Updated Duplex Estate with
For Sale
Under Contract
$4,256,000
28-1187 OLD MAMALAHOA HIGHWAY, Pepeekeo, HI 96783
Residential Income, Pepeekeo, HI
Property Size6,253 SF
Lot Size11.51 Acres
Price / SF$680.63
Days on Market699
Property Features for 28-1187 OLD MAMALAHOA HIGHWAY
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RS-10
Bedrooms
6
Bathrooms
8
Full bathrooms
7
Half bathrooms
1
Rooms
Bathroom 5, Bedroom 5, Bathroom 6, Bathroom 7, Bathroom 2, Bedroom 4, Bedroom 6, Bedroom 3, Bedroom 1, Bathroom 3, Bedroom 2, Bathroom 4, Bathroom 8, Bathroom 1
Parking features
Covered
Security features
Security System
Window features
Blinds
Interior features
Enclosed Lanai, High Ceilings, Vaulted Ceiling(s)
Exterior features
Lighting
Appliances
Dryer, Electric Cooktop, Freezer, Microwave, Range, Range Hood, Refrigerator, Washer
Lot features
Cleared, Farm, Grassy, Landscaped
View
Ocean
Subdivision
South Hilo
Standard status
Active Under Contract
APN
3280070830000
Size
6,253 SF
Lot size
11.51 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
23715
Utilities
Utilities
Cable Available
Sewer type
Cesspool
Amenities
producing longan orchard
mature fruit trees
stream frontage
gated
gazebo with hot tub
solar hot water heater
grid-tied photovoltaic system
detached 10+ car garage
Building Details
Year built
2004
Floors in Building
2
Flooring type
Stone, Vinyl
Additional Structures
Gazebo
Listing Agency:
Salt Water Real Estate LLC
(808) 491-2294
Listed By:
Sunita R Przewlocki · License #RB-23326
(808) 895-3900
Added: Nov 7, 2024
Changed: Sep 15
Last Checked: Oct 7 at 11:06PM
MLS# 715590
Copyright © 2026 Hawaii Information Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This RS-10 duplex estate comprises two updated homes totaling 6,253 square feet on 11.51 acres. The primary residence offers three bedrooms, 3.5 bathrooms, a split-bedroom layout, open great room, enclosed lanai, natural stone flooring, quartz kitchen counters, high-end appliances, and a recreation room. A second two-story home provides three bedrooms and three bathrooms following a comprehensive 2020 renovation. Both residences are complemented by covered parking, mature landscaping, and a producing longan orchard with additional fruit trees.
The property includes ocean views, stream frontage, municipal water, underground power, fast internet, and a grid-tied photovoltaic system. A detached garage accommodates more than 10 vehicles and includes its own facilities. RS-10 zoning supports the stated subdivision potential and new ADU options. The estate is positioned along Old Mamalahoa Highway, approximately 10 minutes from Hilo, with access to the surrounding Hamakua Coast landscape and Onomea Bay area.
The property includes ocean views, stream frontage, municipal water, underground power, fast internet, and a grid-tied photovoltaic system. A detached garage accommodates more than 10 vehicles and includes its own facilities. RS-10 zoning supports the stated subdivision potential and new ADU options. The estate is positioned along Old Mamalahoa Highway, approximately 10 minutes from Hilo, with access to the surrounding Hamakua Coast landscape and Onomea Bay area.
Key Highlights
- 11.51‑acre estate with 6,253 square feet across two residences
- Two homes: a 3‑bedroom, 3.5‑bath residence and a 3‑bedroom, 3‑bath two‑story home
- Second residence comprehensively renovated in 2020
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$131,182
Cap Rate
3.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,623,640
$2.6M
Cap Rate 7%
$1,874,029
$1.9M
Cap Rate 9%
$1,457,578
$1.5M
Market Conditions
NOI Build-Up for 6,253 SF
Gross rent
$202.6K $32.40/SF
− Vacancy
−$15.2K −$2.43/SF
EGI
$187.4K $29.97/SF
− OpEx
−$56.2K −$8.99/SF
NOI
$131.2K $20.98/SF
Area
Maui County, HI
Vacancy
7.50%
Lease Rate
$32.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,623,640
Cap Rate 7%
$1,874,029
Cap Rate 9%
$1,457,578
Alternative Uses
Best Use
Multifamily LT 5
$1.87M
$1.64M – $2.19M
NOI $131,182 @ 7.0% cap · market cap 3.08%
Second Best
Apartment 5plus
$1.68M
$1.47M – $1.96M
NOI $117,619 @ 7.0% cap · market cap 2.76%
Theoretical Best
Specialty Retail
$2.53M
$2.21M – $2.95M
NOI $177,068 @ 7.0% cap · market cap 4.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Demographics for 96783, HI
2,222
Population
660
Households
3.4
Avg Household Size
42
Median Age
32%
College-Educated
86%
High-School Grad
8.3 sq mi
ZIP Area
268
Density / Sq Mi
$65,313
Median Household Income
$41,286
Median Earnings
$805
Median Rent
$485,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two renovated residences share gated grounds with ocean views, mature fruit trees, and practical agricultural improvements.
Where is this duplex located?
The property is located at 28-1187 OLD MAMALAHOA HIGHWAY Pepeekeo, HI.
What is the asking price?
The asking price for this property is $4,256,000.
What are key features of this property?
This property features: 11.51‑acre estate with 6,253 square feet across two residences; Two homes: a 3‑bedroom, 3.5‑bath residence and a 3‑bedroom, 3‑bath two‑story home; Second residence comprehensively renovated in 2020
