7-Unit Apartment
For Sale
$3,050,000
718 10th Ave, Honolulu, HI 96816
Apartment property positioned near bus service, Kahala Mall, Diamond Head, and freeway access.
Property Size15,000 SF
Price / SF$203.33
Days on Market41
Property Features for 718 10th Ave
General Information
Standard status
Active
Size
15,000 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
7
Building Details
Year Built
1938
Listing Agency:
Coldwell Banker Realty
(808) 227-3808
Listed By:
Pacific Properties Hawaii
(808) 227-3808
Source:
Pacificpropertieshawaii
Added: Jul 20
Changed: Aug 28
Last Checked: Aug 28 at 10:17AM
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 Realty
Investment Insights
Based on property information with market context.
This apartment building contains 7 units and measures 15,000 square feet. Constructed in 1938, the property offers an established multifamily configuration at 718 10th Ave in Honolulu.
The surrounding area provides access to a nearby bus line, Kahala Mall, Diamond Head, and freeway connections. These transportation and destination points are located in the broader vicinity of the property.
The surrounding area provides access to a nearby bus line, Kahala Mall, Diamond Head, and freeway connections. These transportation and destination points are located in the broader vicinity of the property.
Key Highlights
- 7‑unit apartment building
- 15,000‑square‑foot property
- Constructed in 1938
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$275,022
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.02%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,500,440
$5.5M
Cap Rate 7%
$3,928,886
$3.9M
Cap Rate 9%
$3,055,800
$3.1M
Market Conditions
NOI Build-Up for 15,000 SF
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.
Gross rent
$540.0K $36.00/SF
− Vacancy
−$40.0K −$2.66/SF
EGI
$500.0K $33.34/SF
− OpEx
−$225.0K −$15.00/SF
NOI
$275.0K $18.33/SF
Area
Honolulu County, HI
Vacancy
7.40%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,500,440
Cap Rate 7%
$3,928,886
Cap Rate 9%
$3,055,800
Alternative Uses
Best Use
Apartment 5plus
$3.93M
$3.44M – $4.58M
NOI $275,022 @ 7.0% cap · market cap 9.02%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.08M
$5.32M – $7.09M
NOI $425,401 @ 7.0% cap · market cap 13.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
Yes
Highway access
Location Intelligence
Demographics for 96816, HI
51,586
Population
19,818
Households
2.6
Avg Household Size
45
Median Age
48%
College-Educated
94%
High-School Grad
9.6 sq mi
ZIP Area
5,374
Density / Sq Mi
$114,744
Median Household Income
$48,929
Median Earnings
$1,879
Median Rent
$1,121,400
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Apartment property positioned near bus service, Kahala Mall, Diamond Head, and freeway access.
Where is this apartment building located?
The property is located at 718 10th Ave Honolulu, HI.
What is the asking price?
The asking price for this property is $3,050,000.
What are key features of this property?
This property features: 7‑unit apartment building; 15,000‑square‑foot property; Constructed in 1938
