Two-Home Residential Income
619 MILILANI ST Hilo, HI 96720
For Sale
$675,000
MULTI_FAMILY - Hilo, HI
Property Size2,904 SF
Lot Size0.25 Acres
Price / SF$232.44
Days on Market153
Property Features for 619 MILILANI ST
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RS-10
Bedrooms
5
Bathrooms
3
Rooms
Bedroom 2, Bedroom 5, Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 1, Bathroom 3, Bedroom 4
Parking features
Covered
Appliances
Dryer, Oven, Refrigerator, Washer
Standard status
Active
APN
3220340080000
Size
2,904 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
3164
Utilities
Utilities
Electricity Available
Building Details
Year built
1932
Floors in Building
2
Flooring type
Carpet
Listing Agency:
Coldwell Banker Island Properties - Hilo
(808) 969-7863
Listed By:
Tessie Fontes
(808) 640-4077
Added: Feb 24
Changed: Jul 16
Last Checked: Jul 27 at 6:06PM
MLS# 728219
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 property consists of two separate homes on one lot, providing a flexible residential setup for rental income and/or owner occupancy. The first home is a multi-level residence built in 1932 and refreshed in 2020, offering two bedrooms and two bathrooms, including one 3/4 bath and one 1/4 bath. The second dwelling is a multi-level home built in 1985 with two bedrooms and one full bathroom on the upper level, plus an additional bedroom and one 3/4 bathroom on the lower level.
Zoned RS-10, the property is described as being surrounded by a mix of residential and commercial properties. The public remarks state it is located just minutes from shopping, dining, and outdoor recreation, including the Hilo Shopping Center and Wailoa State Park.
The listing materials note potential for buyers to explore zoning options, emphasizing that all information should be independently verified. The lot size is listed as 0.2502 acres, and the property size is listed as 2,904 square feet.
Zoned RS-10, the property is described as being surrounded by a mix of residential and commercial properties. The public remarks state it is located just minutes from shopping, dining, and outdoor recreation, including the Hilo Shopping Center and Wailoa State Park.
The listing materials note potential for buyers to explore zoning options, emphasizing that all information should be independently verified. The lot size is listed as 0.2502 acres, and the property size is listed as 2,904 square feet.
Key Highlights
- Two separate homes on one lot in Hilo—multi‑generational living and/or rental income potential (buyer to verify).
- First home: multi‑level residence built in 1932; refreshed in 2020; 2 bedrooms and 2 bathrooms (one 3/4 bath and one 1/4 bath).
- Second home: multi‑level dwelling built in 1985; 2 bedrooms and 1 full bathroom on the upper level; plus 1 additional bedroom and a 3/4 bathroom on the lower level.
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 | $64.5k | $22.20 |
| − Vacancy | −$2.3k | −$0.78 |
| EGI | $62.2k | $21.42 |
| − OpEx | −$18.7k | −$6.43 |
| NOI | $43.5k | $15.00 |
2,904 SF · lease $22.20/SF/yr · vacancy 3.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$622.1K
$544.4K – $725.8K
NOI $43,549 @ 7.0% cap · market cap 6.45%
Second Best
Apartment 5plus
$569.8K
$498.6K – $664.8K
NOI $39,889 @ 7.0% cap · market cap 5.91%
Theoretical Best
Specialty Retail
$991.1K
$867.2K – $1.16M
NOI $69,375 @ 7.0% cap · market cap 10.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences on one lot under RS-10 zoning, including a 1932 home refreshed in 2020 and a 1985 home.
Where is this duplex located?
The property is located at 619 MILILANI ST Hilo, HI.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Two separate homes on one lot in Hilo—multi‑generational living and/or rental income potential (buyer to verify).; First home: multi‑level residence built in 1932; refreshed in 2020; 2 bedrooms and 2 bathrooms (one 3/4 bath and one 1/4 bath).; Second home: multi‑level dwelling built in 1985; 2 bedrooms and 1 full bathroom on the upper level; plus 1 additional bedroom and a 3/4 bathroom on the lower level.
