Building Details

Year built 1972

Floors in Building 1

Flooring type Vinyl, Laminate, Concrete

Architectural style Other

Listing Agency: Nathalie Mullinix Realty Universal, Inc. Show Phone

Listed By: Nathalie C Mullinix Show Phone

Added: Oct 17 Last Checked: Oct 19 at 8:06AM

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MLS# 734335

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Investment Insights

Based on property information with market context.

This multifamily property in Keaau comprises three buildings arranged as five rentals. The improvements total 1,556 square feet and were built in 1972. The parcel spans 1 acre and is zoned A-1A.

Water is supplied by a catchment system, with electricity available and a cesspool serving the property. The site is identified as Lava Zone 3. Its location offers access to amenities in both Hilo and Pahoa.

Key Highlights

• Three buildings configured as five rentals
• 1,556 square feet of property improvements
• 1‑acre parcel zoned A‑1A

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$21,373

Cap Rate

3.89%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$427,460 $427.5K

Cap Rate 7%

$305,329 $305.3K

Cap Rate 9%

$237,478 $237.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,556 SF

Gross rent

$40.1K $25.80/SF

− Vacancy

−$1.3K −$0.83/SF

EGI

$38.9K $24.97/SF

− OpEx

−$17.5K −$11.24/SF

NOI

$21.4K $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 Rate 5%

$427,460

Cap Rate 7%

$305,329

Cap Rate 9%

$237,478

Alternative Uses

Best Use

Apartment 5plus

$305.3K

$267.2K – $356.2K (±1% cap)

NOI $21,373 @ 7.0% cap · market cap 3.89%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$531.0K

$464.7K – $619.5K (±1% cap)

NOI $37,172 @ 7.0% cap · market cap 6.76%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Multifamily properties

Lease Details

5

Residential units

Yes

Paved road access

Location Intelligence

Demographics for 96749, HI

20,503

Population

7,545

Households

2.7

Avg Household Size

42

Median Age

23%

College-Educated

92%

High-School Grad

59.8 sq mi

ZIP Area

343

Density / Sq Mi

$74,633

Median Household Income

$41,366

Median Earnings

$1,268

Median Rent

$396,400

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

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Frequently Asked Questions

What type of property is this?

Multifamily property - Three separate structures provide five rental units on a one-acre parcel.

Where is this multifamily property located?

The property is located at 15-1721 25TH AVE Keaau, HI.

What is the asking price?

The asking price for this property is $550,000.

What are key features of this property?

This property features: Three buildings configured as five rentals; 1,556 square feet of property improvements; 1‑acre parcel zoned A‑1A