| Description | 20-UNIT RENOVATED APARTMENT BUILDING FOR SALE! 20-unit, renovated CMU apartment building with 20 covered and secured parking stalls, just outside downtown Honolulu. The property is 100% occupied and provides high, stable cash flow due to upgraded units, a secured building, and a convenient location. Fantastic unit mix of (18) 2-bedroom units with lanais and (2) 1-bedroom units, each with a private, secured entrance and front lanai. The entire property is fenced and gated, with keyed security doors and a roll-up gate on the parking garage. Landlord-owned, coin-operated laundry and a leased roof antenna for additional income. In addition to exterior renovations, including landscaping and a roof re-coating, unit interiors were upgraded with luxury finishes, including new paint, LVT flooring, cabinets, counters, appliances, and light and plumbing fixtures. This is an extremely rare opportunity to acquire a large, renovated, and stable building in town. Proforma 4.77% cap! |
|---|---|
| Status | Sold since 09-25-2024 |
| MLS# | 202421815 |
| Price | $8,000,000 |
| Original Price | $8,350,000 |
| Price Change | $-350,000 (-4.19%) |
| Studio Units | 0 |
| One Bed Units | 2 |
| Two Bed Units | 18 |
| Three Bed Units | 0 |
| Living Sq Ft | 14,593 |
| Land Sq Ft | 11,697 |
| Land Tenure | FS - Fee Simple |
| Maintenance Fee | $0 |
| Address | 1463 Lusitana Street Honolulu HI 96813 |
| Region | Metro |
| Neighborhood | Punchbowl-Lower |
| Days on Market | 191 |
| Year Built | 1974 |
| Year Remodeled | 2002 |
| Condition | Excellent |
| View | City |
| Frontage | Other |
| Parking | Assigned, Covered |
| Zoning | 12 - A-2 Medium Density Apartme |
| Flood Zone | Zone X |
| Elementary | Royal |
| Middle | Keelikolani |
| High | Mckinley |
| Tax Amount | $1,135 |
| Assessed Land | $2,104,800 |
| Assessed Building | $1,783,600 |
| Assessed Total | $3,888,400 |
| Assessed Ratio | 206% |
| Utilities | Cable, Internet, Overhead Electricity, Public Water, Telephone, Water |
| Construction | Above Ground, Hollow Tile |
| Lot Features | Other |
| Disclosures | 1031 Exchange, Licensed Owner, Pet on Property |
| Land Recorded | Dual Systems |
| Possession | At Closing |
| Sale Conditions | None |
| Topography | Level |
| Roofing | Other |
| Easements | None |
| Parcel # | 1-2-1-021-016-0000 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|
| 05-15-2025 | 202421815 | Sold | C | S | $8,000,000 | $8,000,000 | $3,888,400 | $2,104,800 | $1,783,600 |
| 04-04-2025 | 202421815 | Active Under Contract | A | C | $8,000,000 | $8,000,000 | $3,888,400 | $2,104,800 | $1,783,600 |
| 03-09-2025 | 202421815 | Price Increase | $7,995,000 | $8,000,000 | $8,000,000 | $8,000,000 | $3,888,400 | $2,104,800 | $1,783,600 |
| 02-24-2025 | 202421815 | Price Decrease | $8,350,000 | $7,995,000 | $8,000,000 | $8,000,000 | $3,888,400 | $2,104,800 | $1,783,600 |
| 09-25-2024 | 202421815 | New Listing | A | $8,000,000 | $8,000,000 | $3,888,400 | $2,104,800 | $1,783,600 | |
| 05-29-2024 | 202403457 | Cancelled | A | W | $8,350,000 | $0 | $3,890,300 | $2,104,800 | $1,785,500 |
| 02-12-2024 | 202403457 | New Listing | A | $8,350,000 | $0 | $3,890,300 | $2,104,800 | $1,785,500 |
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