Renovated 7-Unit Apartment
For Sale
$1,425,000
1812 Algaroba Street, Honolulu, HI 96826
Two separate structures offer updated finishes and convenient access to shopping, dining, and public transportation.
Days on Market32
Property Features for 1812 Algaroba Street
General Information
Standard status
Active
Property subtype
Industrial
Zoning
BMX-3
Units
Unit Mix
3 x 1BR, 4 x studio
Multifamily Units
7
Additional Details
Public Transit
Yes
Building Details
Building Size
2,340 SF
Year Built
1953
Buildings
2
Listing Agency:
REMAX Hawaii
(808) 738-3633
Listed By:
Myron N Kiriu · License #RB-17242
(808) 738-3633
Source:
Commercialinvestmentstrategies
Added: Jul 2
Changed: Jul 31
Last Checked: Aug 1 at 11:15AM
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
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 For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $84.2k | $36.00 |
| − Vacancy | −$6.2k | −$2.66 |
| EGI | $78.0k | $33.34 |
| − OpEx | −$35.1k | −$15.00 |
| NOI | $42.9k | $18.33 |
2,340 SF · lease $36.00/SF/yr · vacancy 7.40% · expense 45.00%
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.
Property Analytics
Current Use
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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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
