Quadplex with Four Two-Bedroom
For Sale
$1,250,000
94-769 Haakoa Pl, Waipahu, HI 96797
Fully rented quadplex featuring four two-bedroom units with individual electric meters, each with a dedicated laundry area.
Property Size2,208 SF
Price / SF$566.12
Days on Market451
Property Features for 94-769 Haakoa Pl
General Information
Standard status
Active
Size
2,208 SF
Total Parking Spaces
6
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$3,576
Amenities
individual electric meters
each unit has own laundry area
3
Internet Connection, Cable Available
Pool
No Fence
Spa. Waterfront.
5 Parking Spaces.
Other
Level
5206.0
No Pool
None, Level.
Building Details
Year Built
1960
Stories
2
Tenancy
Multi
Listing Agency:
Graham Realty Inc.
Listed By:
Baron Graham · License #RB-21762
(808) 536-9626
Source:
Xome
Added: Jun 12, 2025
Changed: Sep 1
Last Checked: Sep 5 at 4:01AM
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 Graham Realty Inc.
Investment Insights
Based on property information with market context.
This fully rented quadplex features a solid CMU base and consists of four two-bedroom units. The property provides six parking spaces and is set up with individual electric meters for each unit. Each unit also includes its own dedicated laundry area.
The building is located behind Servco Toyota Waipahu, with convenient access to the rail station and nearby restaurants and shops, including Tanioka’s.
Overall, the configuration supports independent utility metering and in-unit laundry setups across the four units, with parking available on-site for residents.
The building is located behind Servco Toyota Waipahu, with convenient access to the rail station and nearby restaurants and shops, including Tanioka’s.
Overall, the configuration supports independent utility metering and in-unit laundry setups across the four units, with parking available on-site for residents.
Key Highlights
- Fully rented quadplex with four 2‑bedroom units
- Gross rent listed at $5,900/month
- Each unit has an individual electric meter and a dedicated laundry area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$43,970
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.52%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$879,400
$879.4K
Cap Rate 7%
$628,143
$628.1K
Cap Rate 9%
$488,556
$488.6K
Market Conditions
NOI Build-Up for 2,208 SF
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.
Gross rent
$67.6K $30.60/SF
− Vacancy
−$4.7K −$2.15/SF
EGI
$62.8K $28.45/SF
− OpEx
−$18.8K −$8.53/SF
NOI
$44.0K $19.91/SF
Area
Honolulu County, HI
Vacancy
7.03%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$879,400
Cap Rate 7%
$628,143
Cap Rate 9%
$488,556
Alternative Uses
Best Use
Multifamily LT 5
$628.1K
$549.6K – $732.8K
NOI $43,970 @ 7.0% cap · market cap 3.52%
Second Best
Apartment 5plus
$578.3K
$506.0K – $674.7K
NOI $40,483 @ 7.0% cap · market cap 3.24%
Theoretical Best
Specialty Retail
$894.6K
$782.7K – $1.04M
NOI $62,619 @ 7.0% cap · market cap 5.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Demographics for 96797, HI
78,109
Population
21,327
Households
3.7
Avg Household Size
41
Median Age
25%
College-Educated
90%
High-School Grad
19.3 sq mi
ZIP Area
4,047
Density / Sq Mi
$110,036
Median Household Income
$44,685
Median Earnings
$1,981
Median Rent
$798,600
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?
Quadplex - Fully rented quadplex featuring four two-bedroom units with individual electric meters, each with a dedicated laundry area.
Where is this quadplex located?
The property is located at 94-769 Haakoa Pl Waipahu, HI.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Fully rented quadplex with four 2‑bedroom units; Gross rent listed at $5,900/month; Each unit has an individual electric meter and a dedicated laundry area
