Triplex with Separate
For Sale
$1,000,000
318 Ohai Place, Wahiawa, HI 96786
Three residential units offer private outdoor areas, storage, laundry facilities, and four on-site parking spaces.
Property Size1,440 SF
Price / SF$694.44
Days on Market421
Property Features for 318 Ohai Place
General Information
Standard status
Active
Size
1,440 SF
Total Parking Spaces
4
Property subtype
Multi-Family / Multi-Family
Zoning
12 - A-2 Medium Density Apartme
Net Operating Income
$72,559
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
3
Amenities
storage
Partial
Dryer, Washer
Asphalt Shingle
Other, Storage
Other
Double Wall, Other, Wood Frame
Building Details
Year Built
1958
Listing Agency:
JBF Estates LLC
(808) 381-2650
Listed By:
Jerome Fa'asu · License #RB-23488
(808) 381-2650
Source:
Compass
Added: Jul 7, 2025
Changed: Aug 30
Last Checked: Aug 30 at 12:58PM
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 JBF Estates LLC
Investment Insights
Based on property information with market context.
This 1,440-square-foot triplex contains three residential units, each configured with two bedrooms and one bathroom. Separate entrances provide distinct access to each residence, while individual backyard areas include storage and wash spaces. The property also offers four parking spaces and additional storage beneath the building. Washer and dryer equipment is included, and the structure was built in 1958 with wood-frame construction and asphalt-shingle roofing.
The property is approximately two minutes from Schofield Barracks Army base and the Whitmore military housing installation. Shopping centers, restaurants, bus lines, and access to the H2 freeway are also nearby. The zoning designation is 12 - A-2 Medium Density Apartme.
The property is approximately two minutes from Schofield Barracks Army base and the Whitmore military housing installation. Shopping centers, restaurants, bus lines, and access to the H2 freeway are also nearby. The zoning designation is 12 - A-2 Medium Density Apartme.
Key Highlights
- Three‑unit property with 1,440 SF of building area
- Each unit includes 2 beds and 1 bath
- Separate entrances and individual backyards with storage and wash areas
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
$28,676
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
2.87%
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%
$573,520
$573.5K
Cap Rate 7%
$409,657
$409.7K
Cap Rate 9%
$318,622
$318.6K
Market Conditions
NOI Build-Up for 1,440 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
$44.1K $30.60/SF
− Vacancy
−$3.1K −$2.15/SF
EGI
$41.0K $28.45/SF
− OpEx
−$12.3K −$8.53/SF
NOI
$28.7K $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%
$573,520
Cap Rate 7%
$409,657
Cap Rate 9%
$318,622
Alternative Uses
Best Use
Multifamily LT 5
$409.7K
$358.5K – $477.9K
NOI $28,676 @ 7.0% cap · market cap 2.87%
Second Best
Apartment 5plus
$377.2K
$330.0K – $440.0K
NOI $26,402 @ 7.0% cap · market cap 2.64%
Theoretical Best
Specialty Retail
$583.4K
$510.5K – $680.7K
NOI $40,839 @ 7.0% cap · market cap 4.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Demographics for 96786, HI
41,217
Population
14,444
Households
2.9
Avg Household Size
28
Median Age
25%
College-Educated
94%
High-School Grad
89.2 sq mi
ZIP Area
462
Density / Sq Mi
$83,488
Median Household Income
$46,027
Median Earnings
$2,784
Median Rent
$724,400
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three residential units offer private outdoor areas, storage, laundry facilities, and four on-site parking spaces.
Where is this triplex located?
The property is located at 318 Ohai Place Wahiawa, HI.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Three‑unit property with 1,440 SF of building area; Each unit includes 2 beds and 1 bath; Separate entrances and individual backyards with storage and wash areas
