1559 Magazine Street, Honolulu, HI 96822

• 3,509 sqft

Property Description

An exceptional investment opportunity to acquire a well-maintained 5-unit multifamily property in the desirable Punchbowl neighborhood of Honolulu. The property features a diverse unit mix consisting of one studio, one 1-bedroom/1-bathroom, one 2-bedroom/1-bathroom, one 3-bedroom/2bathroom, and one 4-bedroom/2-bathroom unit, along with five covered garage parking stalls. Designed for operational efficiency, all units except the Studio & 1bd/1ba units are separately metered for electricity, making the property easy to self-manage while helping minimize operating expenses. The asset generates strong in-place cash flow with an annual Net Operating Income (NOI) of approximately $110,243. Ideally located just minutes from Downtown Honolulu, Queen’s Medical Center, Kaka'ako, Ala Moana, the University of Hawai'i at Manoa, Roosevelt High School, and Punahou School, the property offers convenient access to major employment centers, shopping, dining, healthcare, and education. This is a rare opportunity for investors seeking a stable, income-producing asset in one of Honolulu’s most centrally located neighborhoods.

Listing Status:

Active

Date Added:

August 10, 2026

Data Last Updated:

October 5, 2026 at 2:21AM

Listing Office:

Excel Commercial Realty LLC : (808) 225-8776

MLS ID:

202615380

Interior

• Appliances: DryerWasher
• A/C: Central Air

Exterior

• Parking: AssignedCoveredParking spaces: 5

Construction

• General: Double WallThree Or More

Location

• Originating MLS: HICMLS
• County: Oahu

Lot

• Topography: Terraced
• Zoning: 1-2-4-016-056-0000
• View: OtherView

Utilities

• Utilities: Above Ground UtilitiesCable AvailableElectricity AvailableHigh Speed Internet AvailableSewer AvailableWater AvailableSewer Connected
• Sewer: Connected

Financial

• Source: HICMLS