Honolulu Multifamily Development
For Sale
$2,100,000
1525 Liholiho St, Honolulu, HI 96822
7,800 Sq.Ft Lot Fultifamily Residential Land in Honolulu, HI
Property Size7,800 SF
Lot Size0.18 Acres
Price / SF$269.23
Days on Market633
Property Features for 1525 Liholiho St
General Information
Standard status
Active
Property type
Residential income homes, Residential land & home lots, Other investment properties, Investment properties, Land
Size
7,800 SF
Elevators
N/A
Lot size
0.18 Acres
Building Details
Year Built
1939
Listed By:
Christina Dwight
(808) 429-1098
Added: Jan 10, 2025
Changed: Mar 16
Investment Insights
Based on property information with market context.
Located in Honolulu, this 7,800 square foot residential lot presents a development opportunity. Approved plans are included for the construction of a 37-unit multifamily building, comprising 17 studios, 15 one-bedroom/one-bathroom units, and 5 two-bedroom/two-bathroom units, along with 13 parking spaces. The project has a projected 80% AMI Pro Forma Gross Income of $1,023,680 and benefits from a 10-year tax exemption. A comprehensive due diligence package includes approved building plans (buyer responsible for future renewal), electrical site plan, building renderings (interior and exterior), building permit approvals, sewer connection approval, trenching permit, geotechnical reports, Phase 1 report, survey and ALTA survey, wastewater waiver, and DPP Certification of Affordable Dwellings. The lot is ready for immediate development, offering potential for investors seeking a multifamily project.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$155,331
Cap Rate
7.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,106,620
$3.1M
Cap Rate 7%
$2,219,014
$2.2M
Cap Rate 9%
$1,725,900
$1.7M
Market Conditions
NOI Build-Up for 7,800 SF
Gross rent
$238.7K $30.60/SF
− Vacancy
−$16.8K −$2.15/SF
EGI
$221.9K $28.45/SF
− OpEx
−$66.6K −$8.53/SF
NOI
$155.3K $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%
$3,106,620
Cap Rate 7%
$2,219,014
Cap Rate 9%
$1,725,900
Alternative Uses
Best Use
Multifamily LT 5
$2.22M
$1.94M – $2.59M
NOI $155,331 @ 7.0% cap · market cap 7.40%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.16M
$2.77M – $3.69M
NOI $221,209 @ 7.0% cap · market cap 10.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
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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Frequently Asked Questions
What type of property is this?
Residential income home - 7,800 Sq.Ft Lot Fultifamily Residential Land in Honolulu, HI
Where is this residential income home located?
The property is located at 1525 Liholiho St Honolulu, HI.
What is the asking price?
The asking price for this property is $2,100,000.
