Three-Unit Residential
For Sale
$950,000
75-190 ALAKAI ST, Kailua Kona, HI 96740
The unit mix includes two one-bedroom apartments and one two-bedroom apartment, plus a separately rented room.
Property Size2,170 SF
Price / SF$437.79
Days on Market127
Property Features for 75-190 ALAKAI ST
General Information
Standard status
Active
Size
2,170 SF
Property subtype
Triplex
Units
Unit Mix
1 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
3
Additional Details
Gross Income
$87,000
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$7,630
Building Details
Building Size
2,170 SF
Year Built
1970
Listing Agency:
Coldwell Banker Island Properties - Kona
Listed By:
Kurtis S Becker · License #RS-78042
(808) 430-6785
Source:
Alohakonarealty
Added: Jun 29
Changed: Oct 30
Last Checked: Oct 30 at 7:25PM
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 Coldwell Banker Island Properties - Kona
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Investment Insights
Based on property information with market context.
Built in 1970, this residential property has three apartments: an upper-level two-bedroom, one-bath unit, an upper-level one-bedroom, one-bath unit, and a lower-level one-bedroom, one-bath unit. A separate room is also rented. The property includes five storage rooms and an additional bathroom.
The property is at 75-190 Alakai St in Kailua-Kona. Historic Kailua Village, restaurants, shops, grocery stores, schools, medical facilities, and the Kona waterfront are described as minutes away. Alii Drive, beaches, snorkeling, fishing, and outdoor recreation are also noted nearby.
The property is at 75-190 Alakai St in Kailua-Kona. Historic Kailua Village, restaurants, shops, grocery stores, schools, medical facilities, and the Kona waterfront are described as minutes away. Alii Drive, beaches, snorkeling, fishing, and outdoor recreation are also noted nearby.
Key Highlights
- Three apartments: one two‑bedroom, one‑bath unit and two one‑bedroom, one‑bath units
- Separate rented room, five storage rooms, and an additional bathroom
- Built in 1970
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,542
Cap Rate
3.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$650,840
$650.8K
Cap Rate 7%
$464,886
$464.9K
Cap Rate 9%
$361,578
$361.6K
Market Conditions
NOI Build-Up for 2,170 SF
Gross rent
$48.2K $22.20/SF
− Vacancy
−$1.7K −$0.78/SF
EGI
$46.5K $21.42/SF
− OpEx
−$13.9K −$6.43/SF
NOI
$32.5K $15.00/SF
Area
Hawaii County, HI
Vacancy
3.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$650,840
Cap Rate 7%
$464,886
Cap Rate 9%
$361,578
Alternative Uses
Best Use
Multifamily LT 5
$464.9K
$406.8K – $542.4K
NOI $32,542 @ 7.0% cap · market cap 3.43%
Second Best
Apartment 5plus
$425.8K
$372.6K – $496.8K
NOI $29,807 @ 7.0% cap · market cap 3.14%
Theoretical Best
Specialty Retail
$740.6K
$648.0K – $864.0K
NOI $51,840 @ 7.0% cap · market cap 5.46%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - The unit mix includes two one-bedroom apartments and one two-bedroom apartment, plus a separately rented room.
Where is this triplex located?
The property is located at 75-190 ALAKAI ST Kailua Kona, HI.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Three apartments: one two‑bedroom, one‑bath unit and two one‑bedroom, one‑bath units; Separate rented room, five storage rooms, and an additional bathroom; Built in 1970
