Remodeled Multi-Unit Residential
84-290 Makaha Valley Road Waianae, HI 96792
84-290 Makaha Valley Road, Waianae, HI, 96792
$1,999,000
For Sale
$1,999,000
MULTI_FAMILY - Cottage - Waianae, HI
Property Size4,384 SF
Lot Size1.00 Acre
Price / SF$455.98
Days on Market48
Property Features for 84-290 Makaha Valley Road
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 15
- Bathrooms
- 8
- Rooms
- Bedroom 8, Bedroom 10, Bedroom 1, Bathroom 8, Bedroom 6, Bedroom 15, Bedroom 3, Bathroom 3, Bathroom 2, Bathroom 1, Bedroom 13, Bedroom 4, Bathroom 5, Bathroom 4, Bedroom 2, Bedroom 12, Bedroom 5, Bathroom 7, Bathroom 6, Bedroom 9, Bedroom 7, Bedroom 11, Bedroom 14
- Parking
- 10
- Parking features
- Carport, Boat
- Standard status
- Active
- APN
- 1-8-4-021-060-0000
- Size
- 4,384 SF
- Lot size
- 1.00 Acre
Taxes and HOA fees
- Tax Annual Amount
- 3696
Utilities
- Utilities
- Cable Available
- Sewer type
- Cesspool
- Water source
- Public
Building Details
- Year built
- 1974
- Floors in Building
- 1
- Flooring type
- Vinyl
- Building materials
- Hollow Tile, Single Wall, Wood Frame
- Architectural style
- Cottage
Listing Agency
SC Realty, LLC
(808) 591-6277
822 Halekauwila Street, Honolulu, HI
Listed by
Vai Lan Lau · License #RS-83779
(808) 384-6768
Added: Jun 3 Checked: Jul 20 at 3:06 am
MLS# 202610829
Listing URL
Copyright © 2026 HiCentral MLS. 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 for-sale multi-unit residential property includes three legal structures on the site: a 4-bedroom, 2.5-bath main house with window A/C in the bedrooms; a two-story concrete building with a 5-bedroom/2-bath upstairs unit and a 5-bedroom/2-bath downstairs unit; and a one-bedroom cottage with a detached single bedroom. The main house and the concrete building were fully remodeled in 2024, and the additional one-bedroom cottage was remodeled in 2026. The property includes lots of parking and a large deck overlooking a spacious backyard with fruit trees.
The site is described as being on cesspool service. The seller notes the address is 84-290 Makaha Valley Road, Waianae, on Oahu. The remarks also state the property is near beaches, gas stations, and bus lines.
From an operator perspective, the configuration offers multiple separate rental units within legally permitted structures. The current occupancy and rental income are described in the remarks, along with one additional vacant unit projected under current market rent; however, the property is being sold AS IS. The seller also notes that tax records may not match, and that some unpermitted areas may exist though original structures are stated to be legal, so due diligence is encouraged.
The site is described as being on cesspool service. The seller notes the address is 84-290 Makaha Valley Road, Waianae, on Oahu. The remarks also state the property is near beaches, gas stations, and bus lines.
From an operator perspective, the configuration offers multiple separate rental units within legally permitted structures. The current occupancy and rental income are described in the remarks, along with one additional vacant unit projected under current market rent; however, the property is being sold AS IS. The seller also notes that tax records may not match, and that some unpermitted areas may exist though original structures are stated to be legal, so due diligence is encouraged.
Key Highlights
- Three legal multi‑unit structures: 4 bed/2.5 bath main house plus 5 bed/2 bath upstairs and 5 bed/2 bath downstairs units
- One‑bedroom cottage with detached single bedroom included as the third legal structure
- Occupied rental income of $9,900/month from three units; additional vacant unit projected at $3,600/month
Local Financial Insights For Multifamily LT 5
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 | $134.2k | $30.60 |
| − Vacancy | −$9.4k | −$2.15 |
| EGI | $124.7k | $28.45 |
| − OpEx | −$37.4k | −$8.53 |
| NOI | $87.3k | $19.91 |
4,384 SF · lease $30.60/SF/yr · vacancy 7.03% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.25M
$1.09M – $1.46M
NOI $87,304 @ 7.0% cap · market cap 4.37%
Second Best
Apartment 5plus
$1.15M
$1.00M – $1.34M
NOI $80,380 @ 7.0% cap · market cap 4.02%
Theoretical Best
Specialty Retail
$1.78M
$1.55M – $2.07M
NOI $124,331 @ 7.0% cap · market cap 6.22%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Three legally permitted remodeled structures provide multiple income units with parking and outdoor living space.
Where is this quadplex located?
The property is located at 84-290 Makaha Valley Road Waianae, HI.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: Three legal multi‑unit structures: 4 bed/2.5 bath main house plus 5 bed/2 bath upstairs and 5 bed/2 bath downstairs units; One‑bedroom cottage with detached single bedroom included as the third legal structure; Occupied rental income of $9,900/month from three units; additional vacant unit projected at $3,600/month
