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MLS: 202526036 (Active - For Sale)
 
Asking Price: $2,800,000 FS - Fee Simple
Type: Multi-Family
District: Metro
Address: 1039 Wong Lane, Honolulu, HI
Neighborhood: Kapalama
Land Area: 21,290 SF
Parking: Covered,Open
Days on Market: 5
Year Built: 1953
Easements: Driveway
Zoning: 05 - R-5 Residential District
Land Recorded: Dual Systems
Property Taxes: $772
Assessed Value: $2,646,000
Assessed Ratio: 105.82%
Listing Courtesy: Five Star Realty, Inc.
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All Multi-Family Homes For Sale in Kapalama


Excellent investment opportunity in Honolulu with NOI of 5%, ideal for investors looking to start or expand their real estate portfolio. This income-producing property features eight detached homes (addresses 1039A to 1039H) situated on a large, level 21,290 sq ft lot. The unit mix includes six 2-bedroom, 1-bath homes and two 3-bedroom, 1-bath homes, offering broad rental appeal. Each unit has a separate electric meter, allowing tenants to cover their own utilities and minimizing operating expenses for the owner. Located near Chinatown, Downtown, Lanakila Health Center, shopping centers, and major bus lines, the property benefits from high rental demand and strong occupancy potential. One unit (Unit F) has already been renovated with the opportunity to improve other units over time and boost rental income. This is a cash-flowing asset with long-term appreciation potential. The lot size may also offer future development or expansion potential (buyer to verify). Rarely does a property with this scale, flexibility, and location come to market. Offers are subject to inspection. Please do not disturb tenants or drive by without an appointment. Property to be sold in “As Is” condition.

2 Transaction(s) Found in Sales History
MLS List Date Sold Date List Price Sold Price
220835308/11/200207/03/2003$890,000$740,000
20140501203/24/201406/30/2014$1,870,000$1,738,000

3 Sold Properties Found (Last 12 months)
Description List Date Sold Date List Price Sold Price
0 Bed 0 Bath04/17/202509/12/2025$1,100,000$925,000
0 Bed 0 Bath08/19/202401/03/2025$1,390,000$1,315,000
0 Bed 0 Bath09/22/202404/24/2025$1,980,000$1,938,000
Average Price:  $1,392,667

 
Information is deemed reliable but not guaranteed.
Copyright: 2015 by the HiCentral MLS, Ltd.
 
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use and may not be used for any purpose other than to identify prospective
properties consumers may be interested in purchasing.
 
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Maui Luxury Real Estate, LLC is a real estate brokerage firm licensed to
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