Bought with Real Estate Strategies, LLC
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Key Details
Sold Price $2,050,000
Property Type Multi-Family
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
Subdivision Punchbowl-Lower
MLS Listing ID 202421951
Sold Date 07/01/25
Construction Status Average Condition
HOA Y/N No
Year Built 1957
Annual Tax Amount $4,944
Property Sub-Type Multi Family
Property Description
PRICE IMPROVEMENT!
Prime investment opportunity - proforma 6.26% cap rate! This predominantly concrete 9-unit multifamily property is excellently located on Ward Ave. in the heart of Punchbowl. Unbeatable convenience with immediate access to H1 in both directions and a short distance to the vibrant dining and shopping hubs of Kakaako and Ala Moana Shopping Center. Downtown Honolulu is just 1.5 miles away. This property has under-market rents and month-to-month tenants, offering significant upside potential. Units are in classic condition, allowing a new owner to complete a value-add campaign and boost returns even further. The property includes a spacious, fenced grassy area in the back and an area for a community garden between the buildings. Individually metered for electricity and eligible for Bill 7 development.
Please do not go on the property without the listing agent. Sale is subject to 1031 exchange.
Location
State HI
County Oahu
Area Metro
Interior
Fireplace No
Appliance Washer
Laundry Other
Exterior
Parking Features Assigned, Covered
Community Features None
Utilities Available Above Ground Utilities, Electricity Available, Sewer Available, Water Available, Sewer Connected
View Y/N Yes
View Coastline
Total Parking Spaces 5
Building
Lot Description Other
Entry Level Two,Three Or More
Sewer Connected
Level or Stories Two, Three Or More
Construction Status Average Condition
Schools
Elementary Schools Royal
Middle Schools Stevenson
High Schools Roosevelt
Others
Tax ID 1-2-1-039-036-0000
Financing 1031 Exchange
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