437 Namahana Street Honolulu, HI 96815
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.
- Property TypeMulti-Family
- NeighborhoodWaikiki
- CountyOahu
- Taxes$592
- HOA/Condo/Coop Fees$0
- Days on Site35 Days
- MLS StatusActive
- MLS ID Number202415757
- Home Size Source N/A
- Year Built1966
- Lot Size4500 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Parking Spaces 6
- Property Sub Type Multi Family
- Utilities Cable AvailableWater Available
- Zoning X2 - Apartment Precinct
Exterior Features
- Roof Composition
- View None
- Waterfront Features Other
- Lot Other
Community Features
- Community Features None
- MLS Area Metro