Renovated Multifamily with Retail
54 Maluniu Avenue Kailua, HI 96734
54 Maluniu Avenue, Kailua, HI, 96734
$5,388,000
For Sale
$5,388,000
Renovated building with 10 apartments and 2 ground-floor retail units, plus covered parking for seven vehicles.
Property Size6,507 SF
Price / SF$828.03
Days on Market496
Property Features for 54 Maluniu Avenue
General Information
- Standard status
- Active
- Size
- 6,507 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1965
Listing agency
Standard Management LLC
(808) 208-8107
Listed by
Michael Okamoto
(808) 208-8107
Source
Xome
Added: Mar 13, 2025 Updated: Jul 21 at 8:02AM Checked: Jul 21 at 8:02AM
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 Standard Management LLC
Investment Insights
Based on property information with market context.
This renovated income property features 10 apartment units and two ground-floor retail units. Building improvements include replacement of all utilities, a new silicone waterproof roof, and commercial-grade gutter systems. Interior updates include new stainless steel appliances, updated flooring and interiors, fencing, and fresh painting. The apartments include dual-pane vinyl windows with balcony sliding doors, LED lighting, and split AC units in both bedrooms and living rooms. Each unit also includes an individual full-size stacked washer-dryer on its balcony.
Parking includes seven covered stalls and abundant street parking in the immediate area. The two retail spaces are positioned in a high-visibility retail corridor. The property is located just moments from Whole Foods Market and Kailua Beach, and the apartments and retail units are split into separate TMKs (1-4-3-31-27-1 & -2).
Parking includes seven covered stalls and abundant street parking in the immediate area. The two retail spaces are positioned in a high-visibility retail corridor. The property is located just moments from Whole Foods Market and Kailua Beach, and the apartments and retail units are split into separate TMKs (1-4-3-31-27-1 & -2).
Key Highlights
- Renovated 10‑apartment and 2 ground‑floor retail unit building (Year built: 1965) with split TMKs: 1‑4‑3‑31‑27‑1 & -2
- Major renovation work noted: replacement of all utilities, new silicone waterproof roof, commercial grade gutters, new stainless steel appliances, flooring, interiors, fencing, and painting
- Apartment units feature dual‑pane glass vinyl windows, balcony sliding doors, LED lighting, and split AC units (bedrooms and living rooms), plus stacked LG washer‑dryers on balconies
Local Financial Insights For Retail
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 | $258.5k | $39.72 |
| − Vacancy | −$12.4k | −$1.91 |
| EGI | $246.1k | $37.81 |
| − OpEx | −$73.8k | −$11.34 |
| NOI | $172.2k | $26.47 |
6,507 SF · lease $39.72/SF/yr · vacancy 4.80% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.46M
$2.15M – $2.87M
NOI $172,236 @ 7.0% cap · market cap 3.20%
Second Best
Apartment 5plus
$1.70M
$1.49M – $1.99M
NOI $119,305 @ 7.0% cap · market cap 2.21%
Theoretical Best
Specialty Retail
$2.64M
$2.31M – $3.08M
NOI $184,539 @ 7.0% cap · market cap 3.43%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Inspired Bakery
Bakery
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Renovated building with 10 apartments and 2 ground-floor retail units, plus covered parking for seven vehicles.
Where is this apartment building located?
The property is located at 54 Maluniu Avenue Kailua, HI.
What is the asking price?
The asking price for this property is $5,388,000.
What are key features of this property?
This property features: Renovated 10‑apartment and 2 ground‑floor retail unit building (Year built: 1965) with split TMKs: 1‑4‑3‑31‑27‑1 & -2; Major renovation work noted: replacement of all utilities, new silicone waterproof roof, commercial grade gutters, new stainless steel appliances, flooring, interiors, fencing, and painting; Apartment units feature dual‑pane glass vinyl windows, balcony sliding doors, LED lighting, and split AC units (bedrooms and living rooms), plus stacked LG washer‑dryers on balconies
