Renovated 7-Unit Apartment
1812 Algaroba Street, Honolulu, HI 96826
For Sale
$1,425,000
Pending
Two separate structures offer updated finishes and convenient access to shopping, dining, and public transportation.
Property Size2,340 SF
Days on Market136
Property Features for 1812 Algaroba Street
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Neighborhood
Public Transit
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Listing Agency:
REMAX Hawaii
Listed By:
Myron N Kiriu · License HI RB-17242
(808) 738-3633
Source:
Commercialinvestmentstrategies
Added: Jul 2
Changed: Nov 5
Last Checked: Nov 12 at 3:01PM
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 REMAX Hawaii
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Investment Insights
Based on property information with market context.
This 7-unit apartment property consists of two separate structures with a mix of three one-bedroom units and four studio units. The property was built in 1953 and has been recently renovated with vinyl plank flooring, fresh exterior paint, and updated finishes. A majority of the units are occupied, supporting ongoing rental income.
Located in McCully near shopping, dining, and public transportation, the property is zoned BMX-3 and offers access to established neighborhood amenities. The unit mix and two-structure configuration provide a range of apartment layouts within a single multifamily property.
Located in McCully near shopping, dining, and public transportation, the property is zoned BMX-3 and offers access to established neighborhood amenities. The unit mix and two-structure configuration provide a range of apartment layouts within a single multifamily property.
Key Highlights
- 7‑unit multifamily property with three one‑bedroom units and four studio units
- Two separate structures on one property
- Recently renovated with vinyl plank flooring, fresh exterior paint, and updated finishes
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,903
Cap Rate
3.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$858,060
$858.1K
Cap Rate 7%
$612,900
$612.9K
Cap Rate 9%
$476,700
$476.7K
Market Conditions
NOI Build-Up for 2,340 SF
Gross rent
$84.2K $36.00/SF
− Vacancy
−$6.2K −$2.66/SF
EGI
$78.0K $33.34/SF
− OpEx
−$35.1K −$15.00/SF
NOI
$42.9K $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%
$858,060
Cap Rate 7%
$612,900
Cap Rate 9%
$476,700
Alternative Uses
Best Use
Apartment 5plus
$612.9K
$536.3K – $715.1K
NOI $42,903 @ 7.0% cap · market cap 3.01%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$948.0K
$829.5K – $1.11M
NOI $66,363 @ 7.0% cap · market cap 4.66%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
7
Residential units
Location Intelligence
Demographics for 96826, HI
30,092
Population
16,564
Households
1.8
Avg Household Size
44
Median Age
38%
College-Educated
91%
High-School Grad
1.1 sq mi
ZIP Area
27,356
Density / Sq Mi
$67,743
Median Household Income
$44,393
Median Earnings
$1,604
Median Rent
$485,200
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Honolulu, HI
Properties on Market for Apartment buildings in Honolulu
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Two separate structures offer updated finishes and convenient access to shopping, dining, and public transportation.
Where is this apartment building located?
The property is located at 1812 Algaroba Street Honolulu, HI.
What is the asking price?
The asking price for this property is $1,425,000.
What are key features of this property?
This property features: 7‑unit multifamily property with three one‑bedroom units and four studio units; Two separate structures on one property; Recently renovated with vinyl plank flooring, fresh exterior paint, and updated finishes
