1420 Ward Avenue
Honolulu, HI 96813
$2,250,000
Price
8
Beds
4,386 Sq. Ft.
$513 / Sq. Ft.
4,386
Sq. Ft.
$513
per Sq. Ft.
Description
Price improvement! Prime investment opportunity - proforma 6.26% cap rate! This predominantly concrete 9-unit multifamily property is excellently located on Ward Ave. in the heart of Punchbowl. Unbeatable convenience with immediate access to H1 in both directions and a short distance to the vibrant dining and shopping hubs of Kakaako and Ala Moana Shopping Center. Downtown Honolulu is just 1.5 miles away. This property has under-market rents and month-to-month tenants, offering significant upside...Price improvement! Prime investment opportunity - proforma 6.26% cap rate! This predominantly concrete 9-unit multifamily property is excellently located on Ward Ave. in the heart of Punchbowl. Unbeatable convenience with immediate access to H1 in both directions and a short distance to the vibrant dining and shopping hubs of Kakaako and Ala Moana Shopping Center. Downtown Honolulu is just 1.5 miles away. This property has under-market rents and month-to-month tenants, offering significant upside potential. Units are in classic condition, allowing a new owner to complete a value-add campaign and boost returns even further. The property includes a spacious, fenced grassy area in the back and an area for a community garden between the buildings. Individually metered for electricity and eligible for Bill 7 development. Please do not go on the property without the listing agent. Sale is subject to 1031 exchange.
- Listed by Michael M Okamoto • License #RB-22000 • Standard Management LLC • (808) 208-8107
Property Details for 1420 Ward Avenue
View
Coastline
Zoning12 - A-2 Medium Density Apartme
NeighbourhoodPUNCHBOWL-LOWER
Flood ZoneZone X
Stories/LevelsTwo, Three
Land TenureFS - Fee Simple
LISTING UPDATED: 11/04/2024 03:07 PM
Property Details for 1420 Ward Avenue
| Status | Active |
|---|---|
| MLS # | 202421951 |
| Days on Market | 64 |
| Taxes | $412 / month |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Multi-Family / Multi-Family |
| Year Built | 1957 |
| Lot Size | 0.13 AC / 5,515 SF |
| County | Honolulu County |
Building Information for 1420 Ward Avenue
Stories-Residences9Year Built1957Building Size-Lot Size0.13 AC / 5,515 SF
Property Information for 1420 Ward Avenue
Summary
Location and General Information
- Topography: Gentle Slope
- City: Honolulu
- County Or Parish: Oahu
- State Or Province: HI
Taxes and HOA Information
- Tax Amount: $412.00
- Tax Assessed Value: $1,412,600.00
- Tax Assessed Value Improvements: $281,500.00
- Tax Assessed Value Land: $1,131,100.00
- Tax Year: 2024
- Parcel Number: 1-2-1-039-036-0000
- HOA YN: No
School Information
- Elementary School: Royal
- High School: Roosevelt
- Middle Or Junior School: Stevenson
Parking
- Parking Features: Assigned, Covered
- Parking Total: 5
- Other Parking Features: None
Property
Lot Information
- Property Sub Type: Multi-Family
- Property Type: Multi-Family
- SQFT Building: 4386.0
- Sqft Total: 4386.0
- Land Recorded: Regular System
- Lot Features: Other
- Lot Size Area: 5515.0
- Year Built: 1957
- Building Type: Apartments
Property and Assessments
- Documents: Title Search
- Photo Count: 25
- Property Condition: Average
- Special Listing Conditions: Subject To Repl. Property
- Disclosures: Call Listor
- Foreclosure: No
- Set Backs: Of Record
- Supplement Count: 1
- TMK Area: 121
- TMK Condo Property Regime Number: 0
- TMK Division: 1
- TMK Parcel: 36
- TMKPLAT: 39
- TMK Section: 1
- TMK Zone: 2
- Secondary Dwelling: None
Utilities
- Utilities: Overhead Electricity, Sewer Fee, Water
- Sewer: Connected
- Utilities Meters: Electric, Water
Interior and Exterior Features
Exterior Features
- Amenities: None
- Construction Materials: Concrete, Hollow Tile, Wood Frame
- Easements: None
- Elevators Number Of: 0
- Recreation Facilities: None
- Roof: Asphalt Shingle, Other
Interior Features
- Laundry Facilities: Other, Washer
Multi Family
Multi-Family Information
- Commercial Spaces Number Of: 0
- Studio Units Number Of: 1
- Unit One Number Of Bed: 8
- Unit Three Number Of Bed: 0
- Unit Two Number Of Bed: 0
- Number Of Units Total: 9
Income & Expenses
- Total Annual Operating Expenses: $37,500.00
- Total Income: $111,834.00
- Expenses Include: Excise Tax, Insurance, Mgmt Fee, Other, Property Tax, Repair Maintenance
- Net Operating Income: $74,258.00
- Other Income: $475.00
Agent
Sale and Listing
- DOM: 35
- Listing Service: Full Service
- MLS: HI Central
- MLS Area Major: Metro
- Status: Active
- Public Remarks: PRICE IMPROVEMENT! Prime investment opportunity - proforma 6.26% cap rate! This predominantly concrete 9-unit multifamily property is excellently located on Ward Ave. in the heart of Punchbowl. Unbeatable convenience with immediate access to H1 in both directions and a short distance to the vibrant dining and shopping hubs of Kakaako and Ala Moana Shopping Center. Downtown Honolulu is just 1.5 miles away. This property has under-market rents and month-to-month tenants, offering significant upside potential. Units are in classic condition, allowing a new owner to complete a value-add campaign and boost returns even further. The property includes a spacious, fenced grassy area in the back and an area for a community garden between the buildings. Individually metered for electricity and eligible for Bill 7 development. Please do not go on the property without the listing agent. Sale is subject to 1031 exchange.
- Possession: At Closing
Showing and Remarks
- Showing Instructions: Appointment Only, Call Listor, Listor Must Be Present
Rental
Rent Information
- Tenants Responsibilities Include: Electricity, Parking
- Total Actual Rent: $9,025.00
Property History for 1420 Ward Avenue
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1420 Ward Avenue
Taxable ValueLand$1,131,100Additions$281,500Total$1,412,600
Tax Record2023$4,937 ($411 / month)
Home Facts
Total Finished SqFt2,618 SqFtAbove Grade Finished SqFt2,618 SqFtStories3Lot Size5,515 SqFtStyleMulti-Family Res (5+ Units)Year Built1960ZoningA-2 APARTMENTCountyHONOLULUAPN1-2-1-039-036
Schools near 1420 Ward Avenue
This home is within Hawaii Department Of Education.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Charter - | K to 12 |
Rating | School | Distance |
|---|---|---|
Royal Elementary School PublicPK to 5 | ||
Robert Louis Stevenson Middle School Public6 to 8 | ||
President Theodore Roosevelt High School Public9 to 12 | ||
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.
Listing Courtesy of Standard Management LLC, Michael M Okamoto, License #RB-22000