743 Pumehana St
Honolulu, HI 96826
Sold Price
$1,480,000 (FS)
List Price
$1,200,000 (FS)
- Property Type:
- Multi-Family
- Studio Units:
- 0
- 1-Bed Units:
- 0
- 2-Bed Units:
- 8
- 3-Bed Units:
- 0
- Land Area (sf):
- 5,000
- Living (sf):
- --
- Lanai (sf):
- --
- Other (sf):
- --
- Parking Stalls:
- 4 - Unassigned
- MLS #:
- 202310461
- Island:
- Oahu
- Region:
- Metro Oahu
- Neighborhood:
- MCCULLY
- TMK:
- 1-2-3-033-010-0000
- List Date:
- Date Sold:
REMARKS:
Rare investment opportunity! Offered below assessed value. A-2 Zoned apartment building in the heart of Honolulu on a 5000 SF Level lot with 8 separate electrical meters. Super convenient and desirable location only minutes to Waikiki, Ala Moana, UH and just a stones throw to McCully Shopping Center where you'll find ample eateries and dining options. Property consists of two, 2-story dwellings with a total of 8 units, all 2 bed/1 bath. The new owner can take over the tenants and continue to enjoy a steady 4.5% CAP rate, upgrade the existing units to increase the revenue or explore the option to redevelop affordable rental units under Bill 7 to maximize the property's highest and best use. Current income may not measure the building's full occupancy potential or current market rates. Property is being sold Strictly As-Is, the two structures have deferred maintenance and are ready to be renovated or rebuilt. Priced at land value, buyers to conduct their own due diligence. Please do not disturb tenants. Act quickly, don't miss out on your chance to own an amazing investment in an unbeatable area!
PROPERTY INFORMATION:
- Zoning:
- 12 - A-2 Medium Density Apartme
- Furnished:
- --
- Year Built:
- 1931
- Year Remodeled:
- --
FINANCIAL INFORMATION:
- Assd. Val. Land:
- $1,225,000
- Assd. Val. Imprv:
- $131,600
- Assd. Val. Total:
- $1,356,600
- Tax Year:
- 2023
- Monthly Taxes:
- $396
- Home Exempt.:
- --
SCHOOLS:
- Elem. School:
- --
- Middle School:
- --
- High School:
- --
OTHER PROPERTY FEATURES:
- Frontage:
- --
- View:
- None
- Pool:
- --
- Amenities:
- None
- Inclusions:
- --
- Security:
- --
- Assn. Fee Inclusions:
- --
- Other Fee Inclusions:
- --
- Lot Description:
- Clear
- Topography:
- Level
- Number of Stories:
- Two
- Building Style:
- --
- Property Condition:
- Fair, Needs Major Repair
- Construction:
- Above Ground, Single Wall, Slab
- Roofing:
- Asphalt Shingle
- Floor Covering:
- --
- Disclosures:
- Property Disclosure Stmt
- Possession:
- At Closing
- Terms Accept.:
- Cash
- Land Recorded:
- Land Court
- Exclusions:
- --
- Easements:
- None
- Set-Backs:
- C&C
- Compensation*:
- 2.5
- Compensation Type:
- --
* The offer of compensation to cooperating brokers is made only to the Participants and MLS Subscribers of HICMLS or Participants and MLS Subscribers of other Reciprocating
Boards as set forth in that certain Multiple Listing Service Reciprocal Agreement, as amended from time to time, which is incorporated herein by reference.
Based on information from the Multiple Listing Service of HiCentral MLS, Ltd. listings last updated on Friday, May 3, 2024. Information is deemed
reliable but not guaranteed. Copyright: 2024 by HiCentral MLS, Ltd. Listing courtesy of Keller Williams Honolulu