Stabilized Apartment Income
75-5749 Alahou Street Kailua Kona, HI 96740
75-5749 Alahou Street, Kailua Kona, HI, 96740
$8,875,000
For Sale
$8,875,000
Two-building apartment income property with 25 units, including studios and two-bedroom apartments.
Property Size19,097 SF
Price / SF$464.73
Days on Market74
Property Features for 75-5749 Alahou Street
General Information
- Standard status
- Active
- Size
- 19,097 SF
- Property subtype
- Multi-Family / Multi-Family
Building Details
- Year Built
- 20122018
Listing agency
Pacific Realty Organization LLC
(808) 753-3167
Listed by
Richard Wheelock · License #RB-11234
(808) 753-3167
Source
Compass
Added: May 10 Updated: Jul 21 at 1:04PM Checked: Jul 22 at 9:13AM
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 Pacific Realty Organization LLC
Investment Insights
Based on property information with market context.
A stabilized apartment income property featuring 25 units across two newer buildings in excellent condition. Building A includes eight 2-bedroom units, built in 2012, and Building B includes 15 studio units plus two 2-bedroom units, built in 2018. Overall unit mix totals 15 studios and 10 two-bedroom apartments.
The property is zoned RM-1 and is positioned in the heart of Kailua-Kona town. Parking is provided on-site, and the property offers walking distance to shopping and dining, with a walkability score of 72. A stated opportunity exists to convert the project to a Condominium Property Regime.
The property is zoned RM-1 and is positioned in the heart of Kailua-Kona town. Parking is provided on-site, and the property offers walking distance to shopping and dining, with a walkability score of 72. A stated opportunity exists to convert the project to a Condominium Property Regime.
Key Highlights
- 25‑unit apartment income property in two buildings on Alahou Street Apartments in Kailua‑Kona
- Building A built in 2012: 8 two‑bedroom units
- Building B built in 2018: 15 studio units plus 2 two‑bedroom units
Local Financial Insights For Apartment 5plus
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 | $492.7k | $25.80 |
| − Vacancy | −$15.8k | −$0.83 |
| EGI | $476.9k | $24.97 |
| − OpEx | −$214.6k | −$11.24 |
| NOI | $262.3k | $13.74 |
19,097 SF · lease $25.80/SF/yr · vacancy 3.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.75M
$3.28M – $4.37M
NOI $262,315 @ 7.0% cap · market cap 2.96%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.52M
$5.70M – $7.60M
NOI $456,220 @ 7.0% cap · market cap 5.14%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Two-building apartment income property with 25 units, including studios and two-bedroom apartments.
Where is this apartment building located?
The property is located at 75-5749 Alahou Street Kailua Kona, HI.
What is the asking price?
The asking price for this property is $8,875,000.
What are key features of this property?
This property features: 25‑unit apartment income property in two buildings on Alahou Street Apartments in Kailua‑Kona; Building A built in 2012: 8 two‑bedroom units; Building B built in 2018: 15 studio units plus 2 two‑bedroom units
