About 404 Magellan Avenue
PRIME INVESTMENT OPPORTUNITY - REALIZE IMMEDIATE INCOME UPSIDE OF 5.7-6% CAP RATE W/ ONLY A FEW MINOR CHANGES!! - In the heart of Honolulu this 9-unit property at 404 Magellan Ave offers a strong foundation with 9 separate electric meters, 9 separate gas meters, and individual gas water heaters for each unit—a rare setup that maximizes tenant independence and reduces ownership expenses. The building is currently generating income with solid rental history, and offers excellent upside potential: simply increase rents to market value or enhance returns with light remodeling or upgrades. This property provides flexibility and long-term growth opportunities in a highly desirable location close to schools, shops, and major transit routes. A must-see for investors looking for cash flow today and room to grow tomorrow!
Features of 404 Magellan Avenue
| MLS® # | 202521036 |
|---|---|
| Price | $2,850,000 |
| Bathrooms | 0.00 |
| Acres | 0.12 |
| Year Built | 1948 |
| Type | Residential |
| Sub-Type | Multi Family |
| Status | Active |
Community Information
| Address | 404 Magellan Avenue |
|---|---|
| Area | Metro |
| Subdivision | PUNCHBOWL-LOWER |
| City | Honolulu |
| County | Oahu |
| State | HI |
| Zip Code | 96813 |
Amenities
| Utilities | Above Ground Utilities, Cable Available, Electricity Available, High Speed Internet Available, Phone Available, Water Available, Natural Gas Available, Sewer Available, Sewer Connected |
|---|---|
| Parking Spaces | 9 |
| Parking | Assigned |
| View | City, Mountain(s) |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Fireplace | No |
|---|---|
| Stories | Three Or More |
Exterior
| Exterior | Single Wall, Wood Frame, Hollow Tile, Other |
|---|
Additional Information
| Days on Market | 11 |
|---|---|
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
| Lease Fee | $0 |
Listing Details
| Office | Compass |
|---|---|
| Contact Info | (808) 825-4277 |