vacation rental downtown kapaa kauai HawaiiI

Kapaa, HI (Kauai County)

Seller Financing Available
ohiakai Cottage & Hale more infoand pictures www.ohiakai,com
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Asking Price: Get Financing: $965,000

Cash Flow: $85,000

Gross Revenue: $125,000

EBITDA: N/A

FF&E: N/A

Inventory: N/A

Real Estate: N/A

Established: 2005

vacation rental downtown kapaa kauai HawaiiI

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Business Description

Sale price: $965,000 Great Investment Opportunity. 2017 and 2018 best years ever for Kauai. Continued Growth is expected because of more flights to Kauai.
We are most interested in buyers who are pre-approved or pre qualified by a mortgage lender and are working on getting pre-approved. We are also trying to appeal to all cash investor buyers.
P&L, fact sheet, and/or schedule E from tax returns 2016 and 2017 will sent to qualified buyers.

Ohia Kai Vacation Rentals offers 2 vacation rental units, a cottage and the second level of a large duplex two family house, which we call the hale, located behind the cottage. Both the Duplex House and the cottage are county permitted as vacation rentals and on the same property. The new owner takes over the permits.

The current use of the fist level of the duplex house has 5 professional offices, 1 bath, a waiting room and over 1000 sq feet usable space. currently rented to professionals working with a company called Body Evolve and to Pacific Clinic, Inc. a corporation we own.

As a duplex the first level and the second level can have full kitchens. The second level is a vacation rental that we call our Hale. See at www.vrbo.com/85235.

At this time Pacific Clinic, inc. and Body Evolve are willing to continue renting the 1st level from the new owners. Since I also own Pacific Clinic I have not been paying rent to myself for the two offices that Pacific clinic uses.

Located in downtown Kapaa Conveniently located a block from the ocean, halfway between Kauai's North and South shores. Charming Kapa`a town was recently dubbed number 1 by TripAdvisor. Kauai the Garden Island is a true pacific gem, from it's sculpted mountain ridges, lush forest, and spectacular beaches to the nature grandeur of Waimea Canyon and awe-inspiring scenery of the Na Pali Coast.

The Ohia Kai cottage is also a vacation rental. See at www.vrbo.com/95235. The cottage has 1 bedroom, 1 bath, a living room with a bed and a family/kitchen and 3 small AC for each private area . A electric plug in air mattress is also available.

The Ohia Kai Hale rental on the second level is a spacious home . There are 2 BR and both have king size beds, 1 bath, full kitchen, large LR and large Lanai.

Rentals come equipped with cable TV, WiFi, beach chairs mats, linens, ceiling fans, outdoor grills, and kitchen appliances. The two rentals share access to the laundry room.
Current use:
2 vacation rentals. 5 ground floor professional offices plus waiting room with bathroom currently rented to , Pacific Clinic Inc., a psychology practice and Body Evolve. http://www.bodyevolvenow.com
Ohia Kai vacation rentals has a face book page. Videos for the cottage & Hale www.youtube.com.

The business includes the property, a large house which we call our hale and a stand alone cottage. The vacation rental business is assigned to the property and architectural drawings are current. Our property is zoned residential and commercial which gives you lots of flexibility. For example you could live in one of the units and rent the additional units.

At the web site you can see current rates and availability. Click on the word calendar or availability under the picture and it will show available. Under the picture click on the word rates and it will take you right to the rates and any specials that are offered. You can see that our reviews are positive.
Kauai Vacation Rental Kapaa Hale Downtown: Ideal for family, multi-generational, or couples traveling together. Conveniently located a block from the ocean and charming Kapa`a town. Kauai Vacation Rental Kapaa Hale Downtown:Our cottage is a separate vacation rental that is located on the same property with the duplex house behind the cottage and 3 parking spaces in between.
We also have a vacation rental condo in the executive center in downtown Honolulu 1088 Bishop Street for sale for $245,000, not listed, see at www.vrbo.c

Detailed Information

Inventory:
Included in asking price
Real Estate:
Owned
Included in asking price
Building SF:
3,500
Employees:
0
Facilities:
Real Tax Map Key # 4-4-5-9-59 Annual Tax $5320.80 Lot size: 7,500 sq ft. 2 Total Buildings One is a duplex house the other is a cottage. simple Pitt code: 2-vacation rentals Year Built 1990 Effective year 1993. Zoning: SPA-A (residential and commercial). Lot 7500 Sq, feet. Main Building 2747 sq ft. cottage 448 sq. feet. Furniture negotiable. Room for 5 or 6 vehicles. Built 1990. Effective year 1993.Architecture drawing are current. Real Estate: Land duplex house and cottage Furniture, Fixtures, & Equipment (FF&E) (Home Based) (Home Based)
Competition:
Vacation rentals on Kauai have to be permitted. Illegal ones are being shut down. . During the recession a lot of vacation rental owners decided to rent long term instead. Since Dec 2012 business is booming. Prime location one block to beach in downtown Kapaa. The property offers different ways to maximize income while living on the property or as an investment. We paid $757,000 for the property in 2005 & have done a lot of improvements while creating the vacation and short term rental business that allowed me to semi retire from pacific clinic.
Growth & Expansion:
Keeping the vacation rentals rented 90 to 95% of the time is our goal and currently we have been able to do that. The property is zoned residential and commercial. A new owner could decide to live in one of the units and rent the other two. what you can expect is a good return on investment and the property is very likely to increase a lot in the next couple of years. Visitor arrivals continue to increase each year and is expected to increase 17% in 2018 as more direct flights from the mainland will be available. 2017 and 2018 best years ever.
Financing:
may be willing to carry a second for $25,000 or less only
Support & Training:
Negotiable We are willing to manage the property for a small % & train the new owners. See both the house, and the cottage at www.ohiakai.com we are strategically located on the Coconut Coast. centrally located between two major towns on the island, Poipu and Hanalei, and 7 miles from the airport in Lihue. Spacious, breezy, tropical "home away from home." shave ic
Reason for Selling:
we are both retired and want to do a lot of overseas travel.
Home-Based:
This business is Home-Based
Business Website:
http://www.ohiakai.com
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Business Listed By:
bob brown

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