Duplex with Updated Electrical and
For Sale
$610,000
346 LEHUA ST, Hilo, HI 96720
MULTI_FAMILY - Hilo, HI
Property Size1,664 SF
Lot Size0.17 Acres
Price / SF$366.59
Days on Market49
Property Features for 346 LEHUA ST
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RM-1
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bathroom 2, Bedroom 2, Bedroom 3, Bathroom 1, Bedroom 1
Appliances
Range, Range Hood, Refrigerator, Washer/Dryer Stacked
Subdivision
PUUEO LOTS
Lot features
Grassy
View
Forest
Standard status
Active
APN
3260040340000
Size
1,664 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
2692
Utilities
Utilities
Cable Available
Building Details
Year built
1950
Floors in Building
2
Flooring type
Hardwood, Laminate, Tile - Ceramic
Architectural style
Other
Listing Agency:
Salt Water Real Estate LLC
(808) 491-2294
Listed By:
Sunita R Przewlocki
(808) 895-3900
Added: Jun 15
Changed: Jul 30
Last Checked: Aug 2 at 2:06AM
MLS# 731044
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 duplex on Lehua Street includes two spacious two-bedroom, one-bath units, with upgraded electrical and plumbing in both. The property sits on a 0.1722-acre lot and totals 1,664 SF. Built in 1950, it features an upstairs front lanai overlooking mature tropical landscaping and 9' ceilings with large double-hung windows. The upstairs open kitchen and living area were updated with granite countertops, new fixtures, and engineered hardwood floors, including a gas range and a stacked washer/dryer tucked into the pantry. The upstairs also includes a full hall bathroom and R-30 attic insulation.
The duplex is supplied with piped propane gas. A walking path leads to the lower unit, which opens into a screened lanai and has updates including vinyl flooring, drywall, fresh paint, LED lighting, and modern fixtures. The bright full bathroom includes custom tile work, and the lower unit also offers in-unit laundry and a hall closet for storage, plus a full-height basement below.
Situated in lava zone 8 just over the Wailuku River, the location is walkable to Downtown Hilo restaurants, K-12 public schools, the Farmers Market, public library, Kapalaoa Landing Beach Park, and the Bayfront recreation area.
The duplex is supplied with piped propane gas. A walking path leads to the lower unit, which opens into a screened lanai and has updates including vinyl flooring, drywall, fresh paint, LED lighting, and modern fixtures. The bright full bathroom includes custom tile work, and the lower unit also offers in-unit laundry and a hall closet for storage, plus a full-height basement below.
Situated in lava zone 8 just over the Wailuku River, the location is walkable to Downtown Hilo restaurants, K-12 public schools, the Farmers Market, public library, Kapalaoa Landing Beach Park, and the Bayfront recreation area.
Key Highlights
- Two two‑bedroom, one‑bath units with upgraded electrical and plumbing
- 0.1722‑acre lot totaling 1,664 SF, built in 1950
- Upstairs: 9' ceilings, granite countertops, gas range, R‑30 attic insulation
Financial Insights For Multifamily LT 5
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 | $36.9k | $22.20 |
| − Vacancy | −$1.3k | −$0.78 |
| EGI | $35.6k | $21.42 |
| − OpEx | −$10.7k | −$6.43 |
| NOI | $25.0k | $15.00 |
1,664 SF · lease $22.20/SF/yr · vacancy 3.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$356.5K
$311.9K – $415.9K
NOI $24,954 @ 7.0% cap · market cap 4.09%
Second Best
Apartment 5plus
$326.5K
$285.7K – $381.0K
NOI $22,857 @ 7.0% cap · market cap 3.75%
Theoretical Best
Specialty Retail
$567.9K
$496.9K – $662.5K
NOI $39,752 @ 7.0% cap · market cap 6.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Demographics for 96720, HI
46,615
Population
19,826
Households
2.4
Avg Household Size
43
Median Age
34%
College-Educated
95%
High-School Grad
287.8 sq mi
ZIP Area
162
Density / Sq Mi
$78,537
Median Household Income
$41,268
Median Earnings
$1,346
Median Rent
$458,100
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?
Duplex - Duplex in RM-1 zoning with two two-bedroom, one-bath units, each with upgraded electrical and plumbing.
Where is this duplex located?
The property is located at 346 LEHUA ST Hilo, HI.
What is the asking price?
The asking price for this property is $610,000.
What are key features of this property?
This property features: Two two‑bedroom, one‑bath units with upgraded electrical and plumbing; 0.1722‑acre lot totaling 1,664 SF, built in 1950; Upstairs: 9' ceilings, granite countertops, gas range, R‑30 attic insulation
