1559 Magazine Street,Honolulu, HI 96822
Honolulu, HI 96822
Description
An exceptional investment opportunity to acquire a well-maintained 5-unit multifamily property in the desirable Punchbowl neighborhood of Honolulu. The property features a diverse unit mix consisting of one studio, one 1-bedroom/1-bathroom, one 2-bedroom/1-bathroom, one 3-bedroom/2bathroom, and one 4-bedroom/2-bathroom unit, along with five covered garage parking stalls. Designed for operational efficiency, all units except the Studio & 1bd/1ba units are separately metered for electricity, making the property easy to self-manage while helping minimize operating expenses. The asset generates strong in-place cash flow with an annual Net Operating Income (NOI) of approximately $110,243. Ideally located just minutes from Downtown Honolulu, Queen’s Medical Center, Kaka'ako, Ala Moana, the University of Hawai'i at Manoa, Roosevelt High School, and Punahou School, the property offers convenient access to major employment centers, shopping, dining, healthcare, and education. This is a rare opportunity for investors seeking a stable, income-producing asset in one of Honolulu’s most centrally located neighborhoods.
Details
| MLS # | 202615380 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1950 |
| Days On Site | 12 |
| Listing Provided By | Excel Commercial Realty LLC | Kynan Pang |
Features
| SQ Feet | 3,509 |
|---|---|
| Units | 5 |
| Zoning | 12 - A-2 Medium Density Apartme |
| Property View | Other |
Exterior
| Construction Materials | Double Wall |
|---|
Taxes
| Property | 5628 |
|---|
Area Information
| State | HI |
|---|---|
| County | Oahu |
| City | Honolulu |
| Zip Code | 96822 |
| Area | Oahu |
| Community Name | PUNCHBOWL AREA |
| School District | Roosevelt |
| Elementary School | Lincoln |
| High School | Roosevelt |
| Listing VS Median (in PUNCHBOWL AREA) | |
Price: $2,680,000 low | high Med: $425,000 sqft: 3,509 low | high Med: 757 $ / sqft: $764 low | high Med: $563 On site: 12 low | high Med: 28.5 | |
Market Activity 96822
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Learn More About This Property
| State | HI |
|---|---|
| County | Oahu |
| City | Honolulu |
| Zip Code | 96822 |
| Area | Oahu |
| Community Name | PUNCHBOWL AREA |
| School District | Roosevelt |
| Elementary School | Lincoln |
| High School | Roosevelt |
| Listing VS Median (in PUNCHBOWL AREA) | |
Price: $2,680,000 low | high Med: $425,000 sqft: 3,509 low | high Med: 757 $ / sqft: $764 low | high Med: $563 On site: 12 low | high Med: 28.5 | |