Transcription of THE EQUUS - images4.loopnet.com
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THE EQUUS - images4.loopnet.com
KANEOHEKAPOLEIHALEIWAAIEAMILILANIWAIKIKI HONOLULUTHE EQUUSWAIKIKI HOTEL REPOSITIONING OPPORTUNITYFor Sale | Fee Simple | Unencumbered1696 ALA MOANA BLVD | WAIKIKI, HONOLULU, SUMMARYA sking Price$23,000,000 Address1696 Ala Moana Boulevard, Honolulu, HI 968152016 Actual NOI$1,239,0002017 Actual NOI$871,8002018 Budgeted NOI$1,355,000 TenureFee SimpleFloors10 Land Area6,864 square feetBuilding Area27,476 square feet# of Rooms68# of Parking Stalls15 on-site plus 14 in the Marina Tower WaikikiTMK No.(1) 2-6-11: 20 ZoningAPART within the Waikiki Special DistrictINVESTMENT HIGHLIGHTS > Rare fee simple boutique hotel opportunity > Unencumbered of management operations > Well-located boutique hotel at the entrance to Waikiki > High barriers to entry due to lack of available land and high construction costs > Strong hotel market fundamentals > Profitable lodging facility with tremendous potential for additional growth in new income > Resort fee newly implemented to dramatically increase revenue VALUE ENHANCEMENT OPPORTUNITIES > Branding Upgrade > Condo Conversion > Room rate (ADR) GrowthVALUE ENHANCEMENT OPPORTUNITIES > Branding Upgrade > Condo Conversion > Room rate (ADR) GrowthPROPERTY HIGHLIGHTS > All 68 units in the building are wholly owned > No additional condominiums included in the transaction > Raised to stars on Expedia based on restaurant > Walking distance to b
in favor of Hawaii Polo Inn, LLC dba The Equus Hotel, whose principal place of business and post office address is 1696 Ala Moana Boulevard, Honolulu, ...
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