Private-Entry
New
For Sale
$1,895,000
1628 9th Avenue, Honolulu, HI 96816
Four-unit residential property with individual entrances, updated kitchen finishes, and access to transportation and neighborhood services.
Property Size4,752 SF
Price / SF$398.78
Days on Market5
Property Features for 1628 9th Avenue
General Information
Standard status
Active
Size
4,752 SF
Property subtype
Multi Family
Units
Unit Mix
4 x 3BR/2BA
Multifamily Units
4
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$13,989
Building Details
Building Size
4,752 SF
Year Built
2008
Listing Agency:
Coldwell Banker Realty
(808) 497-7967
Listed By:
Maria Kawananakoa · License #RS-72884
(808) 497-7967
Source:
Careyluxury
Added: Aug 18
Changed: Aug 22
Last Checked: Aug 22 at 4:02AM
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 Realty
Investment Insights
Based on property information with market context.
Built in 2008, this 4,752-square-foot quadplex contains four residential units, each with three bedrooms and two bathrooms. Every unit has a separate entrance, tile flooring, natural light, granite countertops, and stainless steel appliances. The configuration provides 12 bedrooms and 8 bathrooms across the property.
The property is situated in Palolo Valley with access to public transportation, shopping, dining, and other neighborhood amenities. Major thoroughfares are also readily accessible, supporting convenient connections throughout the surrounding area.
The property is situated in Palolo Valley with access to public transportation, shopping, dining, and other neighborhood amenities. Major thoroughfares are also readily accessible, supporting convenient connections throughout the surrounding area.
Key Highlights
- Four‑unit property with 12 bedrooms and 8 bathrooms
- Each unit includes 3 bedrooms and 2 bathrooms
- 4,752‑square‑foot property built in 2008
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
$94,632
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
4.99%
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%
$1,892,640
$1.9M
Cap Rate 7%
$1,351,886
$1.4M
Cap Rate 9%
$1,051,467
$1.1M
Market Conditions
NOI Build-Up for 4,752 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
$145.4K $30.60/SF
− Vacancy
−$10.2K −$2.15/SF
EGI
$135.2K $28.45/SF
− OpEx
−$40.6K −$8.53/SF
NOI
$94.6K $19.91/SF
Area
Honolulu County, HI
Vacancy
7.03%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
30.00%
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%
$1,892,640
Cap Rate 7%
$1,351,886
Cap Rate 9%
$1,051,467
Alternative Uses
Best Use
Multifamily LT 5
$1.35M
$1.18M – $1.58M
NOI $94,632 @ 7.0% cap · market cap 4.99%
Second Best
Apartment 5plus
$1.24M
$1.09M – $1.45M
NOI $87,127 @ 7.0% cap · market cap 4.60%
Theoretical Best
Specialty Retail
$1.93M
$1.68M – $2.25M
NOI $134,767 @ 7.0% cap · market cap 7.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Demographics for 96816, HI
51,586
Population
19,818
Households
2.6
Avg Household Size
45
Median Age
48%
College-Educated
94%
High-School Grad
9.6 sq mi
ZIP Area
5,374
Density / Sq Mi
$114,744
Median Household Income
$48,929
Median Earnings
$1,879
Median Rent
$1,121,400
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?
Quadplex - Four-unit residential property with individual entrances, updated kitchen finishes, and access to transportation and neighborhood services.
Where is this quadplex located?
The property is located at 1628 9th Avenue Honolulu, HI.
What is the asking price?
The asking price for this property is $1,895,000.
What are key features of this property?
This property features: Four‑unit property with 12 bedrooms and 8 bathrooms; Each unit includes 3 bedrooms and 2 bathrooms; 4,752‑square‑foot property built in 2008
