Four-Unit Residential Income
15-1977 22ND AVE Keaau, HI 96749
15-1977 22ND AVE, Keaau, HI, 96749
$625,000
For Sale
$625,000
MULTI_FAMILY - Keaau, HI
Property Size1,692 SF
Lot Size1.00 Acre
Price / SF$369.39
Days on Market19
Property Features for 15-1977 22ND AVE
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- A-1A
- Bedrooms
- 7
- Bathrooms
- 4
- Rooms
- Bedroom 5, Bathroom 3, Bedroom 4, Bedroom 1, Bathroom 2, Bathroom 4, Bedroom 6, Bedroom 2, Bedroom 7, Bathroom 1, Bedroom 3
- Standard status
- Active
- APN
- 3150211560000
- Size
- 1,692 SF
- Lot size
- 1.00 Acre
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 3934
Utilities
- Water source
- Well, Private
Building Details
- Year built
- 1977
- Flooring type
- Carpet
Listing Agency
Nathalie Mullinix Realty Universal, Inc.
(808) 261-0350
1888 Kalakaua Avenue Suite C312, Honolulu, HI
Listed by
Nathalie C Mullinix · License #RB-17596
(808) 327-4466
Added: Jun 30 Checked: Jul 18 at 3:06 pm
MLS# 731620
Listing URL
Copyright © 2026 Hawaii Information Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This property is a four-unit residential income configuration in Hawaiian Paradise Park, presented as a versatile home with seven bedrooms and four bathrooms. The listing notes convenient access via a paved road and includes a disclosure that the property is not fully permitted. The seller also advises that square footage differs from public record. Buyers are directed to confirm all details and hold all parties harmless for any discrepancies between MLS and advertising information.
The home is located in Keaau and is described as being about 15 miles from Hilo, with the site positioned between Hilo and Pahoa for access to local shopping, dining, and medical care. The listing further states the property is a short walk to a bus stop (approximately 3 minutes). Zoning is noted as A-1A. The property is identified as being in Lava Zone 3 and Flood Zone X (low-risk).
For buyers seeking a multi-unit residence with separate units for flexible living arrangements, this layout may fit a variety of household needs. Prospective purchasers should plan for due diligence related to permitting status and verified measurements, as well as confirmation of unit configuration and all reported square footage before finalizing any transaction.
The home is located in Keaau and is described as being about 15 miles from Hilo, with the site positioned between Hilo and Pahoa for access to local shopping, dining, and medical care. The listing further states the property is a short walk to a bus stop (approximately 3 minutes). Zoning is noted as A-1A. The property is identified as being in Lava Zone 3 and Flood Zone X (low-risk).
For buyers seeking a multi-unit residence with separate units for flexible living arrangements, this layout may fit a variety of household needs. Prospective purchasers should plan for due diligence related to permitting status and verified measurements, as well as confirmation of unit configuration and all reported square footage before finalizing any transaction.
Key Highlights
- 7‑bedroom, 4‑bath home in Hawaiian Paradise Park (HPP) with 4 separate units for flexible living arrangements
- Built in 1977; interior flooring includes carpet
- Water supply: well and private water source
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $37.6k | $22.20 |
| − Vacancy | −$1.3k | −$0.78 |
| EGI | $36.2k | $21.42 |
| − OpEx | −$10.9k | −$6.43 |
| NOI | $25.4k | $15.00 |
1,692 SF · lease $22.20/SF/yr · vacancy 3.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$362.5K
$317.2K – $422.9K
NOI $25,373 @ 7.0% cap · market cap 4.06%
Second Best
Apartment 5plus
$332.0K
$290.5K – $387.4K
NOI $23,241 @ 7.0% cap · market cap 3.72%
Theoretical Best
Specialty Retail
$577.4K
$505.3K – $673.7K
NOI $40,421 @ 7.0% cap · market cap 6.47%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Spacious 4-unit setup with seven bedrooms and four bathrooms, positioned on a paved road near transit in Keaau.
Where is this quadplex located?
The property is located at 15-1977 22ND AVE Keaau, HI.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 7‑bedroom, 4‑bath home in Hawaiian Paradise Park (HPP) with 4 separate units for flexible living arrangements; Built in 1977; interior flooring includes carpet; Water supply: well and private water source
