Multifamily Property with Rental
For Sale
$469,500
17-7652 KULANI RD, Mountain View, HI 96771
Residential Income, Mountain View, HI
Property Size1,352 SF
Lot Size0.18 Acres
Price / SF$347.26
Days on Market174
Property Features for 17-7652 KULANI RD
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RS-20
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 5, Bathroom 4, Bathroom 3, Bedroom 2
Subdivision
MOUNTAIN VIEW SUBDIVISION
Standard status
Active
APN
3170120010000
Size
1,352 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2526
HOA Fee
$211 Monthly
Utilities
Utilities
Water Available
Sewer type
Cesspool
Water source
Public
Building Details
Year built
1944
Floors in Building
2
Flooring type
Carpet, Vinyl
Listing Agency:
Nathalie Mullinix Realty Universal, Inc.
(808) 261-0350
Listed By:
Nathalie C Mullinix · License #RB-17596
(808) 327-4466
Added: Mar 13
Changed: Aug 19
Last Checked: Sep 2 at 7:06AM
MLS# 728793
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 multifamily property contains 1,352 square feet with five bedrooms and four bathrooms. Built in 1944, the residence has carpet and vinyl flooring and sits on an 8,051-square-foot lot, or 0.1848 acres. RS-20 zoning, public water, and a cesspool are identified for the property. The residence has an established history as a rental-income property.
Positioned at the corner of Volcano Highway and North Kulani Road, the property is across from a bus stop and within walking distance of Mountain View Elementary School and a park. The grounds include fruit trees and native Hawaiian greenery, adding established landscape features to the residential setting.
Positioned at the corner of Volcano Highway and North Kulani Road, the property is across from a bus stop and within walking distance of Mountain View Elementary School and a park. The grounds include fruit trees and native Hawaiian greenery, adding established landscape features to the residential setting.
Key Highlights
- 1,352‑square‑foot multifamily property with 5 bedrooms and 4 bathrooms
- 8,051‑square‑foot lot measuring 0.1848 acres
- RS‑20 zoning with public water service
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$18,571
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.96%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$371,420
$371.4K
Cap Rate 7%
$265,300
$265.3K
Cap Rate 9%
$206,344
$206.3K
Market Conditions
NOI Build-Up for 1,352 SF
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.
Gross rent
$34.9K $25.80/SF
− Vacancy
−$1.1K −$0.83/SF
EGI
$33.8K $24.97/SF
− OpEx
−$15.2K −$11.24/SF
NOI
$18.6K $13.74/SF
Area
Hawaii County, HI
Vacancy
3.20%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$371,420
Cap Rate 7%
$265,300
Cap Rate 9%
$206,344
Alternative Uses
Best Use
Apartment 5plus
$265.3K
$232.1K – $309.5K
NOI $18,571 @ 7.0% cap · market cap 3.96%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$461.4K
$403.7K – $538.3K
NOI $32,299 @ 7.0% cap · market cap 6.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Demographics for 96771, HI
8,483
Population
3,144
Households
2.7
Avg Household Size
42
Median Age
18%
College-Educated
90%
High-School Grad
76.8 sq mi
ZIP Area
110
Density / Sq Mi
$59,092
Median Household Income
$32,693
Median Earnings
$1,161
Median Rent
$291,400
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Five-bedroom, four-bath residence on a landscaped residential lot with public water service and established rental use.
Where is this multifamily property located?
The property is located at 17-7652 KULANI RD Mountain View, HI.
What is the asking price?
The asking price for this property is $469,500.
What are key features of this property?
This property features: 1,352‑square‑foot multifamily property with 5 bedrooms and 4 bathrooms; 8,051‑square‑foot lot measuring 0.1848 acres; RS‑20 zoning with public water service
