| Description | Fee simple, 12-unit apartment building with 6 parking stalls and coin operated laundry on-site. All tenants on month-to-month leases at an average rent of $1,250, which is low for a nice, one bedroom unit in Waikiki. This prime building recently returned to the ground lessor. Take a look at the photos of each pleasant unit to see the condition – they are all 1 bedroom / 1 bathroom units. The entire property is secured around the perimeter with a gate and there is a separate, gated-off strip of land in the back which could become a garden, outdoor common area, or bark park for pets. This property offers significant value-add opportunities. By adjusting rents to market rates, investors can maximize returns and enhance the property’s overall value. |
|---|---|
| Status | Sold since 07-09-2024 |
| MLS# | 202415757 |
| Price | $4,000,000 |
| Original Price | $4,000,000 |
| Price Change | (0.00%) |
| Studio Units | 0 |
| One Bed Units | 12 |
| Two Bed Units | 0 |
| Three Bed Units | 0 |
| Living Sq Ft | 6,067 |
| Land Sq Ft | 4,500 |
| Land Tenure | FS - Fee Simple |
| Maintenance Fee | $0 |
| Address | 437 Namahana Street Honolulu HI 96815 |
| Region | Metro |
| Neighborhood | Waikiki |
| Days on Market | 226 |
| Year Built | 1966 |
| Condition | Above Average,Average |
| View | None |
| Frontage | Other |
| Parking | Covered |
| Zoning | X2 - Apartment Precinct |
| Flood Zone | Zone AO |
| Elementary | Ala Wai |
| Middle | Washington |
| High | Mckinley |
| Tax Amount | $592 |
| Assessed Land | $1,688,100 |
| Assessed Building | $342,400 |
| Assessed Total | $2,030,500 |
| Assessed Ratio | 197% |
| Utilities | Cable, Internet, Overhead Electricity, Public Water |
| Construction | Hollow Tile |
| Lot Features | Other |
| Disclosures | None, Call Listor, See Remarks |
| Land Recorded | Land Court |
| Possession | At Closing |
| Sale Conditions | None |
| Topography | Level |
| Roofing | Composition |
| Easements | None |
| Parcel # | 1-2-6-016-055-0000 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|
| 04-30-2025 | 202415757 | Sold | C | S | $4,000,000 | $3,700,000 | $2,030,500 | $1,688,100 | $342,400 |
| 02-20-2025 | 202415757 | Active Under Contract | A | C | $4,000,000 | $3,700,000 | $2,030,500 | $1,688,100 | $342,400 |
| 07-09-2024 | 202415757 | New Listing | A | $4,000,000 | $3,700,000 | $2,030,500 | $1,688,100 | $342,400 |
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