1420 Ward Ave
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1420 Ward Ave
9 Unit Apartment Building $2,250,000 ($250,000/Unit) Honolulu, HI 96822
Investment Highlights
- Strong value-add upside—unit interiors consist of laminate countertops, outdated cabinets and appliances.
- Most tenants are month-to-month
- Individual washer hookups
- Rents under market
- Separately metered for electricity
- Central location with very high tenant demand
Executive Summary
PRICE IMPROVEMENT! Prime investment opportunity – proforma 6.26% cap rate! This predominantly concrete, 9-unit multifamily property is excellently located on Ward Avenue 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 savvy 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 subject to 1031 exchange.
Please do not go on the property without the listing agent. Sale subject to 1031 exchange.
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,250,000 | Building Class | C |
| Price Per Unit | $250,000 | Lot Size | 0.13 AC |
| Sale Type | Investment | Building Size | 4,386 SF |
| No. Units | 9 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1960 |
| Property Subtype | Apartment | Parking Ratio | 0.91/1,000 SF |
| Apartment Style | Low Rise |
| Price | $2,250,000 |
| Price Per Unit | $250,000 |
| Sale Type | Investment |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 4,386 SF |
| No. Stories | 2 |
| Year Built | 1960 |
| Parking Ratio | 0.91/1,000 SF |
Unit Amenities
- Microwave
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | $1,300 | - |
| 1+1 | 8 | $1,200 | - |
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Walk Score®
Very Walkable (84)
Transit Score®
Excellent Transit (76)
zoning
| Zoning Code | A-2 (Medium Density Apartment) |
| A-2 (Medium Density Apartment) |
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1420 Ward Ave
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