Multi-Unit Investment Opportunity in Prime Punchbowl Location with beautiful ocean, sunset, mountain, and city views from the balcony! A rare find in the Punchbowl area! This versatile property features two separate structures with a total of five units, offering an incredible investment opportunity. With four units currently generating $5,650 in monthly rental income, potentially $9650 with 5th rental unit for even more revenue! The property includes a carport for three vehicles, copper piping in the main unit, and a highly desirable location with proximity to UH Manoa, HPU, community colleges, hospitals, downtown, and major conveniences. Investor-friendly and tenant-occupied—please allow 48-hour notice for showings. Do not disturb tenants. Don’t miss this chance to own a fantastic income-producing property in a prime Honolulu location!
Active
Price cut: $50K (6/18)
$1,549,000
1578 Pele St, Honolulu, HI 96813
--beds
0baths
3,634sqft
Multi Family
Built in 1956
-- sqft lot
$1,509,200 Zestimate®
$426/sqft
$-- HOA
What's special
Carport for three vehicles
- 141 days |
- 250 |
- 9 |
Zillow last checked:
Listing updated:
Listed by:
Beverly Taira 808-292-6482,
Coldwell Banker Island Prop,
Charles L Chow 808-387-5289,
Coldwell Banker Island Prop
Source: HiCentral MLS,MLS#: 202607167
Facts & features
Interior
Bedrooms & bathrooms
- Bathrooms: 0
Cooling
- Central Air
Appliances
- Included: Dryer, Washer
- Laundry: Coin-operated
Interior area
- Total structure area: 3,634
- Total interior livable area: 3,634 sqft
Property
Parking
- Total spaces: 3
- Parking features: Covered, Unassigned
Features
- Levels: Two
- Stories: 2
- Has view: Yes
- View description: City, Mountain(s), Ocean, Sunset
- Has water view: Yes
- Water view: Ocean
- Frontage type: Other
Lot
- Features: Corner Lot, Other
- Topography: Sloping
Details
- Parcel number: 1220030170000
- Zoning description: 07 - R-3.5 Residential District
- Special conditions: None
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Other, Single Wall, Wood Frame
Condition
- Average Condition
- Year built: 1956
- Major remodel year: 2026
Utilities & green energy
- Sewer: Connected
- Water: Public
- Utilities for property: Above Ground Utilities, Cable Available, Electricity Available, High Speed Internet Available, Phone Available, Sewer Available, Water Available, Sewer Connected
Community & HOA
Community
- Features: None
- Subdivision: Punchbowl Area
Location
- Region: Honolulu
Financial & listing details
- Price per square foot: $426/sqft
- Tax assessed value: $1,428,300
- Annual tax amount: $7,634
- Date on market: 4/8/2026
- Total actual rent: 5650
- Tenant pays: Air Conditioning, Cable TV, Electricity, Other, Water
Estimated market value
$1,509,200
$1.43M - $1.58M
$2,187/mo
Price history
| Date | Event | Price |
|---|---|---|
| 6/18/2026 | Price change | $1,549,000-3.1%$426/sqft |
Source:  HiCentral MLS #202607167 Report a problem | ||
| 4/9/2026 | Listed for sale | $1,599,000$440/sqft |
Source: HiCentral MLS #202607167 Report a problem | ||
| 9/12/2025 | Listing removed | $1,599,000$440/sqft |
Source: HiCentral MLS #202507013 Report a problem | ||
| 8/22/2025 | Price change | $1,599,000-3%$440/sqft |
Source: HiCentral MLS #202507013 Report a problem | ||
| 5/2/2025 | Price change | $1,649,000-2.7%$454/sqft |
Source: HiCentral MLS #202507013 Report a problem | ||
| 4/18/2025 | Price change | $1,695,000-0.3%$466/sqft |
Source: HiCentral MLS #202507013 Report a problem | ||
| 3/17/2025 | Listed for sale | $1,700,000$468/sqft |
Source: HiCentral MLS #202507013 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2026 | -- | $1,428,300 +8.3% |
| 2025 | $7,634 -8.2% | $1,318,800 -4.3% |
| 2024 | $8,317 -10.1% | $1,378,700 -5.6% |
| 2023 | $9,252 +173.9% | $1,460,700 +51.4% |
| 2022 | $3,378 +0.1% | $965,000 +0.1% |
| 2021 | $3,375 -25.2% | $964,200 -3.7% |
| 2020 | $4,509 +31.8% | $1,000,900 +2.4% |
| 2019 | $3,422 +21% | $977,600 +5.4% |
| 2018 | $2,827 -4.2% | $927,700 -3.7% |
| 2017 | $2,951 +17.7% | $963,000 +15.1% |
| 2016 | $2,507 +5.5% | $836,400 +4.7% |
| 2015 | $2,376 | $798,900 +3.6% |
| 2014 | -- | $771,100 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: Punchbowl
Nearby schools
GreatSchools rating
- 5/10Royal Elementary SchoolGrades: PK-5Distance: 0.2 mi
- 6/10Prince David Kawananakoa Middle SchoolGrades: 6-8Distance: 0.6 mi
- 8/10President Theodore Roosevelt High SchoolGrades: 9-12Distance: 0.9 mi
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A local agent can set up tours, give advice and negotiate with sellers.
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