26-Unit Multifamily Asset - Stable Cash Flow 1917 Algaroba St Immeuble residentiel 26 lots 6 089 729 € (234 220 €/Lot) Honolulu, HI 96826

1917 Algaroba Street presents a rare opportunity to acquire a 26-unit, high-density apartment property in Honolulu's supply-constrained McCully-Moiliili submarket, just minutes from Waikiki, UH Manoa, and the H-1 Freeway. The property spans three buildings on a 14,400 SF parcel and offers a diversified unit mix — including studios, one-, two-, and three-bedroom configurations — providing multiple income strategies and broad tenant appeal.
The asset delivers stable in-place cash flow with a projected NOI of approximately $414,000 annually, alongside meaningful upside through operational efficiencies and continued rental growth in a market defined by durable, strong tenant demand. Investors should also note the long-term redevelopment potential the large land parcel offers for a higher-density apartment project under Honolulu's Bill 7 or 201H affordable housing programs.