Multifamily Property with Additional
For Sale
$750,000
30 Kanoelani St, Hilo, HI 96720
Includes a permitted secondary structure while the primary living area requires substantial repairs.
Property Size2,592 SF
Price / SF$289.35
Days on Market50
Property Features for 30 Kanoelani St
General Information
Standard status
Active
Size
2,592 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
repairs need to be done
Additional Details
Unit Mix
1 x 1BR/2BA
Building Details
Year Built
1962
Buildings
2
Listing Agency:
Lei Po'o Real Estate LLC
(808) 769-9991
Listed By:
Oasis Hawai'i
(808) 209-0033
Source:
Myoasishawaii
Added: Jul 15
Changed: Aug 31
Last Checked: Aug 31 at 2:49PM
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 Lei Po'o Real Estate LLC
Investment Insights
Based on property information with market context.
This multifamily property occupies a little over half an acre and includes two structures. The primary building contains 1,948 square feet and is uninhabitable and unmaintained, with repairs required before use. Its enclosed porch is attached to the main home, was built in a workmanlike manner, and is unpermitted. A separate permitted structure provides 800 square feet with one bedroom and two bathrooms, offering usable space while the main building is addressed.
The grounds feature mature tropical landscaping, expansive outdoor areas, and rock walls. The property is situated in a community with access to nearby schools and shopping. Built in 1962, the offering is limited to cash buyers.
The grounds feature mature tropical landscaping, expansive outdoor areas, and rock walls. The property is situated in a community with access to nearby schools and shopping. Built in 1962, the offering is limited to cash buyers.
Key Highlights
- Two‑building multifamily property on a little over half an acre
- Primary building contains 1,948 square feet and is uninhabitable and unmaintained
- Permitted structure totals 800 square feet with 1 bedroom and 2 baths
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
$35,604
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
4.75%
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%
$712,080
$712.1K
Cap Rate 7%
$508,629
$508.6K
Cap Rate 9%
$395,600
$395.6K
Market Conditions
NOI Build-Up for 2,592 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
$66.9K $25.80/SF
− Vacancy
−$2.1K −$0.83/SF
EGI
$64.7K $24.97/SF
− OpEx
−$29.1K −$11.24/SF
NOI
$35.6K $13.74/SF
Area
Hawaii County, HI
Vacancy
3.20%
Lease Rate
$25.80 /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%
$712,080
Cap Rate 7%
$508,629
Cap Rate 9%
$395,600
Alternative Uses
Best Use
Apartment 5plus
$508.6K
$445.1K – $593.4K
NOI $35,604 @ 7.0% cap · market cap 4.75%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$884.6K
$774.0K – $1.03M
NOI $61,922 @ 7.0% cap · market cap 8.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Demographics for 96720, HI
46,615
Population
19,826
Households
2.4
Avg Household Size
43
Median Age
34%
College-Educated
95%
High-School Grad
287.8 sq mi
ZIP Area
162
Density / Sq Mi
$78,537
Median Household Income
$41,268
Median Earnings
$1,346
Median Rent
$458,100
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?
Multifamily property - Includes a permitted secondary structure while the primary living area requires substantial repairs.
Where is this multifamily property located?
The property is located at 30 Kanoelani St Hilo, HI.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Two‑building multifamily property on a little over half an acre; Primary building contains 1,948 square feet and is uninhabitable and unmaintained; Permitted structure totals 800 square feet with 1 bedroom and 2 baths
