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1128 Alohi Way - Alohi Way 3 Unit Apartment Building Offered at $2,045,250 at a 4.80% Cap Rate Honolulu, HI 96814
Executive Summary
Rare Kakaako multi-dwelling investment opportunity in the Sheridan Tract of the Kakaako Community Development District. Situated on approximately 6,000 sq. ft. of level land, this income-producing property listed at $2,045,250 features 3 separate living areas with approximately 9 bedrooms and 6 bathrooms total, offering multiple income streams and exceptional flexibility for investors, owner-occupants, or those seeking a live-in investment strategy. This 3-unit property includes an upstairs 3-bedroom, 2-bath residence (~1,241 sq. ft.), a downstairs 3-bedroom, 2-bath residence (~1,201 sq. ft.), and an attached 3-bedroom, 2-bath ADU built in 1997 (~1,128 sq. ft.); a 6-car tandem carport, plus additional driveway and street parking. Located near Kakaako, Ward Village, Ala Moana Center, Kaiser Permanente, beaches, dining, shopping, medical facilities, schools, and freeway access, this property benefits from strong rental demand in one of Honolulu's most sought-after urban neighborhoods. POTENTIAL OPPORTUNITY to COMBINE with the neighboring duplex on an additional 6,000 sq. ft. lot, creating approximately 12,000 sq. ft. of contiguous land with future redevelopment potential (Buyer to verify all development possibilities). Photos include the 1st unit of neighboring duplex which is listed at $1,846,000.
Property Facts
Amenities
Unit Amenities
- Air Conditioning
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 9+5 | 3 | $3,700 | 1,190 |
1 1
Exceptionally walkable
100/100
Fairly drivable
50/100
Good public transit
70/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 1-2-3-011-007-0000 | Improvements Assessment | $270,700 |
| Land Assessment | $1,552,500 | Total Assessment | $1,823,200 |
Property Taxes
Parcel Number
1-2-3-011-007-0000
Land Assessment
$1,552,500
Improvements Assessment
$270,700
Total Assessment
$1,823,200
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Videos
Matterport 3D Exterior
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Photos
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Street
Map
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1128 Alohi Way - Alohi Way