Waiakea Villas

Waiakea Villas Apartments, Hilo, Big Island of Hawaii

Tower purchased, REO, the fee simple interest in the Waiakea Villas, which is located 1.4 miles from our oceanfront Hilton DoubleTree Resort & Golf Course. The $7.7M Purchase Price for 162 Condominium Units is a mere $47,530/unit. The condominiums are currently operating as 154 apartments at rental rates well below the market, and 8 additional commercial condos. Tower is renovating the interior and exterior of the project and upon completion of the value-add improvements plans to remarket the project.

Our mainland experience also includes the ownership and renovation of 1000 multi-family units in Chicago, Illinois and California.