437 Namahana St
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437 Namahana St
12 Unit Block of Flats £3,156,000 (£263,000/Unit) Honolulu, HI 96815
Investment Highlights
- 6 on-site parking stalls with additional street parking in the area
- Secured and gated property
- Extremely supply-constrained submarket with virtually no land available for development
- Well-maintained property could be kept as is or renovated to add additional value and further increase rents
- On-site coin operated laundry
- Located in a strong rental market within Honolulu which has experienced 27% growth in rents over the past 5 years
Executive Summary
Unique opportunity to acquire fee simple ownership of a strategically located parcel of land in Waikiki which is improved with a 12-unit apartment building and 6 parking stalls. This prime property is currently near the end of the ground lease term, which is set to expire on January 1, 2025, presenting an investor the rare chance to own a fee simple apartment building in Waikiki. This distinguished property features a well-maintained, fully leased 12-unit apartment building, generating steady rental income. The approaching expiration of the ground lease provides a timely opportunity for investors to unlock further value through redevelopment or enhancement of the existing improvements. Ideal for investors looking to capitalize on the ground lease expiration, this property offers significant value-add opportunities. By renovating the apartment building and adjusting rents to market rates, investors can maximize returns and enhance the property’s overall value.
DO NOT DISTURB TENANTS - TOURS WILL ONLY BE COORDINATED UPON RECEIPT OF AN ACCEPTED OFFER.
PLEASE CONTACT THE LISTING AGENT FOR PHOTOS OF THE EXTERIOR OF THE PROPERTY AND INTERIOR OF EACH UNIT, FOR AN IDEA OF THE CONDITION OF THE PROPERTY.
DO NOT DISTURB TENANTS - TOURS WILL ONLY BE COORDINATED UPON RECEIPT OF AN ACCEPTED OFFER.
PLEASE CONTACT THE LISTING AGENT FOR PHOTOS OF THE EXTERIOR OF THE PROPERTY AND INTERIOR OF EACH UNIT, FOR AN IDEA OF THE CONDITION OF THE PROPERTY.
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | £3,156,000 | Building Class | C |
| Price Per Unit | £263,000 | Lot Size | 0.10 AC |
| Sale Type | Investment | Building Size | 6,067 SF |
| No. Units | 12 | Number of Floors | 3 |
| Property Type | Residential | Year Built | 1966 |
| Property Subtype | Apartment | Parking Ratio | 0.99/1,000 SF |
| Apartment Style | Low Rise |
| Price | £3,156,000 |
| Price Per Unit | £263,000 |
| Sale Type | Investment |
| No. Units | 12 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 6,067 SF |
| Number of Floors | 3 |
| Year Built | 1966 |
| Parking Ratio | 0.99/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 12 | - | 434 |
Walk Score ®
Very Walkable (88)
Bike Score ®
Biker's Paradise (91)
zoning
| Zoning Code | APART (Apartment Precinct - Waikiki Special District) |
| APART (Apartment Precinct - Waikiki Special District) |
-
Matt Raff -
Standard Commercial LLC
1 of 88
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437 Namahana St
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