437 Namahana Street is a $4,000,000, 6,067 square foot home on a 0.10 acre lot located in Honolulu, HI.
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.
| Total Square Feet | 6,067 |
| Interior Features | Amenities - None Utilities - Cable |
| # Parking Spaces | 6 |
| Parking Types | Covered |
| Exterior Features | Easements - None Utilities - Internet Utilities - Overhead Electricity |
| Views | None |
| Construction Types | Hollow Tile Property Condition - Average |
| Land Type | Other Lot Property Frontage - Other Topography - Level |
| Water Source | Utilities - Public Water |
| Sewer | Connected |
| Property Type | Multi-Family |
| Property Sub Type | Multi-Family |
| Style Characteristics | Multi-Family |
| Style | Stories - Three Fee Simple |
| Year Built | 1966 |
| Maintenance Expenses | $0.00 |
| Elementary School | ala wai |
| Middle School | washington |
| High School | mckinley |
| Neighborhood | Waikiki |
Based on information from the HICENTRAL MLS LTD., last updated 09/07/2024 at 02:13pm MDT. Listing information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed by the MLS or this website.
