Kailua-Kona Multi-Family Income
73-1153 AHIKAWA ST Kailua Kona, HI 96740
73-1153 AHIKAWA ST, Kailua Kona, HI, 96740
$1,675,000
For Sale
$1,675,000
MULTI_FAMILY - Kailua-Kona, HI
Property Size3,930 SF
Lot Size0.42 Acres
Price / SF$426.21
Days on Market219
Property Features for 73-1153 AHIKAWA ST
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- A-5A
- Bedrooms
- 8
- Bathrooms
- 6
- Rooms
- Bathroom 2, Bedroom 5, Bathroom 6, Bedroom 3, Bedroom 6, Bathroom 5, Bedroom 7, Bedroom 2, Bedroom 4, Bathroom 3, Bathroom 1, Bedroom 8, Bedroom 1, Bathroom 4
- Appliances
- Dryer
- Standard status
- Active
- APN
- 3730220330000
- Size
- 3,930 SF
- Lot size
- 0.42 Acres
Taxes and HOA fees
- Tax Year
- 2023
- Tax Annual Amount
- 11177
Utilities
- Utilities
- Cable Available
- Sewer type
- Cesspool
- Water source
- Public
Building Details
- Year built
- 1988
- Floors in Building
- 2
- Flooring type
- Carpet
- Architectural style
- Other
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: Dec 11, 2025 Checked: Jul 18 at 4:06 pm
MLS# 726148
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 multi-family property in Kailua-Kona, Hawaii, presents an opportunity for both income generation and residential living. Situated above the airport at an ideal elevation, the property offers panoramic ocean and sunset views within a quiet neighborhood. Convenient access to Kailua-Kona town and the Kohala Gold Coast provides proximity to restaurants, shopping, and beaches. The property consists of two updated homes on a single lot. The north-located home features open-beam ceilings in the great room, dividing two bedroom suites, each with a walk-in closet, a four-piece bathroom, and sliding doors to private covered tiled lanais. The kitchen includes bright white cabinets and appliances. The guest quarters have 2 bedrooms and 1 full bath, a wet bar, cabinets, and vinyl and tile flooring, with west-side windows offering garden views. Separate entrances lead to the storage room and laundry. Two storage buildings are located towards the back of the property for yard tools and beach toys. The south-located home features a two-car carport and laundry closet, a new roof, and open-beam ceilings. It includes 3 bedrooms and 1 3/4 bath, with an updated kitchen, bathrooms, and tile floors. A covered lanai extends the full length of the house on both levels. The guest quarters offer 1 bedroom and 1 bath, an updated bathroom, a wet bar, cabinets, and vinyl and tile flooring. The property size is 3930 square feet, situated on a 0.416-acre lot.
Key Highlights
- Income property: Two updated homes on one lot, each with main living areas and separate guest quarters.
- Enjoy panoramic ocean and sunset views from an ideal elevation in a quiet neighborhood.
- Convenient access to Kailua‑Kona town and the Kohala Gold Coast, with restaurants, shopping, and beaches.
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 | $87.2k | $22.20 |
| − Vacancy | −$3.1k | −$0.78 |
| EGI | $84.2k | $21.42 |
| − OpEx | −$25.3k | −$6.43 |
| NOI | $58.9k | $15.00 |
3,930 SF · lease $22.20/SF/yr · vacancy 3.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$841.9K
$736.7K – $982.3K
NOI $58,935 @ 7.0% cap · market cap 3.52%
Second Best
Apartment 5plus
$771.2K
$674.8K – $899.7K
NOI $53,982 @ 7.0% cap · market cap 3.22%
Theoretical Best
Specialty Retail
$1.34M
$1.17M – $1.56M
NOI $93,886 @ 7.0% cap · market cap 5.61%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Multifamily property - Two updated homes on one lot with ocean and sunset views.
Where is this multifamily property located?
The property is located at 73-1153 AHIKAWA ST Kailua Kona, HI.
What is the asking price?
The asking price for this property is $1,675,000.
What are key features of this property?
This property features: Income property: Two updated homes on one lot, each with main living areas and separate guest quarters.; Enjoy panoramic ocean and sunset views from an ideal elevation in a quiet neighborhood.; Convenient access to Kailua‑Kona town and the Kohala Gold Coast, with restaurants, shopping, and beaches.
