Waikiki Renovated Multifamily Investment
412 Launiu Street, Honolulu, HI 96815
For Sale
$18,500,000
36 renovated units in the heart of Waikiki.
Property Size30,663 SF
Days on Market262
Property Features for 412 Launiu Street
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Moana Realty LLC
Listed By:
Peggy SY Tong Kong · License HI RB-23606
(808) 729-7888
Source:
Commercialinvestmentstrategies
Added: Feb 26
Changed: Nov 9
Last Checked: Nov 12 at 4:18PM
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 Moana Realty LLC
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Investment Insights
Based on property information with market context.
This is a stabilized, fee-simple investment opportunity featuring 36 renovated units located in Waikiki. The high-density asset is positioned to capture premium rental rates and offers a unit mix designed for maximum occupancy. The property includes twelve 2-bedroom/2-bathroom units, eighteen 2-bedroom/1-bathroom units, and six 1-bedroom/1-bathroom units. Each residence has been updated to meet modern standards, providing a turnkey experience for the next owner with reduced capital expenditure requirements. In addition to residential income, the property features an on-site laundromat with four coin-operated washers and dryers, generating ancillary income. The property may differ from tax records; buyer to do their own due diligence.
Key Highlights
- Stabilized, fee‑simple investment in the heart of Waikiki.
- 36 renovated units offering a turnkey experience with reduced capital expenditure.
- Superior unit mix designed for maximum occupancy (twelve 2/2, eighteen 2/1, six 1/1).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$562,200
Cap Rate
3.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,244,000
$11.2M
Cap Rate 7%
$8,031,429
$8.0M
Cap Rate 9%
$6,246,667
$6.2M
Market Conditions
NOI Build-Up for 30,663 SF
Gross rent
$1.10M $36.00/SF
− Vacancy
−$81.7K −$2.66/SF
EGI
$1.02M $33.34/SF
− OpEx
−$460.0K −$15.00/SF
NOI
$562.2K $18.33/SF
Area
Honolulu County, HI
Vacancy
7.40%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,244,000
Cap Rate 7%
$8,031,429
Cap Rate 9%
$6,246,667
Alternative Uses
Best Use
Apartment 5plus
$8.03M
$7.03M – $9.37M
NOI $562,200 @ 7.0% cap · market cap 3.04%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$12.42M
$10.87M – $14.49M
NOI $869,605 @ 7.0% cap · market cap 4.70%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Demographics for 96815, HI
28,786
Population
22,804
Households
1.3
Avg Household Size
48
Median Age
47%
College-Educated
94%
High-School Grad
2.2 sq mi
ZIP Area
13,085
Density / Sq Mi
$75,020
Median Household Income
$55,543
Median Earnings
$1,903
Median Rent
$627,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Honolulu, HI
Properties on Market for Apartment buildings in Honolulu
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - 36 renovated units in the heart of Waikiki.
Where is this apartment building located?
The property is located at 412 Launiu Street Honolulu, HI.
What is the asking price?
The asking price for this property is $18,500,000.
What are key features of this property?
This property features: Stabilized, fee‑simple investment in the heart of Waikiki.; 36 renovated units offering a turnkey experience with reduced capital expenditure.; Superior unit mix designed for maximum occupancy (twelve 2/2, eighteen 2/1, six 1/1).
