Detached Duplex with
For Sale
$2,188,000
1439 Akuleana Place, Kailua, HI 96734
Two separately metered residences offer fenced yards, shared pool access, and flexible owner-occupant or rental use.
Property Size10,716 SF
Price / SF$204.18
Days on Market250
Property Features for 1439 Akuleana Place
General Information
Standard status
Active
Size
10,716 SF
Total Parking Spaces
6
Property subtype
Multi-Family / Multi-Family
Zoning
05 - R-5 Residential District
Site & Location
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 4BR/2BA, 1 x 2BR/1.5BA
Multifamily Units
2
Amenities
pool
fenced yards
lanai
Dryer, Individual, Washer
Asphalt Shingle
A/C
Pool
Above Ground, Double Wall, Hollow Tile, Wood Frame
Building Details
Year Built
1972
Buildings
2
Listing Agency:
Corcoran Pacific Properties
Listed By:
Marsha L Forsythe · License #RS-66449
(808) 589-2040
Source:
Compass
Added: Feb 8
Changed: Oct 11
Last Checked: Oct 16 at 10:30AM
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 Corcoran Pacific Properties
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Investment Insights
Based on property information with market context.
This multifamily property includes two detached residences totaling 10,716 square feet. The front home has 4 bedrooms and 2 baths, while the rear home provides 2 bedrooms and 1.5 baths. Each residence has its own fenced yard, and the property includes a large pool with a removable Guardian Pool Fence. A private walkway serves the rear home, supporting separation between the residences.
Electricity is separately metered for each home, and water may be sub-metered. Parking includes a 2-car garage plus space for 4 additional vehicles, with street parking also available. The front residence is vacant and features luxury vinyl plank and tile flooring along with split AC in the living room and primary bedroom. The rear home has a window AC unit in the primary bedroom, a usable lanai, and a lease extending through April 22, 2026. Built in 1972, the property is zoned 05 - R-5 Residential District and is located on a quiet cul-de-sac near schools, parks, Enchanted Lake Shopping Center, downtown Kailua, and Kailua Beach.
Electricity is separately metered for each home, and water may be sub-metered. Parking includes a 2-car garage plus space for 4 additional vehicles, with street parking also available. The front residence is vacant and features luxury vinyl plank and tile flooring along with split AC in the living room and primary bedroom. The rear home has a window AC unit in the primary bedroom, a usable lanai, and a lease extending through April 22, 2026. Built in 1972, the property is zoned 05 - R-5 Residential District and is located on a quiet cul-de-sac near schools, parks, Enchanted Lake Shopping Center, downtown Kailua, and Kailua Beach.
Key Highlights
- Two detached homes totaling 10,716 sq ft: 4‑bedroom/2‑bath and 2‑bedroom/1.5‑bath residences
- Large pool protected by a removable Guardian Pool Fence
- Separate fenced yards and a private walkway to the rear home
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$196,476
Cap Rate
8.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,929,520
$3.9M
Cap Rate 7%
$2,806,800
$2.8M
Cap Rate 9%
$2,183,067
$2.2M
Market Conditions
NOI Build-Up for 10,716 SF
Gross rent
$385.8K $36.00/SF
− Vacancy
−$28.5K −$2.66/SF
EGI
$357.2K $33.34/SF
− OpEx
−$160.8K −$15.00/SF
NOI
$196.5K $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 Rate 5%
$3,929,520
Cap Rate 7%
$2,806,800
Cap Rate 9%
$2,183,067
Alternative Uses
Best Use
Multifamily LT 5
$3.05M
$2.67M – $3.56M
NOI $213,400 @ 7.0% cap · market cap 9.75%
Second Best
Apartment 5plus
$2.81M
$2.46M – $3.27M
NOI $196,476 @ 7.0% cap · market cap 8.98%
Theoretical Best
Specialty Retail
$4.34M
$3.80M – $5.07M
NOI $303,907 @ 7.0% cap · market cap 13.89%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Demographics for 96734, HI
49,922
Population
18,208
Households
2.7
Avg Household Size
38
Median Age
53%
College-Educated
98%
High-School Grad
21.7 sq mi
ZIP Area
2,301
Density / Sq Mi
$131,554
Median Household Income
$56,374
Median Earnings
$3,297
Median Rent
$1,246,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two separately metered residences offer fenced yards, shared pool access, and flexible owner-occupant or rental use.
Where is this multifamily property located?
The property is located at 1439 Akuleana Place Kailua, HI.
What is the asking price?
The asking price for this property is $2,188,000.
What are key features of this property?
This property features: Two detached homes totaling 10,716 sq ft: 4‑bedroom/2‑bath and 2‑bedroom/1.5‑bath residences; Large pool protected by a removable Guardian Pool Fence; Separate fenced yards and a private walkway to the rear home
