87-274 St Rd Waianae, HI 96792
- Commercial real estate
- 7,500 SF
Current Use by Public Records
- Commercial real estate
Property Details for 87-274 St Rd
- Year built
- 1946
- Property size
- 7,500 SF
- Property type
- Commercial real estate
Description
This exceptional multifamily investment opportunity in Waianae, Hawaii, presents five fully renovated homes situated on a spacious 28,785 square foot lot. Each home boasts three bedrooms, two bathrooms, and a two-car carport. The property, built in 1946 and extensively renovated in 2022, offers a stabilized net operating income (NOI) of $138,000, resulting in a 5.52% cap rate. The asking price is $2,500,000, translating to $500,000 per unit and $333.33 per square foot. Modern kitchens feature new appliances, and each home includes private, fenced yards with washer/dryer hookups and separate electric meters. Master suites offer en-suite bathrooms with showers, while secondary bathrooms include tubs. The property is zoned R-5 and located on a peaceful cul-de-sac. Legally permitted, it presents potential for future development as a Condominium Property Regime (CPR), further enhancing long-term investment value. This turnkey investment is ideal for those seeking high-income potential and a strong return on investment in a thriving Hawaiian market. The property's features include upgraded interiors with new walls, paint, flooring, and high-end fixtures.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Waianae
- County
- Honolulu
- State
- Hawaii
- Longitude
- -158.171
- Latitude
- 21.418
