Apartment Building with Covered
922 McCully Street Honolulu, HI 96826
For Sale
Contact for pricing
Concrete-built apartment building with nine condo-converted three-bedroom, two-bath units and 13 covered parking spaces.
Property Size8,886 SF
Price / SF$483.91
Days on Market28
Property Features for 922 McCully Street
General Information
- Standard status
- Active
- Size
- 8,886 SF
- Property subtype
- Retail, Multifamily
Building Details
- Year Built
- 1982
Listing Agency:
Commercial Investment Strategies
(808) 429-1098
Listed By:
Christina Dwight · License #HI RB-20978
Source:
Crexi
Added: Jun 30
Changed: Jul 22
Last Checked: Jul 26 at 4:20AM
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 Investment Strategies
Investment Insights
Based on property information with market context.
This concrete-built apartment building is configured as nine condo-converted units, each with its own TMK. The property is arranged in three stacks of three units, with each stack having a separate, secured entry. Each unit includes landlord-owned laundry.
The building is located less than a mile to UH Manoa and Waikiki.
On-site parking includes 13 covered spaces, supporting tenant convenience across the nine-unit layout.
The building is located less than a mile to UH Manoa and Waikiki.
On-site parking includes 13 covered spaces, supporting tenant convenience across the nine-unit layout.
Key Highlights
- Concrete‑built apartment building (built 1982) with nine 3‑bedroom, 2‑bath units
- Includes 13 covered parking spaces
- Condo‑converted setup with each unit having its own TMK
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 | $319.9k | $36.00 |
| − Vacancy | −$23.7k | −$2.66 |
| EGI | $296.2k | $33.34 |
| − OpEx | −$133.3k | −$15.00 |
| NOI | $162.9k | $18.33 |
8,886 SF · lease $36.00/SF/yr · vacancy 7.40% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.33M
$2.04M – $2.72M
NOI $162,923 @ 7.0% cap · market cap 3.79%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.60M
$3.15M – $4.20M
NOI $252,008 @ 7.0% cap · market cap 5.86%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
The Cambridge
Apartment Building
FAQs
What type of property is this?
Apartment building - Concrete-built apartment building with nine condo-converted three-bedroom, two-bath units and 13 covered parking spaces.
Where is this apartment building located?
The property is located at 922 McCully Street Honolulu, HI.
What is the asking price?
The asking price for this property is $4,300,000.
What are key features of this property?
This property features: Concrete‑built apartment building (built 1982) with nine 3‑bedroom, 2‑bath units; Includes 13 covered parking spaces; Condo‑converted setup with each unit having its own TMK
