Linda McCabe and Erin McCabe with Coldwell Banker Island Properties
Hawaii Condo ManiaMLS: 202415757 $4,000,000
Bedrooms with 0 Baths437 NAMAHANA STREET
HONOLULU HI 96815MLS: 202415757
Status: ACTIVE
List Price: $4,000,000
Price per SQFT: $0
Square Footage: 0Bedrooms
0 Baths
Year Built: 1966
Zip Code: 96815
Listing Remarks
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.
Address: 437 NAMAHANA STREET HONOLULU HI 96815
Listing Courtesy of STANDARD MANAGEMENT LLC
Condo Mania Agent
Linda McCabe
Coldwell Banker Island Properties
REALTOR®
Phone: 808-225-1048
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Listing Details
STATUS: Active SPECIAL LISTING CONDITIONS: None LISTING CONTRACT DATE: 2024-07-09 AREA: METRO BUILDING AREA TOTAL: 6067 YEAR BUILT: 1966 TAXES: $7,104 CONSTRUCTION: HollowTile COMMUNITY FEATURES: None LAUNDRY FEATURES: CoinOperated LOT FEATURES: Other, Level PARKING FEATURES: Covered PROPERTY TYPE: Residential PROPERTY SUB TYPE: MultiFamily NUMBER OF UNITS TOTAL: 12 VIEW: None LISTING AGENT: MICHAEL M OKAMOTO LISTING OFFICE: STANDARD MANAGEMENT LLC LISTING CONTACT: (808) 208-8107
Estimated Monthly Payments
List Price: $4,000,000 20% Down Payment: $800,000 Loan Amount: $3,200,000 Loan Type: 30 Year Fixed Interest Rate: 6.5 % Monthly Payment: $20,226 Estimate does not include taxes, fees, insurance.
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Property Location: 437 NAMAHANA STREET HONOLULU HI 96815
This Listing
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Condo Mania Agent
Erin McCabe
Coldwell Banker Island Properties
Real Estate Associate
Phone: 808.485.9955
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Last Updated: 2024-11-22