$1.6M Legacy Property Sale – 4-Unit Apartment Building in Kaimuki, Honolulu
A multigenerational family property located at 708F Olokele Avenue, Honolulu, HI was ready for transition. The 4-unit apartment building, constructed from durable hollow tile, featured one 3-bedroom, 2-bath unit, one 2-bedroom, 1-bath unit, and two 1-bedroom, 1-bath units, along with 8 parking stalls. Originally built by the family patriarch, it had been maintained by one of his sons for over 30 years.
Project Highlights
- Property Type & Size: A 4-unit concrete apartment building with a mix of 1, 2, and 3-bedroom layouts and 8 dedicated parking stalls.
- Location Advantage: Located in Kaimuki, just outside Kapahulu and Diamond Head, near Waikiki, Kahala Mall, and the University of Hawai‘i at Mānoa.
- Sales Price: $1,600,000.
Challenges Faced
- Family Transition: The property was inherited by two brothers after the passing of their father. One brother had lived on-site and was now transitioning to a senior care facility.
- Urgent Financial Needs: The cost of the senior care home was high, and the sale proceeds were needed to fund housing and healthcare expenses for both brothers.
- Emotional Sale: The family had a deep emotional connection to the property, which added complexity to the decision-making process.
Solutions & Advantages
- Accurate Valuation & Trusted Advice: Excel Commercial Realty provided a thorough market analysis, and the owners were confident in the valuation and marketing approach.
- Tailored Marketing Strategy: We highlighted the property’s strongest features—including its fresh exterior paint, solid structure, large parcel, and prime location—to attract qualified buyers.
- Record-Setting Result: The property sold at a per-unit price of $400,000, setting a benchmark in the area. The sellers were able to transition to a more comfortable lifestyle and meet their financial goals.
About Kaimuki, Honolulu
Kaimuki is one of Honolulu’s most beloved neighborhoods, known for its blend of vintage charm, local eateries, and proximity to some of the city’s most iconic attractions. Just a short drive from Waikiki and Diamond Head, the area is a hotspot for renters seeking convenience, culture, and lifestyle. Its central location and community feel make Kaimuki an attractive market for multifamily investments.
Client Testimonial
"We are grateful to have had Kynan on our team to sell our family’s property. He was very thorough and patient with us throughout the process. What seemed like an impossible task and life transition, he made easy for our family to move on with the next phase of our lives."
$1.6M Legacy Property Sale – 4-Unit Apartment Building in Kaimuki, Honolulu
A multigenerational family property located at 708F Olokele Avenue, Honolulu, HI was ready for transition. The 4-unit apartment building, constructed from durable hollow tile, featured one 3-bedroom, 2-bath unit, one 2-bedroom, 1-bath unit, and two 1-bedroom, 1-bath units, along with 8 parking stalls. Originally built by the family patriarch, it had been maintained by one of his sons for over 30 years.
Project Highlights
Property Type & Size: A 4-unit concrete apartment building with a mix of 1, 2, and 3-bedroom layouts and 8 dedicated parking stalls.Location Advantage: Located in Kaimuki, just outside Kapahulu and Diamond Head, near Waikiki, Kahala Mall, and the University of Hawai‘i at Mānoa.Sales Price: $1,600,000.Challenges Faced
Family Transition: The property was inherited by two brothers after the passing of their father. One brother had lived on-site and was now transitioning to a senior care facility.Urgent Financial Needs: The cost of the senior care home was high, and the sale proceeds were needed to fund housing and healthcare expenses for both brothers.Emotional Sale: The family had a deep emotional connection to the property, which added complexity to the decision-making process.Solutions & Advantages
Accurate Valuation & Trusted Advice: Excel Commercial Realty provided a thorough market analysis, and the owners were confident in the valuation and marketing approach.Tailored Marketing Strategy: We highlighted the property’s strongest features—including its fresh exterior paint, solid structure, large parcel, and prime location—to attract qualified buyers.Record-Setting Result: The property sold at a per-unit price of $400,000, setting a benchmark in the area. The sellers were able to transition to a more comfortable lifestyle and meet their financial goals.About Kaimuki, Honolulu
Kaimuki is one of Honolulu’s most beloved neighborhoods, known for its blend of vintage charm, local eateries, and proximity to some of the city’s most iconic attractions. Just a short drive from Waikiki and Diamond Head, the area is a hotspot for renters seeking convenience, culture, and lifestyle. Its central location and community feel make Kaimuki an attractive market for multifamily investments.
Client Testimonial
"We are grateful to have had Kynan on our team to sell our family’s property. He was very thorough and patient with us throughout the process. What seemed like an impossible task and life transition, he made easy for our family to move on with the next phase of our lives."
