Four-Unit Apartment
For Sale
$895,000
37 Kauila Street Unit A, Honolulu, HI 96817
Four separately metered units offer a varied apartment mix with recent property improvements.
Property Size1,976 SF
Price / SF$452.94
Days on Market175
Property Features for 37 Kauila Street Unit A
General Information
Standard status
Active
Size
1,976 SF
Property subtype
Multi-Family / Multi-Family
Zoning
11 - A-1 Low Density Apartment
Net Operating Income
$54,800
Units
Unit Mix
1 x 5BR/1BA, 1 x 2BR/1BA, 2 x 1BR
Multifamily Units
4
Amenities
Asphalt Shingle
Double Wall
Building Details
Year Built
1923
Listing Agency:
Coldwell Banker Realty
(808) 676-7200
Listed By:
Joyce Yu Guan · License #RS-83507
(808) 676-7200
Source:
Compass
Added: Mar 11
Changed: Aug 30
Last Checked: Aug 31 at 10:29PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This 1,976-square-foot apartment building contains four units: one 5-bedroom, 1-bathroom residence, one 2-bedroom, 1-bathroom residence, and two 1-bedroom residences. The property was built in 1923 and has received work involving plumbing and pipes, kitchens, flooring, electrical systems, and interior painting. The roof was replaced in 2017.
Located at 37 Kauila Street, Unit A, in Honolulu, the property is zoned 11 - A-1 Low Density Apartment. Each unit has its own electric meter, and the building has no maintenance fee. The sale is offered AS IS, with offers subject to inspection. Tenant privacy is requested during the offering process.
Located at 37 Kauila Street, Unit A, in Honolulu, the property is zoned 11 - A-1 Low Density Apartment. Each unit has its own electric meter, and the building has no maintenance fee. The sale is offered AS IS, with offers subject to inspection. Tenant privacy is requested during the offering process.
Key Highlights
- Four‑unit configuration with one 5‑bedroom, 1‑bathroom unit, one 2‑bedroom, 1‑bathroom unit, and two 1‑bedroom units
- 1,976 square feet of apartment space
- Zoned 11 - A‑1 Low Density Apartment
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
$39,350
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
4.40%
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%
$787,000
$787.0K
Cap Rate 7%
$562,143
$562.1K
Cap Rate 9%
$437,222
$437.2K
Market Conditions
NOI Build-Up for 1,976 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
$60.5K $30.60/SF
− Vacancy
−$4.3K −$2.15/SF
EGI
$56.2K $28.45/SF
− OpEx
−$16.9K −$8.53/SF
NOI
$39.4K $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%
$787,000
Cap Rate 7%
$562,143
Cap Rate 9%
$437,222
Alternative Uses
Best Use
Multifamily LT 5
$562.1K
$491.9K – $655.8K
NOI $39,350 @ 7.0% cap · market cap 4.40%
Second Best
Apartment 5plus
$517.6K
$452.9K – $603.8K
NOI $36,230 @ 7.0% cap · market cap 4.05%
Theoretical Best
Specialty Retail
$800.6K
$700.5K – $934.0K
NOI $56,040 @ 7.0% cap · market cap 6.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Demographics for 96817, HI
56,823
Population
21,489
Households
2.6
Avg Household Size
46
Median Age
30%
College-Educated
84%
High-School Grad
9.3 sq mi
ZIP Area
6,110
Density / Sq Mi
$74,690
Median Household Income
$42,492
Median Earnings
$1,419
Median Rent
$930,000
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?
Quadplex - Four separately metered units offer a varied apartment mix with recent property improvements.
Where is this quadplex located?
The property is located at 37 Kauila Street Unit A Honolulu, HI.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Four‑unit configuration with one 5‑bedroom, 1‑bathroom unit, one 2‑bedroom, 1‑bathroom unit, and two 1‑bedroom units; 1,976 square feet of apartment space; Zoned 11 - A‑1 Low Density Apartment
