Four-Unit
For Sale
$1,300,000
98-143 Kanuku St, Aiea, HI 96701
AMX-2-zoned quadplex near Skyline's Rail Station 8 Pearlridge, with separate electric metering and individual utility equipment historically configured by unit.
Property Size2,464 SF
Price / SF$527.60
Days on Market50
Property Features for 98-143 Kanuku St
General Information
Standard status
Active
Size
2,464 SF
Property subtype
Multi-Family
Zoning
AMX-2
Building Details
Year Built
1960
Listing Agency:
Klu Real Estate Inc.
(808) 521-4200
Listed By:
Ben Fieman · License #RB-23470
(808) 400-7007
Source:
Fieman
Added: Jul 30
Changed: Sep 15
Last Checked: Sep 16 at 6:48PM
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 Klu Real Estate Inc.
Investment Insights
Based on property information with market context.
Built in 1960, this four-unit quadplex contains 2,464 square feet and is zoned AMX-2. Each unit was historically configured as a 2-bedroom, 1-bath layout with its own washer, water heater, and separate electric meter.
The property has been vacant for years and requires major work. The site may also be considered for a fresh start involving teardown, subject to applicable requirements. The property is located at 98-143 Kanuku Street in Aiea, near Skyline's Rail Station 8 Pearlridge.
The property has been vacant for years and requires major work. The site may also be considered for a fresh start involving teardown, subject to applicable requirements. The property is located at 98-143 Kanuku Street in Aiea, near Skyline's Rail Station 8 Pearlridge.
Key Highlights
- Four‑unit quadplex with 2,464 square feet
- AMX‑2 zoning
- Historically configured as 2‑bedroom, 1‑bath units
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
$49,069
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
3.77%
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%
$981,380
$981.4K
Cap Rate 7%
$700,986
$701.0K
Cap Rate 9%
$545,211
$545.2K
Market Conditions
NOI Build-Up for 2,464 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
$75.4K $30.60/SF
− Vacancy
−$5.3K −$2.15/SF
EGI
$70.1K $28.45/SF
− OpEx
−$21.0K −$8.53/SF
NOI
$49.1K $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%
$981,380
Cap Rate 7%
$700,986
Cap Rate 9%
$545,211
Alternative Uses
Best Use
Multifamily LT 5
$701.0K
$613.4K – $817.8K
NOI $49,069 @ 7.0% cap · market cap 3.77%
Second Best
Apartment 5plus
$645.4K
$564.7K – $753.0K
NOI $45,177 @ 7.0% cap · market cap 3.48%
Theoretical Best
Specialty Retail
$998.3K
$873.5K – $1.16M
NOI $69,879 @ 7.0% cap · market cap 5.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Demographics for 96701, HI
42,833
Population
15,407
Households
2.8
Avg Household Size
45
Median Age
39%
College-Educated
94%
High-School Grad
25.3 sq mi
ZIP Area
1,693
Density / Sq Mi
$107,888
Median Household Income
$58,224
Median Earnings
$1,930
Median Rent
$913,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - AMX-2-zoned quadplex near Skyline's Rail Station 8 Pearlridge, with separate electric metering and individual utility equipment historically configured by unit.
Where is this quadplex located?
The property is located at 98-143 Kanuku St Aiea, HI.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Four‑unit quadplex with 2,464 square feet; AMX‑2 zoning; Historically configured as 2‑bedroom, 1‑bath units
