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1662 Lewalani Drive, Honolulu, HI 96822
$4,150,000
1662 Lewalani Drive, Honolulu, HI 96822View this property at 1662 Lewalani Drive, Honolulu, HI 96822
1662 Lewalani DriveHonoluluHI96822
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Property Description
100% leased 12-unit apartment building in a well-located part of Makiki. Excellent stabilized cash flow opportunity which is turnkey for an investor. The property underwent a major renovation in 2020 including new quartz countertops, cabinets, vanities, lights, ceiling fans, LVT flooring, interior paint, tiled showers*, stainless steel microwaves and gas ranges/ovens, washer dryers, and low flow water fixtures. In addition, the driveway and parking lot was repaved with new asphalt and concrete in some areas, as well as updated landscaping to the property. Roof re-coated and resealed in 2022! INVESTMENT HIGHLIGHTS - Renovated units with luxury finishes - Excellent unit mix - CMU construction - Large Units - Electricity & Gas are separately metered - All units have their own washer/dryer - 10 on-site parking spaces - In-place 4.9% CAP rate
Full Property Details
Full Property Details for 1662 Lewalani Dr
General
- Sold For: $4,150,000
- Taxes: $8,928 (2023)
- Status: Closed
- Type: Multi-Family
- MLS ID: 202311027
- Added to Site: 348 day(s) ago
Rooms
Other Rooms
- Laundry: Dryer, Individual, Washer
Additional Information
- Amenities: Secured Lobby
- Recreation: None
Parking
- Parking Features: Assigned
- Parking Type: Assigned
- Other Parking Type: None
Location
- Area: Metro
- County: Oahu
- Neighborhood: MAKIKI
School Information
- Elementary School: Lincoln
- Middle School: Stevenson
- High School: Roosevelt
Community
- Mgmt. Company: Standard Management
Utilities
- Sewer: Connected
- Utility Description: Cable, Gas, Internet, Overhead Electricity, Water
- Metering: Electric, Gas, Individual
Structural Information
- Description/Design: Multi-Family
- Exterior Const.: Hollow Tile
- Roof: Composition
- Stories/Levels: 3
- Stories Description: Three
- Square Feet: 7,524
- Year Built: 1966
- Remodeled/Updated: 2002
- Property Condition: Above Average
Unit Information
- 1 Bedroom Units: 6
- 2 Bedroom Units: 6
Lot Features
- Property View: None
- Lot Size (Sq. Ft.): 8,736
- Topography: Gentle Slope, Level
- Lot Features: Clear, Other
- Zoning: 12 - A-2 Medium Density Apartme
- Lot Description: Clear, Other
Financial Considerations
- Expenses: Excise Tax, Insurance, Mgmt Fee, Other, Property Tax, Repair Maintenance, Sewer Fee
- Operating Expenses: $70,628
- Tax Amount: $8,928
- Tax Year: 2023
- Terms: Cash, Conventional, Exchange
- Tenant Pays: Cable TV, Electricity, Gas, Other
Disclosures and Reports
- Buyer’s Brokerage Compensation: 2%
- Ownership: FS - Fee Simple
- Special Conditions: None
- Documents Avail.: Building Plans, Lease Documents, Other, P&L, Survey
- Land Tenure: Fee Simple
- Flood Zone: Zone X
- Disclosures/Reports: Licensed Owner, Listor Owner
- Property ID: 1-2-4-030-033-0000
Listed by Standard Management LLC
Sold by Non-MLS
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Schools
Schools serving 1662 Lewalani Dr
School District:Hawaii Department Of Education
Rating | Name | Grades | Distance |
---|---|---|---|
615 Auwaiolimu St, Honolulu, HI 96813 | K-5 | 0.3 mi | |
1202 Prospect St, Honolulu, HI 96822 | 6-8 | 0.2 mi | |
1120 Nehoa St, Honolulu, HI 96822 | 9-12 | 0.2 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 1662 Lewalani Dr
Date
Details
Price
Change
Source
11/20/2023
Sold
$4,150,000
-5.47%
MLS
5/31/2023
Price Reduced
$4,390,000
-4.46%
MLS
5/17/2023
Listed
$4,595,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
1662 Lewalani Drive, Honolulu, HI 96822 (MLS# 202311027) is a Multi-Family property that was sold at $4,150,000 on November 20, 2023. Want to learn more about 1662 Lewalani Drive? Do you have questions about finding other Multi-Family real estate for sale in Makiki? You can browse all Makiki real estate or contact a Coldwell Banker agent to request more information.