Updated Multifamily
For Sale
$1,595,000
73-1153 Ahikawa Street A & B, Kailua Kona, HI 96740
Two homes offer separate living areas, guest quarters, private entrances, and panoramic ocean and sunset views.
Property Size3,930 SF
Price / SF$405.85
Days on Market67
Property Features for 73-1153 Ahikawa Street A & B
General Information
Standard status
Active
Size
3,930 SF
Property subtype
Multi-Family
Amenities
laundry closet
covered lanai
storage buildings
Building Details
Year Built
1988
Buildings
2
Listing Agency:
Nathalie Mullinix R. U., Inc.
Listed By:
Nathalie C Mullinix · License #RB-17596
(808) 261-0350
Source:
Davidcordeiro
Added: Aug 14
Changed: Oct 11
Last Checked: Oct 7 at 3:27PM
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 Nathalie Mullinix R. U., Inc.
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Investment Insights
Based on property information with market context.
This 3,930-square-foot multifamily property includes two updated homes on one lot, each arranged with an upper-level main residence and lower-level guest quarters accessed through private entrances. Built in 1988, the property combines open-beam ceilings, covered lanais, kitchens, bathrooms, laundry areas, storage, and separate guest accommodations.
The north home features two bedroom suites with walk-in closets and four-piece bathrooms, a great room, covered tiled lanais, and a guest level with two bedrooms, one full bath, wet bar, and cabinets. The south home offers three bedrooms, one and three-quarter baths, an updated kitchen, a new roof, a two-car carport, and full-length covered lanais on both levels. Its guest quarters include one bedroom, one bath, an updated bathroom, wet bar, and cabinets.
Located at 73-1153 Ahikawa Street A & B in Kailua Kona, the property sits above the airport and offers panoramic ocean and sunset views, with access to Kailua-Kona town and the Kohala Gold Coast. Restaurants, shopping, and beaches are noted in both areas.
The north home features two bedroom suites with walk-in closets and four-piece bathrooms, a great room, covered tiled lanais, and a guest level with two bedrooms, one full bath, wet bar, and cabinets. The south home offers three bedrooms, one and three-quarter baths, an updated kitchen, a new roof, a two-car carport, and full-length covered lanais on both levels. Its guest quarters include one bedroom, one bath, an updated bathroom, wet bar, and cabinets.
Located at 73-1153 Ahikawa Street A & B in Kailua Kona, the property sits above the airport and offers panoramic ocean and sunset views, with access to Kailua-Kona town and the Kohala Gold Coast. Restaurants, shopping, and beaches are noted in both areas.
Key Highlights
- Two updated homes occupy one lot, each with upper‑level living and lower‑level guest quarters
- 3,930 square feet on one lot; built in 1988
- Separate entrances provide distinct access to the guest quarters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,982
Cap Rate
3.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,079,640
$1.1M
Cap Rate 7%
$771,171
$771.2K
Cap Rate 9%
$599,800
$599.8K
Market Conditions
NOI Build-Up for 3,930 SF
Gross rent
$101.4K $25.80/SF
− Vacancy
−$3.2K −$0.83/SF
EGI
$98.1K $24.97/SF
− OpEx
−$44.2K −$11.24/SF
NOI
$54.0K $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%
$1,079,640
Cap Rate 7%
$771,171
Cap Rate 9%
$599,800
Alternative Uses
Best Use
Apartment 5plus
$771.2K
$674.8K – $899.7K
NOI $53,982 @ 7.0% cap · market cap 3.38%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.34M
$1.17M – $1.56M
NOI $93,886 @ 7.0% cap · market cap 5.89%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Demographics for 96740, HI
38,234
Population
19,119
Households
2
Avg Household Size
45
Median Age
35%
College-Educated
94%
High-School Grad
242.4 sq mi
ZIP Area
158
Density / Sq Mi
$94,091
Median Household Income
$42,605
Median Earnings
$1,692
Median Rent
$730,600
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 homes offer separate living areas, guest quarters, private entrances, and panoramic ocean and sunset views.
Where is this multifamily property located?
The property is located at 73-1153 Ahikawa Street A & B Kailua Kona, HI.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: Two updated homes occupy one lot, each with upper‑level living and lower‑level guest quarters; 3,930 square feet on one lot; built in 1988; Separate entrances provide distinct access to the guest quarters
