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437 Namahana Street, Honolulu, HI, 96815
Multi-dwelling in Waikiki
$4,000,000Est. $21,881/mo
  • Active Actively looking for buyers.
  • Fee SimpleYou own the property outright.
  • 137 daysListed 07/09. Last updated 09/07.
  • Built in 1966Built 58 years ago.
Shay Kusumoto

Shayna Kusumoto

Compass | RS-85783
Message Shay about this property

What this multi-dwelling offers

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.

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Where you'll live

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437 Namahana Street, Honolulu, HI, 96815 is located in Waikiki on Oahu.

More about this multi-dwelling

  • Tax ID 1-2-6-016-055-0000
  • Taxes$592/mo
  • HOA Fee: n/a
  • Virtual Tour Watch Video
  • Property Type Multi-dwelling
  • Tenure Fee Simple
  • Construction Hollow Tile
  • Roof Composition
  • Year Built 1966
  • Lot Size 4,500 sqft
  • Views None
  • Parking Covered
  • Elementary Ala Wai
  • Middle Washington
  • High Mckinley
About WaikikiOpen and close this section

On the south shore of Honolulu lies the iconic neighborhood of Waikiki. Waikiki is filled with hotels, condos, and condo hotels. It's one of the only locations on Oahu that short-term vacation rentals can legally be operated. The majority of people staying in Waikiki are visitors, but for those who live there, 63% rent and 37% own. View all homes for sale in Waikiki.

Listing courtesy of Michael M Okamoto from Standard Management LLC, MLS #202415757. Contact: (808) 208-8107.

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The most recently sold Multi-Family Homes with bedroom(s) nearest to 437 Namahana Street and sorted by date, then price.

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07/07/2023 448 Kaiolu Street $3,205,000 70 6,241
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07/08/2024 767 D Paani Street $1,230,000 172 5,000
11/09/2023 2014 Fern Street $2,300,000 79 6,400
10/05/2023 743 Pumehana Street $1,480,000 146 5,000
11/21/2024 726 Hausten Street $1,710,000 114 5,851
12/22/2023 813 Coolidge Street $2,700,000 35 6,800
02/09/2024 1749 Fern Street $1,900,000 38 4,540