| MLS: 202521036 (Active - For Sale) Asking Price: $2,300,000 FS - Fee Simple Type: Multi-Family District: Metro Address: 404 Magellan Avenue, Honolulu, HI Neighborhood: Punchbowl-lower Land Area: 5,376 SF View: City,Mountain Parking: Assigned Days on Market: 159 (The Price of the property was lowered by $550,000 on 11/18/2025) Year Built: 1948 Zoning: 12 - A-2 Medium Density Apartme Land Recorded: Dual Systems Property Taxes: $368 Assessed Value: $1,260,900 Assessed Ratio: 182.41% Listing Courtesy: Compass | Google Map County Records Add to Watch List Print Version Request Info All Multi-Family Homes For Sale in Punchbowl-lower |
PRIME INVESTMENT OPPORTUNITY - REALIZE IMMEDIATE INCOME UPSIDE OF 7% CAP RATE W/ ONLY A FEW MINOR CHANGES!! - In the heart of Honolulu this 9-unit property at 404 Magellan Ave offers a strong foundation with 9 separate electric meters, 9 separate gas meters, and individual gas water heaters for each unit—a rare setup that maximizes tenant independence and reduces ownership expenses. The building is currently generating income with solid rental history, and offers excellent upside potential: simply increase rents to market value or enhance returns with light remodeling or upgrades. This property provides flexibility and long-term growth opportunities in a highly desirable location close to schools, shops, and major transit routes. A must-see for investors looking for cash flow today and room to grow tomorrow!
4 Sold Properties Found (Last 12 months)
| Description | List Date | Sold Date | List Price | Sold Price |
|---|---|---|---|---|
| 0 Bed 0 Bath | 04/05/2025 | 05/27/2025 | $1,880,000 | $1,930,000 |
| 0 Bed 0 Bath | 09/30/2024 | 07/01/2025 | $2,250,000 | $2,050,000 |
| 0 Bed 0 Bath | 11/07/2025 | 02/27/2026 | $2,989,000 | $2,989,000 |
| 0 Bed 0 Bath | 09/25/2024 | 05/15/2025 | $8,000,000 | $8,000,000 |
| Average Price: | $3,742,250 | |||
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