If they have to go back to homeless lifestyle, many will not recover and have to be admitted to the hospital again. The program is administered by IHS, but it is sponsored by hospitals. So, there is little risk of vacancy and collection loss. It saved millions on medical expenses during the first year alone. Practically a net lease as IHS manages their operations. Property tax is reduced to $300/yr since it is leased to an NPO. Cap rate of 4.52% with four years left in lease indexed to CPI. Immediate cash flow with $5,500/mo rent. 36 Photovoltaic panels. Tax records do not match actual square footage.
Full Property Details
Full Property Details for 1330 Dominis St
Taxes: $25 (2018)
Status: In Escrow Showing
MLS ID: 201818483
Added: 123 day(s) ago
Business Type: Special Purpose
Parking Features: On Site
Neighborhood: MAKIKI AREA
Heating & Cooling
Cooling Type: Individual
Utility Description: Gas, Light Electricity, Small Water Meter
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1330 Dominis Street, Honolulu, HI 96822 (MLS# 201818483) is a
1330 Dominis Street is currently listed for $1,350,000 and was received on July 17, 2018.
This property is listed by Junji Ono from our NATO - East Office.Want to learn more about 1330 Dominis Street?
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Lease with a Right to Purchase
A new affordable option from Home Partners of America. They buy the home, you lease it for 1-5 years with a right to purchase.