Active
437 Namahana Street
Honolulu HI, 96815
$4,000,000
$659.30 per sqft
Active
12 Beds
6,067 sqft
Multi-family
Built in 1966
Unique opportunity to acquire fee simple ownership of a strategically located parcel of land in Waikiki which is improved with a 12-unit apartment building and 6 parking stalls. This prime property is currently near the end of the ground lease term which is set to expire on January 1, 2025, presenting an investor the rare chance to own a fee simple apartment building in Waikiki.
This distinguished property features a well-maintained, fully leased 12-unit apartment building, generating steady rental income. The approaching expiration of the ground lease provides a timely opportunity for investors to unlock further value through redevelopment or enhancement of the existing improvements.
Ideal for investors looking to capitalize on the ground lease expiration, this property offers significant value-add opportunities. By renovating the apartment building and adjusting rents to market rates, investors can maximize returns and
enhance the property's overall value.
202415757
MLSⓇ ID
July 9, 2024
Listed
November 22, 2024
Updated
Map
437 Namahana Street
Honolulu HI, 96815
Interior Features
Total Stories
3
Bedrooms
12
Laundry Description
Common Area
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.1 Acres
Lot Features
Level
Roof
Composition
School Information
High School
Mckinley
Elementary School
Ala Wai
Other Property Details
Area Name
Metro
Taxes
$7,104
Tax Frequency
Annually
Days on Market
69
Garage
No
Parking Total
6
View
No
County
Oahu
Water Source
Public
Pool
No
Zoning
X2 - Apartment Precinct
Courtesy of Standard Management LLC, Michael M Okamoto
Listing Contact: (808) 208-8107
Based on information from the Multiple Listing Service of HI - Honolulu Board of REALTORS® / HiCentral (HBR) listings last updated on 11/22/2024 4:38 AM UTC. Information is deemed reliable but not guaranteed. Copyright: 2024 by the Honolulu Board of REALTORS®/ HICentral. Some of the active listings appearing on this site may be listed by other REALTORS®. If you are interested in those active listings, our company may represent you as the buyer's agent. If the active listing you are interested in is our company's active listing, you may speak to one of our agents regarding your options for representation. IDX information is provided exclusively for consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS. The MLS may, at its discretion, require the use of other disclaimers as necessary to protect participants and/or the MLS from liability.
©2024 Honolulu Board of REALTORS®/ HICentral. All rights reserved.
Data last updated 4:38 AM UTC, 11/22/2024
