1818 Anapuni Street Apartments
23 Unit Apartment Complex in the Heart of Honolulu For Sale | Fee Simple
Marketing description
A rare well-maintained investment opportunity in the heart Of makiki. This apartment complex is ideally positioned For strong rental demand and long-term value. Located Just minutes from kapiolani medical center, punahou School, university of hawai‘i at mānoa, waikiki, and major Transit routes, 1818 anapuni street offers both convenience And stability in one of honolulu’s most established Neighborhoods.
The property consists of 23 rental units across 15,480 square Feet of interior space, situated on a 16,207-square-foot lot. Residents enjoy 24 surface parking stalls, a valuable amenity In this central urban location. The building’s layout and site Configuration offer efficient operations and the potential For value-add improvements or redevelopment under Honolulu’s zoning guidelines.
With its central location, ample parking, and proven rental History, this property is ideally suited for investors seeking Steady income and long-term growth in honolulu’s thriving Multifamily market.
Investment highlights
- The recent renovations provide a significant opportunity for the buyer to maximize the property’s appreciation and rental income stream
- Potential to capture additional reimbursements for common area expenses
- Strong potential to offer premium student housing given the proximity to nearby schools and the University of Hawaii Mānoa Campus
- Potential to add 40 units through new construction
- Number of Floors-3/4
- Stabilized Asset The property consistently maintains high occupancy with low turnover and is currently 100% occupied
- Durable CMU Brick Construction The building is constructed of CMU Brick, which is more desirable and long-lasting for investors
- Minimal Capital Expenditure No notable cap-ex is required at this time
- Makiki Location The Property is close to shopping centers, schools, parks, medical facilities, and offers frequent bus service for easy transportation. The surrounding Makiki-Lower Punchbowl-Tantalus neighborhood features scenic mountain views, hiking trails, a local library, and a tight-knit, walkable community with convenient access to downtown Honolulu and Ala Moana Center.
- Parking Availability Offers 24 parking stalls, providing a parking ratio of just over 1:1.
- Recent Capital Expenditures Full renovation of unit interiors, including new flooring, stainless steel appliances, new cabinets and counter tops, updated bathroom showers, and the addition of a new BBQ and picnic area.
- Proven Income Producer Steady occupancy and solid financial performance provide reliable cash flow.
- Rooftop PV System Rooftop photovoltaic system is already in place to reduce operating costs.
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