| Description | COMMERCIAL LISTING. RARE FIND in Salt Lake. Owners never thought they'd sell, so took care of the building like they'd keep it forever with lease rents WAY below market. Easy opportunity to 'manage up.' Beautifully maintained building with an elevator and 16 units: 4 ones, 12 twos, and 16 parking with 5 tandem stalls for 21 stalls total (most are covered w/extra charge for usage). Easy to rent units with cool mountain breezes in a desirable neighborhood. Hollow tile construction, simple & clean interiors in excellent condition. All units separately metered for electricity and one water meter. |
|---|---|
| Status | Sold since 03-05-2025 |
| MLS# | 202505434 |
| Price | $4,500,000 |
| Original Price | $4,500,000 |
| Price Change | (0.00%) |
| Studio Units | 0 |
| One Bed Units | 4 |
| Two Bed Units | 12 |
| Three Bed Units | 0 |
| Living Sq Ft | 13,824 |
| Land Sq Ft | 10,000 |
| Land Tenure | FS - Fee Simple |
| Maintenance Fee | $0 |
| Address | 2989 Ala Ilima Street Honolulu HI 96818 |
| Region | Metro |
| Neighborhood | Salt Lake |
| Days on Market | 4 |
| Year Built | 1969 |
| Year Remodeled | 2024 |
| Condition | Excellent |
| View | City |
| Frontage | Other |
| Parking | Assigned, Covered |
| Zoning | 12 - A-2 Medium Density Apartme |
| Flood Zone | Zone X |
| Tax Amount | $778 |
| Assessed Land | $1,732,500 |
| Assessed Building | $932,400 |
| Assessed Total | $2,664,900 |
| Assessed Ratio | 169% |
| Utilities | Cable, Internet, Overhead Electricity, Public Water, Sewer Fee, Telephone, Water |
| Construction | Hollow Tile |
| Lot Features | Clear |
| Disclosures | 1031 Exchange |
| Land Recorded | Land Court |
| Possession | At Closing, Subject To Tenancy |
| Sale Conditions | None |
| Topography | Up Slope |
| Roofing | Other |
| Easements | Electric, Sewer |
| Parcel # | 1-1-1-061-027-0000 |
| Listing courtesy of | Commercial Inv. Strategies |
Property History from MLS
| Date | MLS# | Change | Old Value | New Value | List Price | Sold Price | Assessed Total | Land | Building |
|---|---|---|---|---|---|---|---|---|---|
| 04-25-2025 | 202505434 | Sold | C | S | $4,500,000 | $4,300,000 | $2,664,900 | $1,732,500 | $932,400 |
| 03-09-2025 | 202505434 | Active Under Contract | A | C | $4,500,000 | $4,300,000 | $2,664,900 | $1,732,500 | $932,400 |
| 03-05-2025 | 202505434 | New Listing | A | $4,500,000 | $4,300,000 | $2,664,900 | $1,732,500 | $932,400 |
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