Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Property profile & analytics

    2138 Kanealii Ave Honolulu, HI 96813

    • Residential income homes
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Residential income homes

    Property Details for 2138 Kanealii Ave

    Year built
    1938
    Property type
    Residential income homes

    Description

    Exceptional investment opportunity in Honolulu's desirable Pauoa Valley. This portfolio comprises three renovated single-family dwellings, each featuring two bedrooms and one bathroom, totaling six individual rental units. Situated on a substantial 8,727 square foot lot, the property boasts a combined net rentable area of 3,120 square feet. Each unit is separately metered for electricity and water, includes individual laundry facilities, and offers dedicated parking. The buildings, constructed in 1938 and extensively renovated in 2021, are equipped with photovoltaic systems, enhancing energy efficiency and potentially lowering operating costs. The property is zoned R-3.5, offering flexibility for future development or expansion. Individual unit addresses are 2138, 2138-A, 2138-B, 2138-C, 2138-D, and 2138-E Kanealii Ave, Honolulu, HI 96813. The Tax Map Key (TMK) numbers are 1-2-2-11-15-1, 1-2-2-11-15-2, and 1-2-2-11-15-3. This is a turnkey investment opportunity with strong potential for rental income and appreciation. The asking price is $2,895,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Honolulu
    County
    Honolulu
    State
    Hawaii
    Longitude
    -157.847
    Latitude
    21.3199

    Comparable in this City

    • Value Estimation
      $640,000
      122,055 SF

      629 Pohukaina St

      APARTMENT HOUSE (UNDER 5 UNITS) • 122,055 SF
      629 Pohukaina St, Honolulu, HI 96813-5004
      View Details
    • Value Estimation by Request

      2134 Kanealii Ave

      Multifamily properties
      2134 Kanealii Ave, Honolulu, HI 96813
      View Details
    • Value Estimation
      $190,000
      8,424 SF

      1934 Lusitana St

      APARTMENT HOUSE (UNDER 5 UNITS) • 8,424 SF
      1934 Lusitana St, Honolulu, HI 96813-1523
      View Details
    • Value Estimation
      $135,000
      2,167 SF

      1615 Emerson St, Unit B1

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,167 SF
      1615 Emerson St, Honolulu, HI 96813-2178
      View Details
    • Value Estimation by Request
      5,106 SF

      810 Grn St

      APARTMENT HOUSE (UNDER 5 UNITS) • 5,106 SF
      810 Grn St, Honolulu, HI 96813-2131
      View Details
    • Value Estimation
      $105,000
      520 SF

      775 Kinalau Pl, Unit 102

      APARTMENT HOUSE (UNDER 5 UNITS) • 520 SF
      775 Kinalau Pl, Honolulu, HI 96813-2618
      View Details

    Similar Nearby for Sale

    • $1,300,000
      Pending

      Honolulu Multi-Dwelling Investment Opportunity

      Multi-family property with duplex and cottage near Downtown Honolulu.
      2143 Booth Rd, Honolulu, HI 96813
      View Details
    • $1,300,000
      1,540 SF

      Honolulu Multi-Dwelling Investment Opportunity

      Multi-family property with duplex and cottage near Downtown Honolulu.
      2143 Booth Rd, Honolulu, HI 96813
      View Details
    • $2,888,000

      Honolulu Multifamily Investment Opportunity

      Multifamily property near downtown Honolulu with development potential.
      1640 Lusitana St, Honolulu, HI 96813
      View Details
    • $2,989,000

      Honolulu Multifamily Investment Opportunity

      12-unit multifamily property in Honolulu with renovated units and parking.
      1408 Lusitana St, Honolulu, HI 96813
      View Details
    • $2,500,000

      Honolulu Multifamily Development Opportunity

      Development opportunity near Queens Hospital with plans for 21 units.
      1449 Punchbowl St, Honolulu, HI 96813
      View Details
    • $2,888,000

      Honolulu Multifamily Investment Opportunity

      Multifamily property near downtown Honolulu with development potential.
      1640 Lusitana St, Honolulu, HI 96813
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      135,445 SF

      Honolulu Retail Center - Bishop St

      Prime Honolulu retail space, multiple suites available.
      733 Bishop St, Honolulu, HI 96813
      View Details
    • $36 SF/Yr
      45,603 SF

      Blaisdell Hotel Retail Spaces

      Honolulu's Historic Fort Street Mall Retail
      1154 Fort Street Mall, Honolulu, HI 96813
      View Details
    • $36 SF/Yr
      72,045 SF

      Ohia Building: Honolulu Office Space

      Downtown Honolulu Office & Retail, Move-In Ready
      1149 Bethel St, Honolulu, HI 96813
      View Details
    • $14 SF/Yr
      27,100 SF

      Merchant Street Creative Office Space

      Historic Honolulu building, ground floor retail/office.
      233 Merchant St, Honolulu, HI 96813
      View Details
    • Contact for pricing
      44,108 SF

      Downtown Honolulu Office Building

      Prime Honolulu location, 44,000+ sqft
      600 Kapiolani Blvd, Honolulu, HI 96813
      View Details
    • $22 SF/Yr
      14,964 SF

      Honolulu Waterfront Office Space

      Prestigious Honolulu office suites, flexible terms.
      500 Ala Moana Blvd, Honolulu, HI 96813
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2138 Kanealii Ave
    Honolulu, HI 96813
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.