Two-Home Multifamily
For Sale
Under Contract
$675,000
619 MILILANI ST, Hilo, HI 96720
Residential Income, Hilo, HI
Property Size2,904 SF
Lot Size0.25 Acres
Price / SF$232.44
Days on Market243
Property Features for 619 MILILANI ST
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RS-10
Bedrooms
5
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 1, Bedroom 5, Bathroom 3, Bedroom 4, Bedroom 3, Bathroom 2, Bedroom 1, Bedroom 2
Parking features
Covered
Appliances
Dryer, Oven, Refrigerator, Washer
Subdivision
WAIAKEA HOUSE LOTS 1ST SERIES
Standard status
Active Under Contract
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
Buildings
2
Listing Agency:
Coldwell Banker Island Properties - Hilo · Coldwell Banker Real Estate
(808) 969-7863
Listed By:
Tessie Fontes
(808) 640-4077
Added: Feb 24
Changed: Oct 24
Last Checked: Oct 25 at 4:06AM
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.
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Investment Insights
Based on property information with market context.
Two residences share a 0.2502-acre lot at 619 Mililani St in Hilo. The property contains 2,904 square feet across the homes. The first residence, built in 1932 and refreshed in 2020, has two bedrooms and two bathrooms. The second, built in 1985, has three bedrooms and two bathrooms, with living space on both its upper and lower levels.
The property is zoned RS-10. Hilo Shopping Center and Wailoa State Park are nearby. Covered parking and electricity availability are also listed among the property features.
The property is zoned RS-10. Hilo Shopping Center and Wailoa State Park are nearby. Covered parking and electricity availability are also listed among the property features.
Key Highlights
- Two homes on a 0.2502‑acre lot
- 2,904 square feet across the property
- First home: 2 bedrooms and 2 bathrooms; built in 1932 and refreshed in 2020
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,889
Cap Rate
5.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$797,780
$797.8K
Cap Rate 7%
$569,843
$569.8K
Cap Rate 9%
$443,211
$443.2K
Market Conditions
NOI Build-Up for 2,904 SF
Gross rent
$74.9K $25.80/SF
− Vacancy
−$2.4K −$0.83/SF
EGI
$72.5K $24.97/SF
− OpEx
−$32.6K −$11.24/SF
NOI
$39.9K $13.74/SF
Area
Hawaii County, HI
Vacancy
3.20%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$797,780
Cap Rate 7%
$569,843
Cap Rate 9%
$443,211
Alternative Uses
Best Use
Apartment 5plus
$569.8K
$498.6K – $664.8K
NOI $39,889 @ 7.0% cap · market cap 5.91%
Second Best
—
—
no second resolved use
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.
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Property Analytics
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Lease Details
2
Residential units
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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two separate residences on one lot support rental or owner-occupant use.
Where is this multifamily property 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 homes on a 0.2502‑acre lot; 2,904 square feet across the property; First home: 2 bedrooms and 2 bathrooms; built in 1932 and refreshed in 2020
