1463 Lusitana Street
Honolulu, HI 96813
$8,350,000
Price
38
Beds
14,593 Sq. Ft.
$572 / Sq. Ft.
14,593
Sq. Ft.
$572
per Sq. Ft.
Description
20-unit fully renovated CMU apartment building in the heart of Honolulu with 20 covered parking stalls! Property is 100% leased and provides excellent, stable cash flow with income/expenses stated being based on in-place leases and budgeted expenses for the year. Property underwent a full renovation in 2021-2022 which included roof re-coating, new fences/security gates as well as a roll-down parking gate. Interior luxury finishes were completed in each unit with new paint, flooring, cabinets, counters,...20-unit fully renovated CMU apartment building in the heart of Honolulu with 20 covered parking stalls! Property is 100% leased and provides excellent, stable cash flow with income/expenses stated being based on in-place leases and budgeted expenses for the year. Property underwent a full renovation in 2021-2022 which included roof re-coating, new fences/security gates as well as a roll-down parking gate. Interior luxury finishes were completed in each unit with new paint, flooring, cabinets, counters, light and plumbing fixtures. This is an extremely rare opportunity to acquire a large, stabilized apartment building in town!
- Listed by Michael M Okamoto • License #RB-22000 • Standard Management LLC • (808) 208-8107
Property Details for 1463 Lusitana Street
View
City
Zoning12 - A-2 Medium Density Apartme
NeighbourhoodPUNCHBOWL-LOWER
Flood ZoneZone X
Stories/Levels4-7
Land TenureFS - Fee Simple
LISTING UPDATED: 09/25/2024 11:27 AM
Property Details for 1463 Lusitana Street
| Status | Active |
|---|---|
| MLS # | 202421815 |
| Days on Market | 87 |
| Taxes | $1,135 / month |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Multi-Family / Multi-Family |
| Year Built | 1974 |
| Lot Size | 0.27 AC / 11,697 SF |
| County | Honolulu County |
Building Information for 1463 Lusitana Street
Stories-Residences20Year Built1974Building Size-Lot Size0.27 AC / 11,697 SF
Property Information for 1463 Lusitana Street
Summary
Location and General Information
- Topography: Level
- City: Honolulu
- County Or Parish: Oahu
- State Or Province: HI
- Location: Inside
Taxes and HOA Information
- Tax Amount: $1,134.67
- Tax Assessed Value: $3,890,300.00
- Tax Assessed Value Improvements: $1,785,500.00
- Tax Assessed Value Land: $2,104,800.00
- Tax Year: 2024
- Parcel Number: 1-2-1-021-016-0000
- HOA YN: No
School Information
- Elementary School: Royal
- High School: Mckinley
- Middle Or Junior School: Keelikolani
Parking
- Parking Features: Assigned, Covered
- Parking Total: 20
- Other Parking Features: None
Property
Lot Information
- Property Frontage: Other
- Property Sub Type: Multi-Family
- Property Type: Multi-Family
- SQFT Building: 14593.0
- Sqft Total: 14593.0
- Land Recorded: Dual Systems
- Lot Features: Other
- Lot Size Area: 11697.0
- Year Built: 1974
- Year Remodeled: 2002
- Building Type: Apartments
Property and Assessments
- Documents: Building Plans, Lease Documents, Other, P&L, Survey, Title Search
- Photo Count: 8
- Property Condition: Excellent
- Special Listing Conditions: None
- Disclosures: 1031 Exchange, Licensed Owner, Pet on Property
- Foreclosure: No
- Set Backs: C&C
- Supplement Count: 0
- TMK Area: 121
- TMK Condo Property Regime Number: 0
- TMK Division: 1
- TMK Parcel: 16
- TMKPLAT: 21
- TMK Section: 1
- TMK Zone: 2
Utilities
- Utilities: Cable, Internet, Overhead Electricity, Public Water, Telephone, Water
- Sewer: Connected
- Utilities Meters: Electric, Individual
Interior and Exterior Features
Exterior Features
- Amenities: A/C
- Construction Materials: Above Ground, Hollow Tile
- Easements: None
- Elevators Number Of: 0
- Recreation Facilities: None
- Roof: Other
Interior Features
- Laundry Facilities: Coin
Multi Family
Multi-Family Information
- Commercial Spaces Number Of: 0
- Studio Units Number Of: 0
- Unit One Number Of Bed: 2
- Unit Three Number Of Bed: 0
- Unit Two Number Of Bed: 18
- Number Of Units Total: 20
Income & Expenses
- Total Annual Operating Expenses: $154,514.00
- Total Income: $556,260.00
- Expenses Include: Excise Tax, Insurance, Mgmt Fee, Other, Property Tax, Repair Maintenance, Sewer Fee
- Net Operating Income: $401,746.00
- Other Income: $4,800.00
Agent
Sale and Listing
- DOM: 75
- Immoviewer: No
- Listing Service: Full Service
- Management Company Name: Standard Management
- Management Company Phone: 808-208-8106
- MLS: HI Central
- MLS Area Major: Metro
- Status: Active
- Public Remarks: 20-unit fully renovated CMU apartment building in the heart of Honolulu with 20 covered parking stalls! Property is 100% leased and provides excellent, stable cash flow with income/expenses stated being based on in-place leases and budgeted expenses for the year. Property underwent a full renovation in 2021-2022 which included roof re-coating, new fences/security gates as well as a roll-down parking gate. Interior luxury finishes were completed in each unit with new paint, flooring, cabinets, counters, light and plumbing fixtures. This is an extremely rare opportunity to acquire a large, stabilized apartment building in town!
- Possession: At Closing
Showing and Remarks
- Showing Instructions: Appointment Only, Call Listor
Rental
Rent Information
- Tenants Responsibilities Include: Electricity
- Total Actual Rent: $41,555.00
Property History for 1463 Lusitana Street
| 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 1463 Lusitana Street
Taxable ValueLand$2,104,800Additions$1,785,500Total$3,890,300
Tax Record2023$13,518 ($1,126 / month)
Home Facts
Total Finished SqFt14,593 SqFtAbove Grade Finished SqFt14,593 SqFtStories4Lot Size11,697 SqFtStyleMulti-Family Res (5+ Units)Year Built1974Year Renovated2002ZoningA-2 APARTMENTCountyHONOLULUAPN1-2-1-021-016
Schools near 1463 Lusitana Street
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 | ||
Princess Ruth Keelikolani Middle School Public6 to 8 | ||
President William Mckinley 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.
Similar Homes
Sorry, we can't find any similar homes at this time. Please check back later.
Similar Sold Homes
Sorry, we can't find any similar sold homes at this time. Please check back later.
Homes for Sale near Punchbowl-Lower
Neighborhoods
Cities
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