Updated Two-Unit
For Sale
Under Contract
$610,000
346 LEHUA ST, Hilo, HI 96720
Residential Income, Duplex, Hilo, HI
Property Size1,664 SF
Lot Size0.17 Acres
Price / SF$366.59
Days on Market116
Property Features for 346 LEHUA ST
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RM-1
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 1, Bedroom 4, Bedroom 1, Bathroom 2, Bedroom 3
Appliances
Range, Range Hood, Refrigerator, Washer/Dryer Stacked
Subdivision
PUUEO LOTS
Lot features
Grassy
View
Forest
Standard status
Active Under Contract
APN
3260040340000
Size
1,664 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
2692
Utilities
Utilities
Cable Available
Building Details
Year built
1950
Floors in Building
2
Flooring type
Hardwood, Tile - Ceramic, Laminate
Architectural style
Other
Listing Agency:
Salt Water Real Estate LLC
(808) 491-2294
Listed By:
Sunita R Przewlocki · License #RB-23326
(808) 895-3900
Added: Jun 15
Changed: Sep 29
Last Checked: Oct 8 at 1:06AM
MLS# 731044
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 1950 duplex contains two 2-bedroom, 1-bath residences within 1,664 square feet. Both units feature updated electrical and plumbing, separate laundry, and distinct outdoor living areas. The upper residence includes 9-foot ceilings, large double-hung windows, a front lanai, granite kitchen countertops, engineered hardwood flooring, and a gas range. The lower residence offers a screened lanai, vinyl flooring, drywall, fresh paint, LED lighting, modern fixtures, and custom bathroom tile. A full-height basement provides additional storage space, while the backyard includes tropical landscaping, lawn, and mature citrus trees.
The property occupies 0.1722 acres at 346 Lehua Street in Hilo, within lava zone 8 and zoned RM-1. Downtown Hilo, restaurants, K-12 public schools, the Farmers Market, public library, Kapalaoa Landing Beach Park, and the Bayfront recreation area are all described as walkable from the property. Cable is available, and the property has piped propane gas.
The property occupies 0.1722 acres at 346 Lehua Street in Hilo, within lava zone 8 and zoned RM-1. Downtown Hilo, restaurants, K-12 public schools, the Farmers Market, public library, Kapalaoa Landing Beach Park, and the Bayfront recreation area are all described as walkable from the property. Cable is available, and the property has piped propane gas.
Key Highlights
- Two 2‑bedroom, 1‑bath units within 1,664 square feet
- Built in 1950 on a 0.1722‑acre parcel
- RM‑1 zoning and lava zone 8 designation
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,954
Cap Rate
4.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$499,080
$499.1K
Cap Rate 7%
$356,486
$356.5K
Cap Rate 9%
$277,267
$277.3K
Market Conditions
NOI Build-Up for 1,664 SF
Gross rent
$36.9K $22.20/SF
− Vacancy
−$1.3K −$0.78/SF
EGI
$35.6K $21.42/SF
− OpEx
−$10.7K −$6.43/SF
NOI
$25.0K $15.00/SF
Area
Hawaii County, HI
Vacancy
3.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$499,080
Cap Rate 7%
$356,486
Cap Rate 9%
$277,267
Alternative Uses
Best Use
Multifamily LT 5
$356.5K
$311.9K – $415.9K
NOI $24,954 @ 7.0% cap · market cap 4.09%
Second Best
Apartment 5plus
$326.5K
$285.7K – $381.0K
NOI $22,857 @ 7.0% cap · market cap 3.75%
Theoretical Best
Specialty Retail
$567.9K
$496.9K – $662.5K
NOI $39,752 @ 7.0% cap · market cap 6.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Demographics for 96720, HI
46,615
Population
19,826
Households
2.4
Avg Household Size
43
Median Age
34%
College-Educated
95%
High-School Grad
287.8 sq mi
ZIP Area
162
Density / Sq Mi
$78,537
Median Household Income
$41,268
Median Earnings
$1,346
Median Rent
$458,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Duplex - Two residences offer refreshed interiors, private outdoor areas, in-unit laundry, and access to Downtown Hilo amenities.
Where is this duplex located?
The property is located at 346 LEHUA ST Hilo, HI.
What is the asking price?
The asking price for this property is $610,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units within 1,664 square feet; Built in 1950 on a 0.1722‑acre parcel; RM‑1 zoning and lava zone 8 designation
