Two Homes on Two
92-8689 LEHUA LN Ocean View, HI 96737
92-8689 LEHUA LN, Ocean View, HI, 96737
$349,000
For Sale
$349,000
MULTI_FAMILY - Ocean View, HI
Property Size1,260 SF
Lot Size2.00 Acres
Price / SF$276.98
Days on Market261
Property Features for 92-8689 LEHUA LN
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- A-1A
- Bedrooms
- 3
- Bathrooms
- 2
- Rooms
- Bedroom 3, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 2
- Parking features
- Assigned
- Window features
- Blinds
- Appliances
- Microwave, Range, Refrigerator, Washer
- Standard status
- Active
- APN
- 3920840640000
- Size
- 1,260 SF
- Lot size
- 2.00 Acres
Taxes and HOA fees
- Tax Year
- 202
- Tax Annual Amount
- 400
Utilities
- Utilities
- Phone Available
- Sewer type
- Septic Tank, Cesspool
Building Details
- Year built
- 1993
- Floors in Building
- 1
- Flooring type
- Carpet
Listing Agency
United Country Real Estate-Hawaii Lifestyle Properties, LLC
(808) 400-0643
75-5915 Walua Rd, Naalehu, HI
Listed by
Teena Genge · License #RB-23650
(808) 400-0643
Added: Oct 31, 2025 Checked: Jul 18 at 10:06 am
MLS# 725243
Listing URL
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.
Located in Hawaiian Ocean View Estates, this property features two distinct homes on two separate tax lots, each with its own entrance and landscaping, situated on two acres. The main residence is a 2-bedroom, 1-bath home amidst mature plantings and hand-built rock walls. Terraced gardens offer space for relaxation or growing island produce. Storage is provided by a 20-foot container, multiple sheds, and 2 carports. The property has on-grid electric. The second home, located on the adjoining lot with a separate entrance, features a 1-bedroom, 1-bath layout. Two insulated 40-foot containers offer storage or workspace potential. This lot also includes its own carport and landscaped grounds. Both homes have peekaboo ocean views. Located one block from Highway 11, the property is close to groceries, gas, and amenities. The property supports a range of uses from a family compound to rental potential.
Key Highlights
- Two homes on two separate tax lots with separate entrances
- Two acres of privacy in Hawaiian Ocean View Estates
- Main residence: 2‑bedroom, 1‑bath home with mature plantings and terraced gardens
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 | $32.5k | $25.80 |
| − Vacancy | −$1.0k | −$0.83 |
| EGI | $31.5k | $24.97 |
| − OpEx | −$14.2k | −$11.24 |
| NOI | $17.3k | $13.74 |
1,260 SF · lease $25.80/SF/yr · vacancy 3.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$247.2K
$216.3K – $288.5K
NOI $17,307 @ 7.0% cap · market cap 4.96%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$430.0K
$376.3K – $501.7K
NOI $30,101 @ 7.0% cap · market cap 8.62%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Single family properties
FAQs
What type of property is this?
Single family property - Two homes on two acres in Hawaiian Ocean View Estates.
Where is this single family property located?
The property is located at 92-8689 LEHUA LN Ocean View, HI.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Two homes on two separate tax lots with separate entrances; Two acres of privacy in Hawaiian Ocean View Estates; Main residence: **2‑bedroom, 1‑bath home with mature plantings and terraced gardens**
