2032 Kapiolani Blvd - Apartments FOR SALE


Honolulu, HI 96826- Mccully-Moiliili
$2,600,000 USD
808-353-4732
2032 Kapiolani Blvd, Honolulu, HI for Sale
$2,600,000 USD
Apartments - FOR SALE
1/13
null | 3.01% Cap Rate

2032 Kapiolani Blvd
Honolulu, HI 96826
Mccully-Moiliili


HIGHLIGHTS

  • Prime Location – Near Kapiolani Blvd & McCully St, with easy access to Waikiki, public transportation, shopping, and more.
  • Eight-Unit, Two-Story Walk-Up – Fully occupied with all leases on a month-to-month basis.
  • Recent Renovations & Upgrades: 5 units remodeled within the last year, 3 units partially upgraded. Copper plumbing conversion throughout the building.
  • Individually Metered for Electricity – Tenants pay their own electricity, keeping utility costs low.
  • Low Maintenance & Operating Costs – Recent upgrades reduce ongoing repairs and expenses.
  • Easy to Rent – High demand location with no on-site manager required.

OVERVIEW

This eight-unit, two-story walk-up apartment building is ideally located near Kapiolani Blvd and McCully St, offering convenient access to Waikiki, the Kapiolani corridor, public transportation, shopping, and more. Five of the units have been remodeled within the past year, while the remaining three have received partial upgrades. Significant improvements include copper plumbing conversions, ABS drain line upgrades on the second floor, and a silicone-coated roof completed last year. Additionally, each unit is individually metered for electricity, keeping utility costs low. The building is fully occupied, with all leases on a month-to-month basis. Previously, due to maintenance issues, full occupancy was not maintained, but all concerns have been addressed. Since rental income was lower in previous years and full occupancy has only been achieved in the last six months, I have prepared a pro forma analysis outlining projected income, expenses, and net income. This property is a steady income earner with low maintenance and operational costs, is easy to rent, and does not require an on-site manager.

FOR SALE DETAILS

PRICE

$2,600,000 USD

PRICE/SF

$383 USD /SF

# OF UNITS

8

PRICE/UNIT

$325,000

CAP RATE

3.01%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1957

PARKING SPACES

3

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

5,009 SF

ZONING

A-2

APN/PARCEL ID

1-2-7-003-062-0000

ASK ABOUT THIS PROPERTY

Neal FinemanNeal Fineman Property ManagementMore Info
808-353-4732

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Neal FinemanNeal Fineman Property ManagementMore Info
808-353-4732

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.