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404 Magellan Ave
Honolulu, HI 96813
Multifamily Property For Sale
·
9 Units
INVESTMENT HIGHLIGHTS
- Smart Investors Look Here ? $185,400 Income @ 5.7% CAP Rate
EXECUTIVE SUMMARY
Smart Investors Look Here ? $185,400 Income @ 5.7% CAP Rate
Investment Opportunity with Immediate Income Upside – 5.7% CAP Potential!
Prime investment opportunity in the heart of Honolulu! Take ownership of 404 Magellan Ave, a solid 9-unit property offering exceptional upside and flexibility. With 9 separate electric meters, 9 gas meters, and individual gas water heaters, tenants enjoy full independence—minimizing ownership costs and simplifying management.
Upon acquisition, new ownership can provide 45 days’ notice to tenants and adjust rents to current market levels, bringing the property to an estimated +7% CAP rate. Light remodeling or upgrades could further boost returns and property value.
Located near schools, shopping, and major transit routes, this is a rare opportunity to step into immediate cash flow with significant rent growth potential in one of Honolulu’s most desirable rental markets.
Investment Opportunity with Immediate Income Upside – 5.7% CAP Potential!
Prime investment opportunity in the heart of Honolulu! Take ownership of 404 Magellan Ave, a solid 9-unit property offering exceptional upside and flexibility. With 9 separate electric meters, 9 gas meters, and individual gas water heaters, tenants enjoy full independence—minimizing ownership costs and simplifying management.
Upon acquisition, new ownership can provide 45 days’ notice to tenants and adjust rents to current market levels, bringing the property to an estimated +7% CAP rate. Light remodeling or upgrades could further boost returns and property value.
Located near schools, shopping, and major transit routes, this is a rare opportunity to step into immediate cash flow with significant rent growth potential in one of Honolulu’s most desirable rental markets.
PROPERTY FACTS
| Price Per Unit | $255,556 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.12 AC |
| No. Units | 9 | Building Size | 3,978 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1948 |
| Apartment Style | Low-Rise | Parking Ratio | 2.26/1,000 SF |
| Zoning | A-2 | ||
| Price Per Unit | $255,556 |
| Sale Type | Investment |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 3,978 SF |
| No. Stories | 3 |
| Year Built | 1948 |
| Parking Ratio | 2.26/1,000 SF |
| Zoning | A-2 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 9 | - | - |
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