SOLD 11/20/2023
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1662 Lewalani Drive, Honolulu, HI 96822
$4,150,000 $4,390,000
Multi-Family Home
sold
7,524 sqft
Neighborhood:
Makiki
Sold 11/20/2023
$4,150,000 $4,390,000
7 min walk to Stevenson Recreation Center
5 min drive to Ala Moana Beach
5 min drive to Point Panic
4 min drive to Concessions
About lifestyles
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
Read more
Multi-family details
1966 year built
- Year Built 1966
- Year Remodeled 2002
- Original list price $4,595,000
- Days on market 188
- Building type Apartments
- Price per sqft $552/sqft
-
Address
1662 Lewalani Drive, Honolulu, HI, 96822
- Neighborhood Makiki
- Land tenure FS - Fee Simple
- Land SqFt 8,736 sqft
- View None
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Monthly payment
Calculate your monthly payments
Mortgage
$21,160
Taxes
$744
HOA dues
$0
Mortgage
Down payment
$830,000 / 20%
Interest rate
6.58%
Loan type
30 years
Your amount
$21,160 / month
Neighborhood: Makiki
Nearby & commute
Walkability
Coffee shops
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no data
Bus stop
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no data
Supermarket
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no data
Costco
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no data
Hospital
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no data
Park
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no data
Beach
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no data
Elementary school
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no data
Middle school
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no data
High school
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no data
Local airport
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no data
14.17 / 20
Somewhat walkable
►
18-20
Most Walkable
15-18
Very walkable
10-15
Somewhat walkable
1-10
Car dependent
Walkability according to the National Walkability Index
Unit Information
12 total units
# of 1 Bd
6
# of 2 Bd
6
# of 3 Bd
0
Total Units
12
Amenities & Features
10 parking places
Stories
Three
Roof
Composition
Construction
Hollow Tile
Utilities
Cable, Gas, Internet, Overhead Electricity, Water
Property Condition
Above Average
Parking
Assigned
nr.of parking places
10
Amenities
Secured Lobby
Income
Net Operating Income: $214,912
Total Actual Rent
$23,670
Total Annual Operating Expenses
$70,628
Total Income
$285,540
Net Operating Income
$214,912
Makiki prices
Average price $1.64m
Neighborhood average sales price*
$1.64m
Neighborhood median sales price*
$1.11m
Number or sales*
40
Street median sales price*
$1.25m
Median sale price Castle Surf Apts*
$1.73m
*last 6 months
Schools
15 schools in this area
| School rating | Distance | |
|---|---|---|
|
Montessori Community School
1239 Nehoa Street,
Honolulu, HI 96822
Elementary School
|
0.198mi | |
|
Robert Louis Stevenson Middle School
1202 Prospect St,
Honolulu, HI 96822
Middle School
|
0.207mi | |
|
President Theodore Roosevelt High School
1120 Nehoa St,
Honolulu, HI 96822
High School
|
0.223mi |
| School rating | Distance | |
|---|---|---|
|
Montessori Community School
1239 Nehoa Street,
Honolulu, HI 96822
|
0.198mi | |
|
Playmate Kindergarten, Day Care
1704 Keeaumoku Street,
Honolulu, HI 96822
|
0.303mi | |
|
President Abraham Lincoln Elementary School
615 Auwaiolimu St,
Honolulu, HI 96813
|
0.358mi | |
|
Hawaiian Mission Academy K-8
1415 Makiki Street,
Honolulu, HI 96814
|
0.457mi | |
|
Queen Kaahumanu Elementary School
1141 Kinau St,
Honolulu, HI 96814
|
0.473mi |
| School rating | Distance | |
|---|---|---|
|
Robert Louis Stevenson Middle School
1202 Prospect St,
Honolulu, HI 96822
|
0.207mi | |
|
Hawaiian Mission Academy K-8
1415 Makiki Street,
Honolulu, HI 96814
|
0.457mi | |
|
Punahou School
1601 Punahou Street,
Honolulu, HI 96822
|
0.563mi | |
|
Maryknoll School
1402 Punahou Street,
Honolulu, HI 96822
|
0.575mi | |
|
Maryknoll Grade School
1722 Dole Street,
Honolulu, HI 96822
|
0.683mi |
| School rating | Distance | |
|---|---|---|
|
President Theodore Roosevelt High School
1120 Nehoa St,
Honolulu, HI 96822
|
0.223mi | |
|
Hawaiian Mission Academy
1438 Pensacola Street,
Honolulu, HI 96822
|
0.324mi | |
|
Punahou School
1601 Punahou Street,
Honolulu, HI 96822
|
0.563mi | |
|
Maryknoll School
1402 Punahou Street,
Honolulu, HI 96822
|
0.575mi | |
|
Maryknoll Grade School
1722 Dole Street,
Honolulu, HI 96822
|
0.683mi |
School ratings provided by Greatschools.org
© 2023. All rights reserved.
Price history
Sold Nov 20, 2023
| Date | Event | Price | $/sqft | Source |
|---|---|---|---|---|
| Nov 20, 2023 | Sold | $4,150,000 +15.8% from last sold price | $551.57 | Public Record |
| Jul 31, 2023 | Active Under Contract | $4,390,000 | $583.47 | MLS #202311027 |
| May 31, 2023 | Price Decrease | $4,390,000 -4.46% | $583.47 | MLS #202311027 |
| May 17, 2023 | New Listing | $4,595,000 | $610.71 | MLS #202311027 |
| May 1, 2023 | Cancelled | $4,595,000 | $610.71 | MLS #202225835 |
| Apr 17, 2023 | Price Decrease | $4,595,000 -3.87% | $610.71 | MLS #202225835 |
| Feb 14, 2023 | Price Decrease | $4,780,000 -4.02% | $635.30 | MLS #202225835 |
| Jan 11, 2023 | Price Decrease | $4,980,000 -2.35% | $661.88 | MLS #202225835 |
| Dec 16, 2022 | New Listing | $5,100,000 +8.63% | $677.83 | MLS #202225835 |
| Jan 18, 2021 | Cancelled | $4,695,000 | $624.00 | MLS #202027994 |
| Nov 17, 2020 | Price Decrease | $4,695,000 -2.8% | $624.00 | MLS #202027994 |
| Nov 2, 2020 | Price Decrease | $4,830,000 -2.82% | $641.95 | MLS #202027994 |
| Oct 27, 2020 | New Listing | $4,970,000 +38.68% | $660.55 | MLS #202027994 |
| Nov 13, 2019 | Sold | $3,583,770 -10.29% from last sold price | $476.31 | Public Record |
| Sep 2, 2019 | Active Under Contract | $3,995,000 | $530.97 | MLS #201903733 |
| Sep 2, 2019 | In Escrow - not showing | $3,995,000 | $530.97 | MLS #201903733 |
| Feb 6, 2019 | New Listing | $3,995,000 | $530.97 | MLS #201903733 |
Tax & MLS details 1662 Lewalani Drive, Honolulu, HI, 96822
12 - A-2 Medium Density Apartme zoning / MLS #202311027
Current Property Taxes p/month
$744
Property Tax Year
2023
Assessed Improvement value
$849,400
Assessed Land value
$1,790,600
TMK
1-2-4-030-033-0000
Land Recorded
Land Court
Zoning
12 - A-2 Medium Density Apartme
Flood Zone
Zone X
Topography
Gentle Slope,Level
Location
Inside
Lot Description
Clear,Other
Property Setbacks
C&C
Total Assessed value
$2,640,000
Listed by
Standard Management LLC
(808) 208-8107
(808) 208-8107
MLS #
202311027
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Frequently asked questions for 1662 Lewalani Drive
When was this multi-family home built and last sold?
This house was build in 1966 and sold in 2023.
What is the full address of this multi-family home?
1662 Lewalani Drive, Honolulu, HI, 96822.
Are there beaches near 1662 Lewalani Drive?
The nearest beach is 1.414 miles away, called Ala Moana Beach. It should take about 5 min drive.
Based on information from the Multiple Listing Service of HiCentral MLS, Ltd. Copyright 2025 by HiCentral Mls, Ltd. Listing courtesy of Standard Management LLC. Some active listings appearing on this site may be listed by other REALTORS®. If you are interested in those active listings, our company may represent you as the buyer's agent. If the active listing you are interested in is our company's active listing, you may speak to one of our agents regarding your options for representation. Hawaii House Inc. is a real estate brokerage firm licensed to conduct business in the State of Hawaii. Information deemed reliable, but not guaranteed.
Listings last updated on June 14, 2024.
Hawaii House Last checked 1 minute ago.
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