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Sale Pending
MLS: 202310461
Asking Price: $1,200,000 FS - Fee Simple
Type: Multi-Family
District: Metro
Address: 743 Pumehana Street, Honolulu, HI
Neighborhood: Mccully
Land Area: 5,000 SF
Parking: Unassigned
Days on Market: 134
Year Built: 1931
Zoning: 12 - A-2 Medium Density Apartme
Land Recorded: Land Court
Property Taxes: $396
Assessed Value: $1,356,600
Assessed Ratio: 88.46%
Listing Courtesy: Keller Williams Honolulu
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All Multi-Family Homes For Sale in Mccully

Rare investment opportunity! Offered below assessed value. A-2 Zoned apartment building in the heart of Honolulu on a 5000 SF Level lot with 8 separate electrical meters. Super convenient and desirable location only minutes to Waikiki, Ala Moana, UH and just a stones throw to McCully Shopping Center where you'll find ample eateries and dining options. Property consists of two, 2-story dwellings with a total of 8 units, all 2 bed/1 bath. The new owner can take over the tenants and continue to enjoy a steady 4.5% CAP rate, upgrade the existing units to increase the revenue or explore the option to redevelop affordable rental units under Bill 7 to maximize the property's highest and best use. Current income may not measure the building's full occupancy potential or current market rates. Property is being sold Strictly As-Is, the two structures have deferred maintenance and are ready to be renovated or rebuilt. Priced at land value, buyers to conduct their own due diligence. Please do not disturb tenants. Act quickly, don't miss out on your chance to own an amazing investment in an unbeatable area!

2 Sold Properties Found (Last 12 months)
Description List Date Sold Date List Price Sold Price
0 Bed 0 Bath08/24/202211/15/2022$1,650,000$1,575,000
0 Bed 0 Bath11/07/202202/09/2023$5,800,000$5,500,000
Average Price:  $3,537,500

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