Four-Unit SPA-A
For Sale
$2,200,000
4639 LEHUA ST, Kapaa, HI 96746
Residential Income, Duplex, Kapaa, HI
Property Size2,970 SF
Lot Size0.19 Acres
Price / SF$740.74
Days on Market92
Property Features for 4639 LEHUA ST
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
SPA-A
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bedroom 1, Bathroom 3, Bathroom 4, Bedroom 8, Bathroom 1, Bedroom 4, Bedroom 7, Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 6
Parking features
Assigned
Fencing
Chain Link
Appliances
Range, Refrigerator
Subdivision
KAPAA TOWN LOTS
Standard status
Active
APN
4450100210000
Size
2,970 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5382
Utilities
Utilities
Cable Available
Building Details
Year built
1986
Floors in Building
1
Number of units
4
Flooring type
Tile - Ceramic
Architectural style
Other
Listing Agency:
RE/MAX Kauai - Princeville Office · RE/MAX International
(808) 826-9675
Listed By:
Yelena Okhman · License #RS-72677
(808) 635-6552
Added: Jul 6
Changed: Sep 13
Last Checked: Oct 5 at 5:06PM
MLS# 731472
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 residential income property comprises two duplex buildings with four units totaling 2,970 square feet on a 0.188-acre parcel. Built in 1986, the units include full kitchens equipped with ranges and refrigerators, ceramic tile flooring, and granite kitchen countertops. Assigned parking and chain-link fencing are also present.
Utility service is separately metered across the property, with 2 water meters and 5 electric meters, including a dedicated meter for exterior lighting and security. All four units connect to sewer. The SPA-A zoning designation supports a range of potential uses, subject to confirmation with the County.
The property is located in central Kapaa near the beach, parks, library, recreational pathway, public transit, restaurants, shops, and farmers market.
Utility service is separately metered across the property, with 2 water meters and 5 electric meters, including a dedicated meter for exterior lighting and security. All four units connect to sewer. The SPA-A zoning designation supports a range of potential uses, subject to confirmation with the County.
The property is located in central Kapaa near the beach, parks, library, recreational pathway, public transit, restaurants, shops, and farmers market.
Key Highlights
- Four units across two duplex buildings
- 2,970 square feet on a 0.188‑acre parcel
- SPA‑A zoning designation
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,409
Cap Rate
3.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,348,180
$1.3M
Cap Rate 7%
$962,986
$963.0K
Cap Rate 9%
$748,989
$749.0K
Market Conditions
NOI Build-Up for 2,970 SF
Gross rent
$99.8K $33.60/SF
− Vacancy
−$3.5K −$1.18/SF
EGI
$96.3K $32.42/SF
− OpEx
−$28.9K −$9.73/SF
NOI
$67.4K $22.70/SF
Area
Kauai County, HI
Vacancy
3.50%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,348,180
Cap Rate 7%
$962,986
Cap Rate 9%
$748,989
Alternative Uses
Best Use
Multifamily LT 5
$963.0K
$842.6K – $1.12M
NOI $67,409 @ 7.0% cap · market cap 3.06%
Second Best
Apartment 5plus
$860.2K
$752.7K – $1.00M
NOI $60,217 @ 7.0% cap · market cap 2.74%
Theoretical Best
Specialty Retail
$1.19M
$1.04M – $1.39M
NOI $83,201 @ 7.0% cap · market cap 3.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Demographics for 96746, HI
19,991
Population
8,178
Households
2.4
Avg Household Size
43
Median Age
32%
College-Educated
95%
High-School Grad
29.8 sq mi
ZIP Area
671
Density / Sq Mi
$89,681
Median Household Income
$41,624
Median Earnings
$2,053
Median Rent
$830,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Two duplex buildings provide individually metered units with kitchens, ceramic tile floors, and granite countertops.
Where is this quadplex located?
The property is located at 4639 LEHUA ST Kapaa, HI.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Four units across two duplex buildings; 2,970 square feet on a 0.188‑acre parcel; SPA‑A zoning designation
