Five-Unit Apartment
For Sale
$1,549,000
1578 Pele Street, Honolulu, HI 96813
Two structures offer tenant-occupied residential space with balcony views and convenient access to Honolulu institutions and services.
Property Size3,634 SF
Days on Market182
Property Features for 1578 Pele Street
General Information
Standard status
Active
Size
3,634 SF
Total Parking Spaces
3
Property subtype
Multi Family
Additional Details
Gross Income
$67,800
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$7,634
Amenities
ocean views
sunset views
mountain views
city views
Building Details
Building Size
3,634 SF
Year Built
1956
Buildings
2
Listing Agency:
Coldwell Banker Island Prop
Listed By:
Beverly Taira · License #RB-23375
(808) 875-7000
Source:
Commercialinvestmentstrategies
Added: Apr 8
Changed: Oct 6
Last Checked: Oct 5 at 11:17PM
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 Island Prop
Investment Insights
Based on property information with market context.
This 3,634-square-foot apartment property contains five units across two separate structures. Four units are currently generating rental income, while the layout includes a fifth unit. A three-vehicle carport serves the property, and the main unit has copper piping. Balcony outlooks include ocean, sunset, mountain, and city views.
The property is positioned near UH Manoa, HPU, community colleges, hospitals, downtown, and major conveniences. The asset is tenant-occupied, with showings requiring 48-hour notice. Built in 1956, it combines a multi-unit configuration with established residential improvements and on-site covered parking.
The property is positioned near UH Manoa, HPU, community colleges, hospitals, downtown, and major conveniences. The asset is tenant-occupied, with showings requiring 48-hour notice. Built in 1956, it combines a multi-unit configuration with established residential improvements and on-site covered parking.
Key Highlights
- Five units distributed across two separate structures
- 3,634 square feet of apartment space
- Four units currently generating rental income
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$66,629
Cap Rate
4.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,332,580
$1.3M
Cap Rate 7%
$951,843
$951.8K
Cap Rate 9%
$740,322
$740.3K
Market Conditions
NOI Build-Up for 3,634 SF
Gross rent
$130.8K $36.00/SF
− Vacancy
−$9.7K −$2.66/SF
EGI
$121.1K $33.34/SF
− OpEx
−$54.5K −$15.00/SF
NOI
$66.6K $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%
$1,332,580
Cap Rate 7%
$951,843
Cap Rate 9%
$740,322
Alternative Uses
Best Use
Apartment 5plus
$951.8K
$832.9K – $1.11M
NOI $66,629 @ 7.0% cap · market cap 4.30%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.47M
$1.29M – $1.72M
NOI $103,061 @ 7.0% cap · market cap 6.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5
Residential units
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
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Two structures offer tenant-occupied residential space with balcony views and convenient access to Honolulu institutions and services.
Where is this apartment building located?
The property is located at 1578 Pele Street Honolulu, HI.
What is the asking price?
The asking price for this property is $1,549,000.
What are key features of this property?
This property features: Five units distributed across two separate structures; 3,634 square feet of apartment space; Four units currently generating rental income
