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1156 Alewa Drive

Honolulu, HI 96817
  • $1,695,000
  • STATUS: Active Under Contract
  • ON SITE: 40 Days
  • MLS #: 202604529
Under Contract
UPDATED: 67 min ago
$1,695,000
  • 0
    BEDS
  • 0.18
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1939
County:
Area:

School Information

Elementary School:
Middle School:
High School:

Description

An extremely attractive residential offering to acquire 3 detached dwellings, all located on a single parcel in Honolulu. The property offers stable cash flow combined with low maintenance costs and strong appreciation potential. 2025 renovations make this offering ideal for 1031 exchange or investors seeking stable NOI and low operating costs. 2 rental units provide immediate income of $5,750/mo. incl. GET plus potential income of $3,400/mo. incl. GET from the 3rd home for a total of $9,150/mo. in income. A rare multi-family investment with high rental demand and reduced management intensity compared to larger multi-family properties. Each house offers 2 bedrooms and 1 bathroom, separate electric meter, small private yard, remodeled kitchen with new appliances and flooring. Gently sloped parcel in a desirable neighborhood, located close to schools and restaurants, with views of the ocean, downtown Honolulu, and Diamond Head. The roofs are in good condition, with newer exterior storage and a covered carport. Please contact Listor for showing and do not disturb tenants or park in driveway. A few photos have been virtually staged(enhanced).

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© 2026 HiCentral MLS, Ltd. All rights reserved.
Some of the active listings on this site may be listed by other REALTORS®. If you are interested in those active listings, our company may represent you as the buyer's agent. If the active listing you are interested in is our company's active listing, you may speak to one of our agents regarding your options for representation.

IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Hawaii Dream Homes.

Licensed in the State of Hawaii, USA.
www.hawaiidreamhomes.com/homes/174047479
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1156 Alewa Drive Honolulu, HI 96817

  • Price: $1,695,000
  • Status: Active Under Contract
  • On Site: 40 Days
  • Updated: 67 min ago
  • MLS #: 202604529
0
Beds
0
Baths
0
½ Baths
0.18
Acres
1939
Built
Neighborhood:
Alewa Heights
County:
Oahu
Area:
Metro
Elementary School:
Maemae
Middle School:
Kawananakoa
High School:
Mckinley
Property Description
An extremely attractive residential offering to acquire 3 detached dwellings, all located on a single parcel in Honolulu. The property offers stable cash flow combined with low maintenance costs and strong appreciation potential. 2025 renovations make this offering ideal for 1031 exchange or investors seeking stable NOI and low operating costs. 2 rental units provide immediate income of $5,750/mo. incl. GET plus potential income of $3,400/mo. incl. GET from the 3rd home for a total of $9,150/mo. in income. A rare multi-family investment with high rental demand and reduced management intensity compared to larger multi-family properties. Each house offers 2 bedrooms and 1 bathroom, separate electric meter, small private yard, remodeled kitchen with new appliances and flooring. Gently sloped parcel in a desirable neighborhood, located close to schools and restaurants, with views of the ocean, downtown Honolulu, and Diamond Head. The roofs are in good condition, with newer exterior storage and a covered carport. Please contact Listor for showing and do not disturb tenants or park in driveway. A few photos have been virtually staged(enhanced).
Exterior Features

Construction Materials Hollow Tile Single Wall Wood Frame Foundation Details Slab Lot Features Interior Lot Irregular Lot Level Open Parking YN Yes Parking Features Covered Open Tandem Parking Total 5 Topography Level Sloping View City Mountain(s) Ocean View YN Yes

Interior Features

Appliances Dryer Washer Building Area Total 2395 Furnished Unfurnished Levels One

Property Features

Availability Type Community Features None Storage Facilities Disclosures Seller Disclosure See Remarks Land Tenure Fee Simple Net Operating Income 81552 Operating Expense 28248 Operating Expense Includes Insurance Manager Maintenance Other Real Estate Tax New Tax Property Condition Good Condition Property Sub Type Multi Family Sewer Connected Special Listing Conditions None Structure Type Multi Family Tax Annual Amount 4468.08 Tenant Pays Cable TV Electricity Other Utilities Above Ground Utilities Electricity Available Natural Gas Available Water Available Sewer Connected Water Source Public Zoning Description 05 - R-5 Residential District

Listings provided courtesy of REMAX Hawaii: (808) 738-3600.
Based on information from the Multiple Listing Service of HiCentral MLS, Ltd. Listings last updated on 2026-04-22T11:59:07.867. Information is deemed reliable but not guaranteed. Copyright: 2026 by HiCentral MLS, Ltd.


© 2026 HiCentral MLS, Ltd. All rights reserved.
Some of the active listings on this site may be listed by other REALTORS®. If you are interested in those active listings, our company may represent you as the buyer's agent. If the active listing you are interested in is our company's active listing, you may speak to one of our agents regarding your options for representation.

IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Hawaii Dream Homes.

Licensed in the State of Hawaii, USA.
 
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4211 Waialae Avenue, Suite 100
Honolulu HI, 96816