Multifamily Property with Storage
For Sale
$950,000
75-190 ALAKAI ST, Kailua Kona, HI 96740
Residential Income, Kailua Kona, HI
Property Size2,170 SF
Lot Size0.18 Acres
Price / SF$437.79
Days on Market101
Property Features for 75-190 ALAKAI ST
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RD-3.75
Bedrooms
4
Bathrooms
5
Full bathrooms
3
Half bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bathroom 5, Bathroom 2, Bathroom 1, Bathroom 3, Bedroom 4, Bathroom 4, Bedroom 3
Subdivision
LONO - KONA SUBDIVISION
View
Ocean
Standard status
Active
APN
3750220870000
Size
2,170 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7630
Utilities
Utilities
Electricity Available
Building Details
Year built
1970
Flooring type
Vinyl, Tile - Ceramic
Listing Agency:
Coldwell Banker Island Properties - Kona · Coldwell Banker Real Estate
(808) 875-7000
Listed By:
Kurtis S Becker · License #78042
(808) 430-6785
Added: Jun 29
Changed: Sep 16
Last Checked: Oct 7 at 12:06PM
MLS# 731426
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 2,170-square-foot multifamily property was built in 1970 and occupies a 0.1768-acre lot. The upper front residence has two bedrooms, one bathroom, a kitchen, and living area, while the upper rear residence includes one bedroom, one bathroom, a kitchen, and living area. The lower residence provides one bedroom and one bathroom. A separate rented room, five storage rooms, and an additional bathroom add to the existing configuration. Flooring includes vinyl and ceramic tile, and electricity is available. The property is zoned RD-3.75.
The address is in Kailua-Kona, with the source information identifying access to Historic Kailua Village, restaurants, shopping, grocery stores, schools, medical facilities, the Kona waterfront, Alii Drive, beaches, snorkeling, fishing, and other outdoor recreation. The lot also offers potential for additional off-street parking, subject to applicable due diligence.
The address is in Kailua-Kona, with the source information identifying access to Historic Kailua Village, restaurants, shopping, grocery stores, schools, medical facilities, the Kona waterfront, Alii Drive, beaches, snorkeling, fishing, and other outdoor recreation. The lot also offers potential for additional off-street parking, subject to applicable due diligence.
Key Highlights
- 2,170 square feet on a 0.1768‑acre lot
- Three primary residences with 4 total bedrooms and 3 bathrooms
- Upper front residence includes 2 bedrooms, kitchen, and living area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,807
Cap Rate
3.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$596,140
$596.1K
Cap Rate 7%
$425,814
$425.8K
Cap Rate 9%
$331,189
$331.2K
Market Conditions
NOI Build-Up for 2,170 SF
Gross rent
$56.0K $25.80/SF
− Vacancy
−$1.8K −$0.83/SF
EGI
$54.2K $24.97/SF
− OpEx
−$24.4K −$11.24/SF
NOI
$29.8K $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%
$596,140
Cap Rate 7%
$425,814
Cap Rate 9%
$331,189
Alternative Uses
Best Use
Apartment 5plus
$425.8K
$372.6K – $496.8K
NOI $29,807 @ 7.0% cap · market cap 3.14%
Second Best
—
—
no second resolved use
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.
Property Analytics
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Current Use
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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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Multi-unit layout includes two upper residences, a lower residence, and separate rental space.
Where is this multifamily property 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: 2,170 square feet on a 0.1768‑acre lot; Three primary residences with 4 total bedrooms and 3 bathrooms; Upper front residence includes 2 bedrooms, kitchen, and living area
