437 Namahana Street, Honolulu, HI 96815

$4,000,000
List Price
$4,000,000
Days on Market
15
MLS#
202415757
Status
ACTIVE
Type
Multifamily
Sq Ft Total
6067
Land Tenure
FS - Fee Simple
Neighborhood
Waikiki

Property Description

Unique opportunity to acquire fee simple ownership of a strategically located parcel of land in Waikiki which is improved with a 12-unit apartment building and 6 parking stalls. This prime property is currently near the end of the ground lease term which is set to expire on January 1, 2025, presenting an investor the rare chance to own a fee simple apartment building in Waikiki. This distinguished property features a well-maintained, fully leased 12-unit apartment building, generating steady rental income. The approaching expiration of the ground lease provides a timely opportunity for investors to unlock further value through redevelopment or enhancement of the existing improvements. Ideal for investors looking to capitalize on the ground lease expiration, this property offers significant value-add opportunities. By renovating the apartment building and adjusting rents to market rates, investors can maximize returns and enhance the property’s overall value.

Additional Information

View
None
Zoning
X2 - Apartment Precinct
Lot Size
4,500
Frontage
Other
Sewer
Connected
Year Built
1966

Mortgage Calculator

Amount of Loan
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Calculator source: Real Geeks

Listing courtesy of Standard Management LLC.

Based on information from the Multiple Listing Service of Hicentral MLS, Ltd. Listings last updated on . Information is deemed reliable but not guaranteed. Copyright: 2024 by HiCentral MLS, Ltd. IDX information is provided exclusively for consumers' personal, non-commercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Contact: (808) 208-8107