| Description | This eight-unit, two-story walk-up apartment building is ideally located near Kapiolani Blvd and McCully St, offering convenient access to Waikiki, the Kapiolani corridor, public transportation, shopping, and more. Four of the units have been remodeled within the past year, while two have received partial upgrades. The other two units need completed renovations. Significant improvements include copper plumbing conversions, ABS drain line upgrades on the second floor, and a silicone-coated roof completed last year. Additionally, each unit is individually metered for electricity, keeping utility costs low. The building is fully occupied, with all leases on a month-to-month basis. Previously, due to maintenance and probate issues, full occupancy was not maintained, but all concerns have been addressed. Since rental income was lower in previous years and full occupancy has only been achieved recently, I have prepared a pro forma analysis outlining projected income, expenses, and net income. This property is a steady income earner with low maintenance and operational costs, is easy to rent, and does not require an on-site manager. |
|---|---|
| Status | Sold since 03-05-2025 |
| MLS# | 202506283 |
| Price | $1,800,000 |
| Original Price | $2,600,000 |
| Price Change | $-800,000 (-30.77%) |
| Studio Units | 0 |
| One Bed Units | 7 |
| Two Bed Units | 1 |
| Three Bed Units | 0 |
| Living Sq Ft | 3,706 |
| Land Sq Ft | 5,000 |
| Land Tenure | FS - Fee Simple |
| Maintenance Fee | $0 |
| Address | 2032 Kapiolani Boulevard Honolulu HI 96826 |
| Region | Metro |
| Neighborhood | Moiliili |
| Days on Market | 250 |
| Year Built | 1957 |
| Year Remodeled | 2024 |
| Condition | Average |
| View | None |
| Frontage | Other |
| Parking | Assigned |
| Zoning | 12 - A-2 Medium Density Apartme |
| Flood Zone | Zone AO |
| Elementary | Lunalilo |
| Middle | Washington |
| High | Kaimuki |
| Tax Amount | $425 |
| Assessed Land | $1,340,000 |
| Assessed Building | $116,900 |
| Assessed Total | $1,456,900 |
| Assessed Ratio | 124% |
| Utilities | Cable, Internet, Overhead Electricity, Public Water, Sewer Fee, Telephone |
| Construction | Single Wall, Wood Frame |
| Lot Features | Clear |
| Disclosures | Call Listor, Non Resident Owner |
| Land Recorded | Land Court |
| Possession | At Closing |
| Sale Conditions | None |
| Topography | Level |
| Roofing | Pitch & Gravel |
| Easements | None |
| Parcel # | 1-2-7-003-062-0000 |
| Listing courtesy of | Neal Fineman Property Mgmt |
Property History from MLS
| Date | MLS# | Change | Old Value | New Value | List Price | Sold Price | Assessed Total | Land | Building |
|---|---|---|---|---|---|---|---|---|---|
| 09-08-2026 | 202617140 | New Listing | A | $2,250,000 | $0 | $1,465,900 | $1,340,000 | $125,900 | |
| 02-19-2026 | 202506283 | Sold | C | S | $1,800,000 | $1,600,000 | $1,456,900 | $1,340,000 | $116,900 |
| 11-10-2025 | 202506283 | Active Under Contract | P | C | $1,800,000 | $1,600,000 | $1,456,900 | $1,340,000 | $116,900 |
| 11-10-2025 | 202506283 | Pending | A | P | $1,800,000 | $1,600,000 | $1,456,900 | $1,340,000 | $116,900 |
| 08-20-2025 | 202506283 | Price Decrease | $2,050,000 | $1,800,000 | $1,800,000 | $1,600,000 | $1,456,900 | $1,340,000 | $116,900 |
| 06-19-2025 | 202506283 | Price Decrease | $2,200,000 | $2,050,000 | $1,800,000 | $1,600,000 | $1,456,900 | $1,340,000 | $116,900 |
| 05-12-2025 | 202506283 | Price Decrease | $2,600,000 | $2,200,000 | $1,800,000 | $1,600,000 | $1,456,900 | $1,340,000 | $116,900 |
| 03-05-2025 | 202506283 | New Listing | A | $1,800,000 | $1,600,000 | $1,456,900 | $1,340,000 | $116,900 |
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