Multifamily Property with Solar
For Sale
$3,800,000
Pending
3702 Old Pali Road, Honolulu, HI 96817
Four residences, covered parking, solar generation, and a 2024 aluminum roof support a diversified residential configuration.
Property Size6,706 SF
Lot Size0.53 Acres
Days on Market207
Property Features for 3702 Old Pali Road
General Information
Standard status
Pending
Size
6,706 SF
Total Parking Spaces
7
Lot size
0.53 Acres
Property subtype
Residential / Single Family
Zoning
03 - R10 - Residential District
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
1 x 4BR/2.5BA, 3 x 1BR
Multifamily Units
4
Additional Details
Gross Income
$105,600
Amenities
solar panels
Tesla batteries
fruit trees
Full
5
1
7.0
5.01
Aluminum/Steel
Ceramic Tile, Hardwood
Bedroom on 1st Floor, Entry, Full Bath on 1st Floor, Landscaped, Patio/Deck, Storage, Workshop
Key
Double Wall, Slab, Wood Frame
Building Details
Year Built
2002
Listing Agency:
Hawaii Life
Listed By:
Dan Madden · License #RB-15535
(808) 384-9933
Source:
Compass
Added: Mar 13
Changed: Oct 4
Last Checked: Oct 4 at 1:19PM
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 Hawaii Life
Investment Insights
Based on property information with market context.
Set on a 22,916-square-foot parcel at 3702 Old Pali Road, this 6,706-square-foot multifamily property includes a two-story four-bedroom main residence and three separate one-bedroom rentals. The principal home measures 3,683 SF and includes 2.5 baths, a three-car garage, a spiral staircase, detailed woodwork, and a coral fireplace. Each rental provides a kitchen, laundry area, and full bath, with unit sizes of 1,057 SF, 1,106 SF, and 860 SF. Covered parking is provided with the rental units, along with additional parking on the property.
The property is zoned 03 - R10 - Residential District and was built in 2002. A 2024 standing-seam aluminum roof serves the main house. Energy improvements include 71 solar PV panels and two Tesla batteries. Mature trees, fruit trees, plantings, and the Niniko Stream contribute to the site's residential setting, just off Pali Highway in Nuuanu Valley.
The property is zoned 03 - R10 - Residential District and was built in 2002. A 2024 standing-seam aluminum roof serves the main house. Energy improvements include 71 solar PV panels and two Tesla batteries. Mature trees, fruit trees, plantings, and the Niniko Stream contribute to the site's residential setting, just off Pali Highway in Nuuanu Valley.
Key Highlights
- 6,706 square feet of living space on a 22,916‑square‑foot parcel
- Four‑bedroom, 3,683 SF main residence with 2.5 baths and a three‑car garage
- Three separate one‑bedroom rentals measuring 1,057 SF, 1,106 SF, and 860 SF
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$122,953
Cap Rate
3.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,459,060
$2.5M
Cap Rate 7%
$1,756,471
$1.8M
Cap Rate 9%
$1,366,144
$1.4M
Market Conditions
NOI Build-Up for 6,706 SF
Gross rent
$241.4K $36.00/SF
− Vacancy
−$17.9K −$2.66/SF
EGI
$223.6K $33.34/SF
− OpEx
−$100.6K −$15.00/SF
NOI
$123.0K $18.33/SF
Area
Honolulu County, HI
Vacancy
7.40%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,459,060
Cap Rate 7%
$1,756,471
Cap Rate 9%
$1,366,144
Alternative Uses
Best Use
Apartment 5plus
$1.76M
$1.54M – $2.05M
NOI $122,953 @ 7.0% cap · market cap 3.24%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.72M
$2.38M – $3.17M
NOI $190,183 @ 7.0% cap · market cap 5.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Yes
Highway access
Yes
Paved road access
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?
Multifamily property - Four residences, covered parking, solar generation, and a 2024 aluminum roof support a diversified residential configuration.
Where is this multifamily property located?
The property is located at 3702 Old Pali Road Honolulu, HI.
What is the asking price?
The asking price for this property is $3,800,000.
What are key features of this property?
This property features: 6,706 square feet of living space on a 22,916‑square‑foot parcel; Four‑bedroom, 3,683 SF main residence with 2.5 baths and a three‑car garage; Three separate one‑bedroom rentals measuring 1,057 SF, 1,106 SF, and 860 SF
