Waianae Multifamily Investment
For Sale
Contact for pricing
87-274 St John's Rd, Waianae, HI 96792
Five turnkey homes in Waianae with income-generating potential.
Property Size7,500 SF
Lot Size0.66 Acres
Price / SF$433.33
Days on Market194
Property Features for 87-274 St John's Rd
General Information
Standard status
Active
Size
7,500 SF
Class
B
Lot size
0.66 Acres
Property subtype
Multifamily
Zoning
R-5
Investment Type
Stabilized
Net Operating Income
$138,000
Building Details
Year Built
1946
Year Renovated
2022
Buildings
5
Units
5
Listing Agency:
CPS-Commercial Property Solutions
Listed By:
Ash Tawfik · License #HI
(808) 218-0864
Source:
Crexi
Added: Mar 26
Changed: Sep 20
Last Checked: Oct 4 at 7:55AM
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 CPS-Commercial Property Solutions
Investment Insights
Based on property information with market context.
Located in Waianae, Hawaii, this multifamily property presents an investment opportunity. Situated on 28,785 square feet of land, the property features five homes, each offering 3 bedrooms and 2 bathrooms. Each home includes a two-car carport. The property generates a stabilized gross monthly income of $13,400. Each home has been upgraded with new walls, paint, flooring, high-end fixtures, and modern kitchens. Each home has a private, spacious yard and separate electric meters. Located on a peaceful cul-de-sac, the master suites feature en-suite bathrooms with showers, while second bathrooms include tubs. The kitchens are equipped with new appliances, including a refrigerator and stove. Each expansive, fenced yard includes washer and dryer hookups. All homes are legally permitted with potential for Condominium Property Regime (CPR) development.
Key Highlights
- High income‑generating potential with a stabilized gross monthly income of $13,400.
- Five turnkey homes, each with 3 bedrooms, 2 bathrooms, and a two‑car carport.
- Newly redeveloped property featuring new walls, paint, flooring, high‑end fixtures, and modern kitchens.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$137,511
Cap Rate
4.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,750,220
$2.8M
Cap Rate 7%
$1,964,443
$2.0M
Cap Rate 9%
$1,527,900
$1.5M
Market Conditions
NOI Build-Up for 7,500 SF
Gross rent
$270.0K $36.00/SF
− Vacancy
−$20.0K −$2.66/SF
EGI
$250.0K $33.34/SF
− OpEx
−$112.5K −$15.00/SF
NOI
$137.5K $18.33/SF
Area
Honolulu County, HI
Vacancy
7.40%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,750,220
Cap Rate 7%
$1,964,443
Cap Rate 9%
$1,527,900
Alternative Uses
Best Use
Apartment 5plus
$1.96M
$1.72M – $2.29M
NOI $137,511 @ 7.0% cap · market cap 4.23%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.04M
$2.66M – $3.55M
NOI $212,701 @ 7.0% cap · market cap 6.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Demographics for 96792, HI
51,965
Population
15,516
Households
3.3
Avg Household Size
35
Median Age
16%
College-Educated
91%
High-School Grad
61.1 sq mi
ZIP Area
850
Density / Sq Mi
$83,927
Median Household Income
$39,666
Median Earnings
$1,820
Median Rent
$551,400
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Five turnkey homes in Waianae with income-generating potential.
Where is this apartment building located?
The property is located at 87-274 St John's Rd Waianae, HI.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: High income‑generating potential with a stabilized gross monthly income of $13,400.; Five turnkey homes, each with 3 bedrooms, 2 bathrooms, and a two‑car carport.; Newly redeveloped property featuring new walls, paint, flooring, high‑end fixtures, and modern kitchens.
