Multifamily Property with Shared
1453 Pele Street, Honolulu, HI 96813
For Sale
$995,000
A two-level residential building combines private apartments with a lower floor of individual bedrooms and shared kitchen and bath space.
Property Size2,383 SF
Price / SF$417.54
Days on Market173
Property Features for 1453 Pele Street
General Information
Standard status
Size
Property subtype
Zoning
Property Condition
Severity
Evidence
Site & Location
Neighborhood
Highway Access
Public Transit
Additional Details
Currently Operating
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
Central Oahu Real Estate LLC
Listed By:
Joshua K Martin · License HI RB-24600
(808) 989-6775
Source:
Hometownhawaiirealty
Added: May 22
Changed: Nov 7
Last Checked: Nov 9 at 7:14PM
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 Central Oahu Real Estate LLC
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Investment Insights
Based on property information with market context.
This 2,383-square-foot multifamily property dates to 1952 and has two levels. Upstairs are two separate two-bedroom, one-bath apartments. The lower level contains nine individual bedrooms with shared kitchen and bathroom facilities. The building requires substantial renovation and is offered as-is; its zoning is identified as A-2 Apartment.
The property is on Pele Street in Honolulu, near downtown, The Queen’s Medical Center, freeway access, and public transportation.
The property is on Pele Street in Honolulu, near downtown, The Queen’s Medical Center, freeway access, and public transportation.
Key Highlights
- 2,383‑square‑foot multifamily property built in 1952
- Two upper‑level apartments, each with 2 bedrooms and 1 bathroom
- Lower level has 9 individual bedrooms with shared kitchen and bath facilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,692
Cap Rate
4.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$873,840
$873.8K
Cap Rate 7%
$624,171
$624.2K
Cap Rate 9%
$485,467
$485.5K
Market Conditions
NOI Build-Up for 2,383 SF
Gross rent
$85.8K $36.00/SF
− Vacancy
−$6.3K −$2.66/SF
EGI
$79.4K $33.34/SF
− OpEx
−$35.7K −$15.00/SF
NOI
$43.7K $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%
$873,840
Cap Rate 7%
$624,171
Cap Rate 9%
$485,467
Alternative Uses
Best Use
Apartment 5plus
$624.2K
$546.2K – $728.2K
NOI $43,692 @ 7.0% cap · market cap 4.39%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$965.5K
$844.8K – $1.13M
NOI $67,582 @ 7.0% cap · market cap 6.79%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
Yes
Highway access
Location Intelligence
Demographics for 96813, HI
27,372
Population
13,511
Households
2
Avg Household Size
43
Median Age
48%
College-Educated
96%
High-School Grad
3.6 sq mi
ZIP Area
7,603
Density / Sq Mi
$87,799
Median Household Income
$57,619
Median Earnings
$1,821
Median Rent
$804,100
Median Home Value
Check the figures for this property
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Market
Average Price Trend$/SF for Multifamily properties in Honolulu, HI
Properties on Market for Multifamily properties in Honolulu
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - A two-level residential building combines private apartments with a lower floor of individual bedrooms and shared kitchen and bath space.
Where is this multifamily property located?
The property is located at 1453 Pele Street Honolulu, HI.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 2,383‑square‑foot multifamily property built in 1952; Two upper‑level apartments, each with 2 bedrooms and 1 bathroom; Lower level has 9 individual bedrooms with shared kitchen and bath facilities
