$2,300,000

404 Magellan Avenue, Honolulu, HI 96813

3,978 sqft

Commercial Property
Built in 1948
5,227sqft lot
—— car garage
$578/sqft
Listed 7 months ago

Property Description

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!

Listing Status:: Active
Date Added:: October 1, 2025
Data Last Updated:: May 20, 2026 at 5:20AM
Listing Office:: Compass : (808) 825-4277
MLS ID:: 202521051

Flooring: Other
A/C: Other1 Unit

Parking: AssignedOn StreetParking spaces: 9

General: BlockConcreteWood Frame3

Road/Access: Other
Originating MLS: HICMLS
County: Oahu

Zoning: 1-2-1-021-047-0000

Utilities: Electricity AvailableNatural Gas AvailableOtherSewer Connected
Sewer: Connected

Source: HICMLS

This listing courtesy of Compass

Monthly Payment

$Est. Payment

Principal & Interest $
Property Taxes $
Home Insurance $
VA Funding Fee $

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