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
Closed
$4,150,000
1662 Lewalani Dr, Honolulu, HI 96822
--beds
0baths
7,524sqft
Multi Family
Built in 1966
-- sqft lot
$4,152,500 Zestimate®
$552/sqft
$2,032 Estimated rent
Home value
$4,152,500
$3.61M - $4.69M
$2,032/mo
Zestimate® history
Owner options
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$2,032/mo
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$2,032/mo
Rent Zestimate®
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$18,513/mo
Est. payment
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$18,513/mo
Est. payment
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Zillow last checked:
Listing updated:
Listed by:
Clint B Crawford 808-832-6016,
Standard Management LLC
Bought with:
NON MLS
Non-MLS
Source: HiCentral MLS,MLS#: 202311027
Facts & features
Interior
Bedrooms & bathrooms
- Bathrooms: 0
Appliances
- Included: Dryer, Washer
- Laundry: In Unit
Interior area
- Total structure area: 7,524
- Total interior livable area: 7,524 sqft
Property
Parking
- Total spaces: 10
- Parking features: Assigned
Features
- Levels: Three Or More
- Has view: Yes
- View description: None
Lot
- Features: Cleared, Interior Lot, Other, Level
- Topography: Level,Sloping
Details
- Parcel number: 1240300330000
- Zoning description: 12 - A-2 Medium Density Apartme
- Special conditions: None
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Hollow Tile
Condition
- Good Condition
- Year built: 1966
- Major remodel year: 2002
Utilities & green energy
- Sewer: Connected
- Utilities for property: Above Ground Utilities, Cable Available, Electricity Available, Natural Gas Available, High Speed Internet Available, Water Available, Sewer Connected
Community & HOA
Community
- Features: None
- Security: Lobby Secured
- Subdivision: Makiki
Location
- Region: Honolulu
Financial & listing details
- Price per square foot: $552/sqft
- Tax assessed value: $2,652,600
- Annual tax amount: $8,932
- Date on market: 5/17/2023
- Total actual rent: 23670
- Tenant pays: Cable TV, Electricity, Gas, Other
Price history
| Date | Event | Price |
|---|---|---|
| 11/20/2023 | Sold | $4,150,000-5.5%$552/sqft |
Source:  HiCentral MLS #202311027 Report a problem | ||
| 7/31/2023 | Contingent | $4,390,000$583/sqft |
Source: HiCentral MLS #202311027 Report a problem | ||
| 5/31/2023 | Price change | $4,390,000-4.5%$583/sqft |
Source: HiCentral MLS #202311027 Report a problem | ||
| 5/18/2023 | Listed for sale | $4,595,000$611/sqft |
Source: HiCentral MLS #202311027 Report a problem | ||
| 5/2/2023 | Listing removed | $4,595,000$611/sqft |
Source: HiCentral MLS #202225835 Report a problem | ||
| 4/17/2023 | Price change | $4,595,000-3.9%$611/sqft |
Source: HiCentral MLS #202225835 Report a problem | ||
| 2/14/2023 | Price change | $4,780,000-4%$635/sqft |
Source: HiCentral MLS #202225835 Report a problem | ||
| 1/12/2023 | Price change | $4,980,000-2.4%$662/sqft |
Source: HiCentral MLS #202225835 Report a problem | ||
| 12/17/2022 | Listed for sale | $5,100,000+8.6%$678/sqft |
Source: HiCentral MLS #202225835 Report a problem | ||
| 1/13/2021 | Listing removed | -- |
Source:  HiCentral MLS Report a problem | ||
| 11/17/2020 | Price change | $4,695,000-2.8%$624/sqft |
Source: Standard Management LLC #202027994 Report a problem | ||
| 11/3/2020 | Price change | $4,830,000-2.8%$642/sqft |
Source: Standard Management LLC #202027994 Report a problem | ||
| 10/27/2020 | Listed for sale | $4,970,000+77.8%$661/sqft |
Source: Standard Management LLC #202027994 Report a problem | ||
| 11/13/2019 | Sold | $2,795,340-30%$372/sqft |
Source: Public Record Report a problem | ||
| 2/6/2019 | Listed for sale | $3,995,000$531/sqft |
Source: Century 21 iProperties Hawaii #201903733 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $13,115 +41.2% | $2,652,600 0% |
| 2024 | $9,287 -28.9% | $2,653,400 +0.5% |
| 2023 | $13,059 +46.2% | $2,640,000 +3.4% |
| 2022 | $8,932 +3.7% | $2,552,100 +3.7% |
| 2021 | $8,616 -21.8% | $2,461,800 +14.2% |
| 2020 | $11,023 +45.4% | $2,156,500 -0.5% |
| 2019 | $7,583 +15.3% | $2,166,700 +15.3% |
| 2018 | $6,576 -3.7% | $1,878,900 -3.7% |
| 2017 | $6,826 +3.7% | $1,950,400 +3.7% |
| 2016 | $6,586 +5.5% | $1,881,700 +5.5% |
| 2015 | $6,244 | $1,784,100 +13.2% |
| 2014 | -- | $1,576,000 |
Find assessor info on the county website
Neighborhood: Makiki
Nearby homes
- $--1 bd1 ba604 sqft1662 Lewalani Dr APT 103, Honolulu, HI 96822Off Market
- $--1 bd1 ba600 sqft1662 Lewalani Dr APT 203, Honolulu, HI 96822Off Market
- $--1 bd1 ba604 sqft1662 Lewalani Dr APT 202, Honolulu, HI 96822Off Market
- $--1 bd1 ba600 sqft1662 Lewalani Dr APT 303, Honolulu, HI 96822Off Market
- $--2 bd1 ba800 sqft1662 Lewalani Dr APT 204, Honolulu, HI 96822Off Market
- $--2 bd1 ba800 sqft1662 Lewalani Dr APT 301, Honolulu, HI 96822Off Market
- $309,0002 bd1 ba606 sqft1662 Lewalani Dr #104, Honolulu, HI 96822Off Market
- $--1 bd1 ba600 sqft1662 Lewalani Dr #102, Honolulu, HI 96822Off Market
Nearby schools
GreatSchools rating
- 9/10President Abraham Lincoln Elementary SchoolGrades: PK-5Distance: 0.4 mi
- 6/10Robert Louis Stevenson Middle SchoolGrades: 6-8Distance: 0.2 mi
- 8/10President Theodore Roosevelt High SchoolGrades: 9-12Distance: 0.2 mi
Schools provided by the listing agent
- Elementary: Lincoln
- Middle: Stevenson
- High: Roosevelt
Source: HiCentral MLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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$4,152,500
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+$83,050
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$4,235,550
- Hawaii
- Honolulu County
- Honolulu
- 96822
- Makiki
- 1662 Lewalani Dr
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