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MLS: 202615380 (Active - For Sale)
 
Asking Price: $2,680,000 FS - Fee Simple
Type: Multi-Family
District: Metro
Address: 1559 Magazine Street, Honolulu, HI
Neighborhood: Punchbowl Area
Land Area: 4,964 SF
View: Other
Parking: Assigned,Covered
Amenities: A/C
Days on Market: 1
Year Built: 1950
Zoning: 12 - A-2 Medium Density Apartme
Land Recorded: Regular System
Property Taxes: $469
Assessed Value: $1,607,500
Assessed Ratio: 166.72%
Listing Courtesy: Excel Commercial Realty LLC
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All Multi-Family Homes For Sale in Punchbowl Area


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.

5 Transaction(s) Found in Sales History
MLS List Date Sold Date List Price Sold Price
210247703/05/200107/29/2001$399,000$399,000
210248403/05/200107/26/2001$399,000$399,000
20133436510/21/201302/11/2014$1,250,000$1,150,000
20133766012/13/201302/11/2014$1,250,000$1,150,000
20150915106/01/201501/22/2016$1,790,000$1,760,000

 
Information is deemed reliable but not guaranteed.
Copyright: 2015 by the HiCentral MLS, Ltd.
 
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use and may not be used for any purpose other than to identify prospective
properties consumers may be interested in purchasing.
 
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Maui Luxury Real Estate, LLC is a real estate brokerage firm licensed to
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