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404 Magellan Avenue, 
Honolulu, HI 96813

$2,300,000

—

Bed

—

Bath

3,978

Sq Ft

Multi-Family

Active

Listed by

Stephanie Rae Band

Compass

Last updated:

May 27, 2026, 11:48 AM

MLS#

202521036

Source:

HI HBR

About This Home

404 Magellan Avenue

PRIME INVESTMENT OPPORTUNITY - REALIZE IMMEDIATE INCOME UPSIDE OF 7% + CAP RATE W/ ONLY A FEW MINOR CHANGES!! - In the heart of Honolulu this 9-unit property at 404 Magellan Ave offers a strong foundation with 9 separate electric meters, 9 separate gas meters, and individual gas water heaters for each unit—a rare setup that maximizes tenant independence and reduces ownership expenses. The building is currently generating income with solid rental history, and offers excellent upside potential: simply increase rents to market value or enhance returns with light remodeling or upgrades. This property provides flexibility and long-term growth opportunities in a highly desirable location close to schools, shops, and major transit routes. A must-see for investors looking for cash flow today and room to grow tomorrow!

Home Facts

Multi-Family

Built in 1948

Price Summary

2,300,000

$578 per Sq. Ft.

MLS #:

202521036

Last Updated:

May 27, 2026, 11:48 AM

Added:

8 month(s) ago

Structure

Structure

Building Area:

3,978 Sq. Ft.

Year Built:

1948

Lot

Lot Size (Sq. Ft):

5,376

Finances & Disclosures

Finances

Price:

$2,300,000

Price per Sq. Ft:

$578 per Sq. Ft.

Source:HI HBR
Based on information from the Multiple Listing Service of HiCentral MLS, Ltd. listings last updated on May 27, 2026. Information is deemed reliable but not guaranteed. Copyright: 2026 by HiCentral MLS, Ltd.

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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.