Well-Maintained Two-Story
1213 Matlock Avenue Honolulu, HI 96814
For Sale
$1,888,000
2-story hollow tile building with eight one-bedroom units, owned coin laundry, and two parking spaces.
Property Size3,588 SF
Price / SF$526.20
Days on Market99
Property Features for 1213 Matlock Avenue
General Information
Standard status
Active
Size
3,588 SF
Property subtype
Multi-Family / Multi-Family
Building Details
Year Built
1956
Listing Agency:
Commercial Inv. Strategies
(808) 429-1098
Listed By:
Christina L Dwight · License #RB-20978
(808) 429-1098
Source:
Compass
Added: Apr 20
Changed: Jul 21
Last Checked: Jul 26 at 11:58AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Commercial Inv. Strategies
Investment Insights
Based on property information with market context.
Care of ownership is evident in this well-maintained two-story hollow tile multifamily building. The property offers eight one-bedroom units, plus owned coin laundry and two parking spaces.
Mechanical and exterior upgrades are documented, including an underground sewer that was widened and redone with a sump, and unit 4 that was re-plumbed this year. All electrical has been upgraded to 30 kW per unit. The roof was resurfaced in 2010, and the exterior paint was updated in 2024. Tenant camera systems are present, and the buyer will need to accept the survey dated May 27, 2015, completed by DJNS Surveying and Mapping, Inc.
Located at 1213 Matlock Avenue in Honolulu, Hawaii 96814.
Mechanical and exterior upgrades are documented, including an underground sewer that was widened and redone with a sump, and unit 4 that was re-plumbed this year. All electrical has been upgraded to 30 kW per unit. The roof was resurfaced in 2010, and the exterior paint was updated in 2024. Tenant camera systems are present, and the buyer will need to accept the survey dated May 27, 2015, completed by DJNS Surveying and Mapping, Inc.
Located at 1213 Matlock Avenue in Honolulu, Hawaii 96814.
Key Highlights
- 2‑story hollow tile building built in 1956 with 8 one‑bedroom units
- Owned coin laundry on‑site, plus coin laundry hookups/operations listed as on the property
- All electrical upgraded to 30 kW per unit
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $129.2k | $36.00 |
| − Vacancy | −$9.6k | −$2.66 |
| EGI | $119.6k | $33.34 |
| − OpEx | −$53.8k | −$15.00 |
| NOI | $65.8k | $18.33 |
3,588 SF · lease $36.00/SF/yr · vacancy 7.40% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$939.8K
$822.3K – $1.10M
NOI $65,785 @ 7.0% cap · market cap 3.48%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.45M
$1.27M – $1.70M
NOI $101,756 @ 7.0% cap · market cap 5.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - 2-story hollow tile building with eight one-bedroom units, owned coin laundry, and two parking spaces.
Where is this apartment building located?
The property is located at 1213 Matlock Avenue Honolulu, HI.
What is the asking price?
The asking price for this property is $1,888,000.
What are key features of this property?
This property features: 2‑story hollow tile building built in 1956 with 8 one‑bedroom units; Owned coin laundry on‑site, plus coin laundry hookups/operations listed as on the property; All electrical upgraded to 30 kW per unit
