| Description | NEW PRICE $1,750,000! Excellent investment opportunity in Kapahulu on a large, level 7,036 sq. ft. lot with A-2 zoning. This property offers both immediate income potential and long-term development options. The existing structure includes three units: two 2-bedroom/1-bath units upstairs and one 4-bedroom/2-bath unit downstairs, with the option to reconfigure the lower level into two 2-bedroom/1-bath units. Estimated rental income is approximately $6,000/month in current condition, with potential to increase to $8,000+/month after updates, plus additional income from parking. For developers, the true value lies in the land and zoning flexibility, with the possibility to redevelop into an apartment complex or maximize density. Bill 7 potential Conveniently located near Waikiki, Kapiolani Park, golf courses, shops, and restaurants. Property is vacant and ready for immediate rental, renovation, or redevelopment. |
|---|---|
| Status | Sold since 02-12-2025 |
| MLS# | 202505011 |
| Price | $1,750,000 |
| Original Price | $1,999,000 |
| Price Change | $-249,000 (-12.46%) |
| Studio Units | 0 |
| One Bed Units | 0 |
| Two Bed Units | 2 |
| Three Bed Units | 1 |
| Land Sq Ft | 7,036 |
| Land Tenure | FS - Fee Simple |
| Maintenance Fee | $0 |
| Address | 750 Makaleka Avenue Honolulu HI 96816 |
| Region | Metro |
| Neighborhood | Kapahulu |
| Days on Market | 350 |
| Year Built | 1973 |
| Condition | Average |
| View | None |
| Parking | Open |
| Zoning | 12 - A-2 Medium Density Apartme |
| Flood Zone | Zone X |
| Tax Amount | $571 |
| Assessed Land | $1,736,200 |
| Assessed Building | $220,200 |
| Assessed Total | $1,956,400 |
| Assessed Ratio | 89% |
| Utilities | Overhead Electricity, Public Water, Water |
| Construction | Above Ground, Hollow Tile, Single Wall |
| Lot Features | Clear |
| Disclosures | Property Disclosure Stmt |
| Land Recorded | Regular System |
| Possession | At Closing, Negotiable |
| Sale Conditions | None |
| Topography | Level |
| Roofing | Composition |
| Easements | Electric |
| Parcel # | 1-2-7-035-010-0000 |
| Listing courtesy of | Compass |
Property History from MLS
| Date | MLS# | Change | Old Value | New Value | List Price | Sold Price | Assessed Total | Land | Building |
|---|---|---|---|---|---|---|---|---|---|
| 05-31-2026 | 202505011 | Sold | C | S | $1,750,000 | $1,700,000 | $1,956,400 | $1,736,200 | $220,200 |
| 01-28-2026 | 202505011 | Active Under Contract | A | C | $1,750,000 | $1,700,000 | $1,956,400 | $1,736,200 | $220,200 |
| 09-16-2025 | 202505011 | Price Decrease | $1,999,000 | $1,750,000 | $1,750,000 | $1,700,000 | $1,956,400 | $1,736,200 | $220,200 |
| 02-14-2025 | 202505011 | New Listing | A | $1,750,000 | $1,700,000 | $1,956,400 | $1,736,200 | $220,200 |
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