Punchbowl-lower Multi-Family

1420 Ward Avenue, Honolulu, Oahu 96822 Get Directions

$2,250,000

 

Total SqFt
4,386
Lot Size Area
5,515 SqFt
Land Tenure
Fee Simple
MLS #
202421951
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Overview

PRICE IMPROVEMENT! Prime investment opportunity - proforma 6.26% cap rate! This predominantly concrete 9-unit multifamily property is excellently located on Ward Ave. in the heart of Punchbowl. Unbeatable convenience with immediate access to H1 in both directions and a short distance to the vibrant dining and shopping hubs of Kakaako and Ala Moana Shopping Center. Downtown Honolulu is just 1.5 miles away. This property has under-market rents and month-to-month tenants, offering significant upside potential. Units are in classic condition, allowing a new owner to complete a value-add campaign and boost returns even further. The property includes a spacious, fenced grassy area in the back and an area for a community garden between the buildings. Individually metered for electricity and eligible for Bill 7 development. Please do not go on the property without the listing agent. Sale is subject to 1031 exchange.

Property Details

Building Type
Apartments
Construction Materials
Concrete, Hollow Tile, Wood Frame
Neighborhood
Punchbowl-lower
Net Operating Income
74258.00
Number Of Units Total
9
Parking Features
Assigned, Covered
Parking Total
5
Property Type
Multi-Family
Building SqFt
4,386
Total SqFt
4,386
Status
Active
Stories
3
Total Actual Rent
$9,025
Total Annual Operating Expenses
$37,500
Total Income
$111,834
View
Coastline
Year Built
1957

Additional Property Info

Disclosures
Call Listor
Days on Market
35
Elementary School
Royal
Flood Zone
Zone X
High School
Roosevelt
Laundry Facilities
Other, Washer
Middle/Junior School
Stevenson
Property Condition
Average
Roof
Asphalt Shingle, Other
Tax Amount
$412
Tax Assessed Value
$1,412,600
Tax Assessed Value Improvements
$281,500
Tax Assessed Value Land
$1,131,100
Topography
Gentle Slope
Utilities
Overhead Electricity, Sewer Fee, Water
Zoning
12 - A-2 Medium Density Apartme

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Listing Courtesy of Standard Management LLC Courtesy of Michael M Okamoto, Standard Management LLC.
Based on information from the Multiple Listing Service of HiCentral MLS, Ltd. Information is deemed reliable but not guaranteed. Copyright 2024 by HiCentral MLS, Ltd.

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