Apartment Building with Covered
For Sale
$3,988,000
922 McCully St, Honolulu, HI 96826
Concrete-built apartment building with nine condo-converted three-bedroom, two-bath units and 13 covered parking spaces.
Property Size8,886 SF
Price / SF$448.80
Days on Market123
Property Features for 922 McCully St
General Information
Standard status
Active
Size
8,886 SF
Total Parking Spaces
13
Site & Location
Neighborhood
Kapiolani
Additional Details
Multifamily Units
9
Building Details
Year Built
1982
Stories
3
Construction
concrete construction
Tenancy
Multi
Listing Agency:
Commercial Inv. Strategies
Listed By:
Christina L Dwight · License #RB-20978
(808) 429-1098
Source:
Paradisebrokers
Added: Jul 3
Changed: Oct 26
Last Checked: Oct 7 at 3:19PM
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
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Review the available facts, identify missing information and prepare questions for the agent.
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
Estimated NOI and Cap Rate
NOI / Yr
$162,923
Cap Rate
4.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,258,460
$3.3M
Cap Rate 7%
$2,327,471
$2.3M
Cap Rate 9%
$1,810,256
$1.8M
Market Conditions
NOI Build-Up for 8,886 SF
Gross rent
$319.9K $36.00/SF
− Vacancy
−$23.7K −$2.66/SF
EGI
$296.2K $33.34/SF
− OpEx
−$133.3K −$15.00/SF
NOI
$162.9K $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%
$3,258,460
Cap Rate 7%
$2,327,471
Cap Rate 9%
$1,810,256
Alternative Uses
Best Use
Apartment 5plus
$2.33M
$2.04M – $2.72M
NOI $162,923 @ 7.0% cap · market cap 4.09%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.60M
$3.15M – $4.20M
NOI $252,008 @ 7.0% cap · market cap 6.32%
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
Lease Details
9
Residential units
Multi-tenant
Tenancy
Location Intelligence
Demographics for 96826, HI
30,092
Population
16,564
Households
1.8
Avg Household Size
44
Median Age
38%
College-Educated
91%
High-School Grad
1.1 sq mi
ZIP Area
27,356
Density / Sq Mi
$67,743
Median Household Income
$44,393
Median Earnings
$1,604
Median Rent
$485,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
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 St Honolulu, HI.
What is the asking price?
The asking price for this property is $3,988,000.
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
