| Description | 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. |
|---|---|
| Status | Sold since 09-30-2024 |
| MLS# | 202421951 |
| Price | $2,250,000 |
| Original Price | $2,500,000 |
| Price Change | $-250,000 (-10.00%) |
| Studio Units | 1 |
| One Bed Units | 8 |
| Two Bed Units | 0 |
| Three Bed Units | 0 |
| Living Sq Ft | 4,386 |
| Land Sq Ft | 5,515 |
| Land Tenure | FS - Fee Simple |
| Maintenance Fee | $0 |
| Address | 1420 Ward Avenue Honolulu HI 96822 |
| Region | Metro |
| Neighborhood | Punchbowl-Lower |
| Days on Market | 207 |
| Year Built | 1957 |
| Condition | Average |
| View | Coastline |
| Parking | Assigned, Covered |
| Zoning | 12 - A-2 Medium Density Apartme |
| Flood Zone | Zone X |
| Elementary | Royal |
| Middle | Stevenson |
| High | Roosevelt |
| Tax Amount | $412 |
| Assessed Land | $1,131,100 |
| Assessed Building | $281,500 |
| Assessed Total | $1,412,600 |
| Assessed Ratio | 159% |
| Utilities | Overhead Electricity, Sewer Fee, Water |
| Construction | Concrete, Hollow Tile, Wood Frame |
| Lot Features | Other |
| Disclosures | Call Listor |
| Land Recorded | Regular System |
| Possession | At Closing |
| Sale Conditions | Subject To Repl. Property |
| Topography | Gentle Slope |
| Roofing | Asphalt Shingle, Other |
| Easements | None |
| Parcel # | 1-2-1-039-036-0000 |
| Listing courtesy of | Standard Management LLC |
Property History from MLS
| Date | MLS# | Change | Old Value | New Value | List Price | Sold Price | Assessed Total | Land | Building |
|---|---|---|---|---|---|---|---|---|---|
| 07-01-2025 | 202421951 | Sold | C | S | $2,250,000 | $2,050,000 | $1,412,600 | $1,131,100 | $281,500 |
| 04-25-2025 | 202421951 | Active Under Contract | A | C | $2,250,000 | $2,050,000 | $1,412,600 | $1,131,100 | $281,500 |
| 11-04-2024 | 202421951 | Price Decrease | $2,500,000 | $2,250,000 | $2,250,000 | $2,050,000 | $1,412,600 | $1,131,100 | $281,500 |
| 09-30-2024 | 202421951 | New Listing | A | $2,250,000 | $2,050,000 | $1,412,600 | $1,131,100 | $281,500 |
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