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MLS: 202604529 (Active - For Sale)
 
Asking Price: $1,695,000 FS - Fee Simple
Type: Multi-Family
District: Metro
Address: 1156 Alewa Drive, Honolulu, HI
Neighborhood: Alewa Heights
Land Area: 8,052 SF
View: City,Diamond Head,Ocean
Parking: Covered,Open,Tandem
Amenities: Storage
Days on Market: 25
Year Built: 1939
Easements: Other
Zoning: 05 - R-5 Residential District
Land Recorded: Regular System
Property Taxes: $372
Assessed Value: $1,315,300
Assessed Ratio: 128.87%
Listing Courtesy: REMAX Hawaii
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All Multi-Family Homes For Sale in Alewa Heights


An extremely attractive residential offering to acquire 3 detached dwellings, all located on a single parcel in Honolulu. The property offers stable cash flow combined with low maintenance costs and strong appreciation potential. 2025 renovations make this offering ideal for 1031 exchange or investors seeking stable NOI and low operating costs. 2 rental units provide immediate income of $5,750/mo. incl. GET plus potential income of $3,400/mo. incl. GET from the 3rd home for a total of $9,150/mo. in income. A rare multi-family investment with high rental demand and reduced management intensity compared to larger multi-family properties. Each house offers 2 bedrooms and 1 bathroom, separate electric meter, small private yard, remodeled kitchen with new appliances and flooring. Gently sloped parcel in a desirable neighborhood, located close to schools and restaurants, with views of the ocean, downtown Honolulu, and Diamond Head. The roofs are in good condition, with newer exterior storage and a covered carport. Please contact Listor for showing and do not disturb tenants or park in driveway. A few photos have been virtually staged(enhanced).

1 Transaction(s) Found in Sales History
MLS List Date Sold Date List Price Sold Price
20250577802/28/202505/05/2025$1,498,000$1,428,500

 
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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
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