| Description | Multi-Unit Investment Opportunity in Prime Punchbowl Location with beautiful ocean, sunset, mountain, and city views from the balcony! A rare find in the Punchbowl area! This versatile property features two separate structures with a total of five units, offering an incredible investment opportunity. With four units currently generating $5,650 in monthly rental income, potentially $9650 with 5th rental unit for even more revenue! The property includes a carport for three vehicles, copper piping in the main unit, and a highly desirable location with proximity to UH Manoa, HPU, community colleges, hospitals, downtown, and major conveniences. Investor-friendly and tenant-occupied—please allow 48-hour notice for showings. Do not disturb tenants. Don’t miss this chance to own a fantastic income-producing property in a prime Honolulu location! |
|---|---|
| Status | Active since 04-08-2026 |
| MLS# | 202607167 |
| Price | $1,549,000 |
| Original Price | $1,599,000 |
| Price Change | $-50,000 (-3.13%) |
| Studio Units | 3 |
| One Bed Units | 1 |
| Two Bed Units | 0 |
| Three Bed Units | 1 |
| Living Sq Ft | 3,634 |
| Land Sq Ft | 4,656 |
| Land Tenure | FS - Fee Simple |
| Maintenance Fee | $0 |
| Address | 1578 Pele Street Honolulu HI 96813 |
| Region | Metro |
| Neighborhood | Punchbowl Area |
| Days on Market | 172 |
| Year Built | 1956 |
| Year Remodeled | 2026 |
| Condition | Average |
| View | City, Mountain, Ocean, Sunset |
| Frontage | Other |
| Parking | Covered, Unassigned |
| Zoning | 07 - R-3.5 Residential District |
| Flood Zone | Zone X |
| Tax Amount | $636 |
| Assessed Land | $970,600 |
| Assessed Building | $457,700 |
| Assessed Total | $1,428,300 |
| Assessed Ratio | 108% |
| Utilities | Cable, Internet, Overhead Electricity, Public Water, Sewer Fee, Telephone, Water |
| Construction | Above Ground, Other, Single Wall, Wood Frame |
| Lot Features | Other |
| Disclosures | Non Resident Owner, Property Disclosure Stmt, See Remarks |
| Land Recorded | Land Court |
| Possession | At Closing |
| Sale Conditions | None |
| Topography | Down Slope |
| Roofing | Asphalt Shingle, Other |
| Easements | None |
| Parcel # | 1-2-2-003-017-0000 |
| Listing courtesy of | Coldwell Banker Island Prop |
Property History from MLS
| Date | MLS# | Change | Old Value | New Value | List Price | Sold Price | Assessed Total | Land | Building |
|---|---|---|---|---|---|---|---|---|---|
| 06-18-2026 | 202607167 | Price Decrease | $1,599,000 | $1,549,000 | $1,549,000 | $0 | $1,428,300 | $970,600 | $457,700 |
| 04-08-2026 | 202607167 | New Listing | A | $1,549,000 | $0 | $1,428,300 | $970,600 | $457,700 |
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