Two-Unit Duplex with
For Sale
$1,200,000
1025 Spencer Street, Honolulu, HI 96822
Flexible income property with separate recreation space, multiple utility meters, outdoor areas, and covered parking.
Property Size2,040 SF
Price / SF$588.24
Days on Market24
Property Features for 1025 Spencer Street
General Information
Standard status
Active
Size
2,040 SF
Total Parking Spaces
2
Property subtype
Multi Family
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 3BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,292
Amenities
washer/dryer setups
window AC
private side yard
Building Details
Building Size
2,040 SF
Year Built
1963
Listing Agency:
Tsujimura & Associates, LLC
Listed By:
Lester S Tsujimura · License #RB-15835
(808) 388-3630
Source:
Careyluxury
Added: Sep 12
Changed: Sep 22
Last Checked: Oct 4 at 2:59PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Tsujimura & Associates, LLC
Investment Insights
Based on property information with market context.
This 1963 duplex contains two residential units with distinct layouts. The upper residence offers 3 bedrooms, 2 bathrooms, and a 120-square-foot rear lanai, while the lower unit includes 1 bedroom and 1 bathroom. A separate recreation room with a wet bar and bathroom is rented independently, adding another functional component to the property.
The property has three separate electrical meters, two water meters, washer and dryer setups, window AC units, and a 2-car carport. Outdoor features include a private side yard with mature mountain apple, avocado, and lime trees. The property is located near Downtown Honolulu, Waikiki, the University of Hawaii, shopping, restaurants, freeway access, hospitals, and Honolulu International Airport.
The property has three separate electrical meters, two water meters, washer and dryer setups, window AC units, and a 2-car carport. Outdoor features include a private side yard with mature mountain apple, avocado, and lime trees. The property is located near Downtown Honolulu, Waikiki, the University of Hawaii, shopping, restaurants, freeway access, hospitals, and Honolulu International Airport.
Key Highlights
- Two residential units with 3‑bedroom/2‑bath and 1‑bedroom/1‑bath layouts
- 120‑square‑foot rear lanai serves the upstairs unit
- Separate recreation room with wet bar and bathroom rented independently
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,625
Cap Rate
3.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$812,500
$812.5K
Cap Rate 7%
$580,357
$580.4K
Cap Rate 9%
$451,389
$451.4K
Market Conditions
NOI Build-Up for 2,040 SF
Gross rent
$62.4K $30.60/SF
− Vacancy
−$4.4K −$2.15/SF
EGI
$58.0K $28.45/SF
− OpEx
−$17.4K −$8.53/SF
NOI
$40.6K $19.91/SF
Area
Honolulu County, HI
Vacancy
7.03%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$812,500
Cap Rate 7%
$580,357
Cap Rate 9%
$451,389
Alternative Uses
Best Use
Multifamily LT 5
$580.4K
$507.8K – $677.1K
NOI $40,625 @ 7.0% cap · market cap 3.39%
Second Best
Apartment 5plus
$534.3K
$467.5K – $623.4K
NOI $37,403 @ 7.0% cap · market cap 3.12%
Theoretical Best
Specialty Retail
$826.5K
$723.2K – $964.3K
NOI $57,855 @ 7.0% cap · market cap 4.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Demographics for 96822, HI
42,231
Population
19,960
Households
2.1
Avg Household Size
45
Median Age
58%
College-Educated
95%
High-School Grad
8.0 sq mi
ZIP Area
5,279
Density / Sq Mi
$95,594
Median Household Income
$49,159
Median Earnings
$1,736
Median Rent
$985,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Flexible income property with separate recreation space, multiple utility meters, outdoor areas, and covered parking.
Where is this duplex located?
The property is located at 1025 Spencer Street Honolulu, HI.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Two residential units with 3‑bedroom/2‑bath and 1‑bedroom/1‑bath layouts; 120‑square‑foot rear lanai serves the upstairs unit; Separate recreation room with wet bar and bathroom rented independently
