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SOLD
MLS: 202506283
 
Asking Price: $1,800,000 FS - Fee Simple
Sold Price: $1,600,000
Sold Date: 02/19/2026
Type: Multi-Family
District: Metro
Address: 2032 Kapiolani Boulevard, Honolulu, HI
Neighborhood: Moiliili
Land Area: 5,000 SF
Parking: Assigned
Days on Market: 367
(The Price of the property was lowered by $800,000 on 08/20/2025)
Year Built: 1957
Zoning: 12 - A-2 Medium Density Apartm
Land Recorded: Land Court
Property Taxes: $424,.93
Assessed Value: $1,456,900,.00
Assessed Ratio: 123.55%
Listing Courtesy: Neal Fineman Property Mgmt
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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. Four of the units have been remodeled within the past year, while two have received partial upgrades. The other two units need completed renovations. 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 and probate 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 recently, 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.


 
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