865 Akumu St Kailua, HI 96734

This exceptional multifamily investment property, located at 865 Akumu St, Kailua, HI 96734, presents a compelling opportunity for discerning buyers. The property boasts a fee simple ownership structure and comprises a meticulously renovated, 3,740 square foot main house and two additional units, totaling four units. The main house features four bedrooms and three bathrooms, while the additional units offer a mix of one- and two-bedroom configurations, all with private lanais. A total of five parking spaces are available. Built in 1963 and extensively renovated in 2020, this Class A property sits on a 7,772 square foot lot zoned 05-R-5 Residential District. The property includes state-of-the-art amenities such as automatic lighting, auto-closing skylights, integrated blinds, a gas stove and dryer, and a 13-foot deep pool with a diving board. Furthermore, it features over 40 photovoltaic panels and 4 Tesla batteries, significantly reducing energy costs. Currently operating at 100% occupancy, the property generates a substantial monthly rental income of $14,250, translating to an annual NOI of $153,100 and a current cap rate of 5.89%. Pro-forma NOI is projected at $157,900, resulting in a pro-forma cap rate of 6.07%. The asking price is $2,600,000, representing a price per square foot of $695.19 and a price per unit of $650,000. A 3D walkthrough of a downstairs unit is available online. This turnkey property offers significant potential for owner-users seeking rental income or investors looking for a high-return opportunity in a desirable Kailua location. Seller financing is available.