R-4 Multi-Unit Property with 10
For Sale
$4,750,000
2521 TEXEIRA LP, Kalaheo, HI 96741
MULTI_FAMILY - Kalaheo, HI
Property Size9,462 SF
Lot Size1.61 Acres
Price / SF$502.01
Days on Market117
Property Features for 2521 TEXEIRA LP
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-4
Bedrooms
27
Bathrooms
13
Full bathrooms
12
Half bathrooms
1
Rooms
Bedroom 25, Bedroom 12, Bathroom 8, Bedroom 2, Bedroom 23, Bathroom 7, Bedroom 22, Bedroom 15, Bathroom 4, Bathroom 12, Bathroom 2, Bedroom 5, Bedroom 3, Bedroom 26, Bedroom 1, Bathroom 10, Bathroom 13, Bedroom 21, Bathroom 5, Bathroom 11, Bedroom 8, Bedroom 27, Bathroom 1, Bedroom 18, Bedroom 16, Bedroom 4, Bedroom 10, Bedroom 7, Bathroom 3, Bathroom 6, Bathroom 9, Bedroom 17, Bedroom 9, Bedroom 14, Bedroom 24, Bedroom 6, Bedroom 13, Bedroom 20, Bedroom 11, Bedroom 19
Subdivision
KALAHEO HOMESTEADS 1ST SERIES
Standard status
Active
APN
4230130130000
Size
9,462 SF
Lot size
1.61 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5938
Utilities
Utilities
Cable Available
Sewer type
Cesspool
Building Details
Year built
1952
Flooring type
Tile
Listing Agency:
Coldwell Banker Island Properties - Kauai · Coldwell Banker Real Estate
(808) 742-7561
Listed By:
Milo Spindt
(808) 631-7602
Added: Apr 8
Changed: Jul 31
Last Checked: Aug 2 at 5:06AM
MLS# 729349
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.
An R-4/Form-Based Code-zoned multi-unit property on a 1.61-acre parcel includes 10 free-standing dwellings of varying ages, conditions, and sizes. The parcel totals approximately 70,303 square feet and features moderate sloped topography, which can support flexible site planning. The property is described as having tile flooring, and it includes sewer service via a cesspool. Cable is available.
The site has approximately 467 feet of road frontage and is located off Papalina Road in a Kalaheo neighborhood on the southwest side of Kauai. Tenants are in long-term leases. For prospective buyers, the remarks request driving slowly if viewing from the road, and say buyers should not enter the property or disturb tenants. No showings will be allowed until a bona fide offer is conditionally accepted.
The remarks also note potential for ongoing income generation, redevelopment, renovation, CPR (Condominium Property Regime) conversion, and the possible addition of more dwellings.
The site has approximately 467 feet of road frontage and is located off Papalina Road in a Kalaheo neighborhood on the southwest side of Kauai. Tenants are in long-term leases. For prospective buyers, the remarks request driving slowly if viewing from the road, and say buyers should not enter the property or disturb tenants. No showings will be allowed until a bona fide offer is conditionally accepted.
The remarks also note potential for ongoing income generation, redevelopment, renovation, CPR (Condominium Property Regime) conversion, and the possible addition of more dwellings.
Key Highlights
- R‑4/Form‑Based Code zoning for a multi‑unit residential parcel
- 10 free‑standing dwellings of varying ages, conditions, and sizes
- Approx. 1.61‑acre parcel (70,303 SF) with moderate sloped topography
Financial Insights For Apartment 5plus
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 | $363.3k | $38.40 |
| − Vacancy | −$14.5k | −$1.54 |
| EGI | $348.8k | $36.86 |
| − OpEx | −$157.0k | −$16.59 |
| NOI | $191.8k | $20.28 |
9,462 SF · lease $38.40/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.74M
$2.40M – $3.20M
NOI $191,844 @ 7.0% cap · market cap 4.04%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.79M
$3.31M – $4.42M
NOI $265,067 @ 7.0% cap · market cap 5.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
10
Residential units
Yes
Paved road access
Location Intelligence
Demographics for 96741, HI
6,424
Population
2,474
Households
2.6
Avg Household Size
45
Median Age
41%
College-Educated
96%
High-School Grad
31.9 sq mi
ZIP Area
201
Density / Sq Mi
$106,777
Median Household Income
$43,304
Median Earnings
$1,706
Median Rent
$915,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - R-4 zoned parcel with 10 free-standing dwellings and long-term tenant leases, plus strong site planning flexibility.
Where is this apartment building located?
The property is located at 2521 TEXEIRA LP Kalaheo, HI.
What is the asking price?
The asking price for this property is $4,750,000.
What are key features of this property?
This property features: R‑4/Form‑Based Code zoning for a multi‑unit residential parcel; 10 free‑standing dwellings of varying ages, conditions, and sizes; Approx. 1.61‑acre parcel (70,303 SF) with moderate sloped topography
