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437 Namahana Street, Honolulu, HI 96815
1 min walk to King Kalakaua Park
13 min walk to Duke Paoa Kahanamoku Beach Park
27 min walk to Ala Wai Golf Course
22 min walk to The Wall
12 min walk to Three's
About lifestyles
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.
Read more
Multi-family details
1966 year built
- Year Built 1966
- Original list price $4,000,000
- Days on market 131
- Building type Apartments
- Price per sqft $659/sqft
-
Address
437 Namahana Street, Honolulu, HI, 96815
- Frontage Other
- Neighborhood Waikiki
- Land tenure FS - Fee Simple
- Land SqFt 4,500 sqft
- View None
- Virtual Tour View (external link)
Open Houses
No upcoming open houses
Monthly payment
Calculate your monthly payments
Mortgage
$20,395
Taxes
$592
HOA dues
$400
Mortgage
Down payment
$800,000 / 20%
Interest rate
6.58%
Loan type
30 years
Your amount
$20,395 / month
Neighborhood: Waikiki
Nearby & commute
Walkability
Coffee shops
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no data
Bus stop
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no data
Supermarket
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no data
Costco
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no data
Hospital
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no data
Park
—
no data
Beach
—
no data
Elementary school
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no data
Middle school
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no data
High school
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no data
Local airport
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no data
16.67 / 20
Very walkable
►
18-20
Most Walkable
15-18
Very walkable
10-15
Somewhat walkable
1-10
Car dependent
Walkability according to the National Walkability Index
Unit Information
12 total units
# of 1 Bd
12
# of 2 Bd
0
# of 3 Bd
0
Total Units
12
Amenities & Features
6 parking places
Stories
Three
Roof
Composition
Construction
Hollow Tile
Utilities
Cable, Internet, Overhead Electricity, Public Water
Property Condition
Average
Parking
Covered
nr.of parking places
6
Amenities
None
Income
Net Operating Income: $145,514
Total Actual Rent
$176,400
Total Annual Operating Expenses
$40,486
Total Income
$186,000
Net Operating Income
$145,514
Waikiki prices
No information about average prices in this area
Street median sales price*
$676.25k
*last 6 months
About Waikiki
Waikiki Condos & neighborhood info When it comes to finding a home in a lively, picturesque setting, it's hard to beat the allure of Waikiki condos. Situated along the stunning shores of Oahu, Waikiki is a bustling neighborhood in Honolulu that boasts Read more
Schools
15 schools with rating up to 8
| School rating | Distance | |
|---|---|---|
| out of 10 |
Ala Wai Elementary School
503 Kamoku St,
Honolulu, HI 96826
Elementary School
|
0.209mi |
|
Iolani School
563 Kamoku St,
Honolulu, HI 96826
Middle School
|
0.416mi | |
|
Iolani School
563 Kamoku St,
Honolulu, HI 96826
High School
|
0.416mi |
| School rating | Distance | |
|---|---|---|
| out of 10 |
Ala Wai Elementary School
503 Kamoku St,
Honolulu, HI 96826
|
0.209mi |
|
Iolani School
563 Kamoku St,
Honolulu, HI 96826
|
0.416mi | |
| out of 10 |
King William Lunalilo Elementary School
810 Pumehana St,
Honolulu, HI 96826
|
0.559mi |
| out of 10 |
Prince Jonah Kuhio Elementary School
2759 South King St,
Honolulu, HI 96826
|
0.744mi |
|
Our Redeemer Lutheran School
2428 Wilder Avenue,
Honolulu, HI 96822
|
0.916mi |
| School rating | Distance | |
|---|---|---|
|
Iolani School
563 Kamoku St,
Honolulu, HI 96826
|
0.416mi | |
|
Varsity International School
2617 South King St., 3-D,
Honolulu, HI 96826
|
0.747mi | |
| out of 10 |
President George Washington Middle School
1633 South King St,
Honolulu, HI 96826
|
0.876mi |
|
Our Redeemer Lutheran School
2428 Wilder Avenue,
Honolulu, HI 96822
|
0.916mi | |
| out of 10 |
Education Laboratory Public Charter School
1776 University Ave,
Honolulu, HI 96822
|
1.075mi |
| School rating | Distance | |
|---|---|---|
|
Iolani School
563 Kamoku St,
Honolulu, HI 96826
|
0.416mi | |
|
Varsity International School
2617 South King St., 3-D,
Honolulu, HI 96826
|
0.747mi | |
| out of 10 |
Kaimuki High School
2705 Kaimuki Ave,
Honolulu, HI 96816
|
0.896mi |
|
Lutheran High School Of Hawaii
1404 University Avenue,
Honolulu, HI 96822
|
0.958mi | |
| out of 10 |
Education Laboratory Public Charter School
1776 University Ave,
Honolulu, HI 96822
|
1.075mi |
School ratings provided by Greatschools.org
© 2023. All rights reserved.
Price history
New Listing Jul 9, 2024
| Date | Event | Price | $/sqft | Source |
|---|---|---|---|---|
| Jul 9, 2024 | New Listing | $4,000,000 | $659.30 | MLS #202415757 |
Tax & MLS details 437 Namahana Street, Honolulu, HI, 96815
X2 - Apartment Precinct zoning / MLS #202415757
Current Property Taxes p/month
$592
Property Tax Year
2024
Assessed Improvement value
$342,400
Assessed Land value
$1,688,100
TMK
1-2-6-016-055-0000
Land Recorded
Land Court
Zoning
X2 - Apartment Precinct
Flood Zone
Zone AO
Topography
Level
Location
Other
Lot Description
Other
Property Setbacks
Of Record
Lease expiration
2025-01-01
Monthly lease payment
$400
Total Assessed value
$2,030,500
Listed by
Standard Management LLC
(808) 208-8107
(808) 208-8107
MLS #
202415757
Hawaii House tour report for this multi-family home
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Stunning views
Ocean views
Open floorplan
Needs Work
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Recently sold nearby 437 Namahana Street in Waikiki
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Frequently asked questions for 437 Namahana Street
When was this multi-family home built and last sold?
This house was build in 1966.
What is the full address of this multi-family home?
437 Namahana Street, Honolulu, HI, 96815.
Are there beaches near 437 Namahana Street?
The nearest beach is 0.531 miles away, called Duke Paoa Kahanamoku Beach Park. It should take about 13 min walk.
Based on information from the Multiple Listing Service of HiCentral MLS, Ltd. Copyright 2024 by HiCentral Mls, Ltd. Listing courtesy of Standard Management LLC. Some active listings appearing on this site may be listed by other REALTORS®. If you are interested in those active listings, our company may represent you as the buyer's agent. If the active listing you are interested in is our company's active listing, you may speak to one of our agents regarding your options for representation. Hawaii House Inc. is a real estate brokerage firm licensed to conduct business in the State of Hawaii. Information deemed reliable, but not guaranteed.
Listings last updated on September 16, 2024.
Hawaii House Last checked 1 minute ago.
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