Triplex with Six-Car
1128 Alohi Way, Honolulu, HI 96814
For Sale
$2,042,250
Three separate residences offer flexible multifamily occupancy in an urban Honolulu setting.
Property Size3,572 SF
Lot Size0.14 Acres
Price / SF$571.74
Days on Market100
Property Features for 1128 Alohi Way
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Neighborhood
Highway Access
Units
Unit Mix
Multifamily Units
Building Details
Year Built
Listing Agency:
Coldwell Banker Island Prop
Listed By:
Thomas S Kiyabu · License HI RS-32870
(808) 372-4176
Source:
Paradisebrokers
Added: Aug 3
Changed: Oct 26
Last Checked: Nov 8 at 10:31AM
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 Coldwell Banker Island Prop
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Investment Insights
Based on property information with market context.
This triplex comprises three distinct living areas totaling approximately 3,572 square feet. The upper residence includes 3 bedrooms and 2 bathrooms across approximately 1,241 square feet, while the lower residence offers the same bedroom and bathroom count within approximately 1,201 square feet. An attached ADU, built in 1997, adds approximately 1,128 square feet with 3 bedrooms and 2 bathrooms. The property also includes a 6-car tandem carport, along with driveway and street parking.
Set on approximately 6,000 square feet of level land, the property is located in Honolulu’s Kakaako Community Development District near Kakaako, Ward Village, Ala Moana Center, Kaiser Permanente, beaches, restaurants, shopping, medical facilities, schools, and freeway access. The neighboring duplex may also be acquired on an additional 6,000 sq. ft. lot; buyers should verify any development possibilities.
Set on approximately 6,000 square feet of level land, the property is located in Honolulu’s Kakaako Community Development District near Kakaako, Ward Village, Ala Moana Center, Kaiser Permanente, beaches, restaurants, shopping, medical facilities, schools, and freeway access. The neighboring duplex may also be acquired on an additional 6,000 sq. ft. lot; buyers should verify any development possibilities.
Key Highlights
- Three living areas with approximately 9 bedrooms and 6 bathrooms total
- Approximately 3,572 sq. ft. of building area on approximately 6,000 sq. ft. of level land
- Attached 3‑bedroom, 2‑bath ADU built in 1997
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$71,133
Cap Rate
3.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,422,660
$1.4M
Cap Rate 7%
$1,016,186
$1.0M
Cap Rate 9%
$790,367
$790.4K
Market Conditions
NOI Build-Up for 3,572 SF
Gross rent
$109.3K $30.60/SF
− Vacancy
−$7.7K −$2.15/SF
EGI
$101.6K $28.45/SF
− OpEx
−$30.5K −$8.53/SF
NOI
$71.1K $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%
$1,422,660
Cap Rate 7%
$1,016,186
Cap Rate 9%
$790,367
Alternative Uses
Best Use
Multifamily LT 5
$1.02M
$889.2K – $1.19M
NOI $71,133 @ 7.0% cap · market cap 3.48%
Second Best
Apartment 5plus
$935.6K
$818.7K – $1.09M
NOI $65,492 @ 7.0% cap · market cap 3.21%
Theoretical Best
Specialty Retail
$1.45M
$1.27M – $1.69M
NOI $101,302 @ 7.0% cap · market cap 4.96%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Demographics for 96814, HI
24,870
Population
15,346
Households
1.6
Avg Household Size
47
Median Age
50%
College-Educated
93%
High-School Grad
1.2 sq mi
ZIP Area
20,725
Density / Sq Mi
$77,336
Median Household Income
$55,408
Median Earnings
$1,770
Median Rent
$706,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Three separate residences offer flexible multifamily occupancy in an urban Honolulu setting.
Where is this triplex located?
The property is located at 1128 Alohi Way Honolulu, HI.
What is the asking price?
The asking price for this property is $2,042,250.
What are key features of this property?
This property features: Three living areas with approximately 9 bedrooms and 6 bathrooms total; Approximately 3,572 sq. ft. of building area on approximately 6,000 sq. ft. of level land; Attached 3‑bedroom, 2‑bath ADU built in 1997
