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1665 Pi'ikoi St 7 Unit Apartment Building $2,000,000 ($285,714/Unit) 3.07% Cap Rate Honolulu, HI 96822
EXECUTIVE SUMMARY
Great income producing property! Consisting of 7 units: 4 studios and 3 one bedroom/one bath with 2 car carport. Ample street parking and close to bus lines. Owner replaced all of the posts and beams under the house as this is a post and pier construction. One studio has been fully renovated and one has been partially renovated. The other units are in fair condition. Exterior was recently painted with the addition of concrete stairs, fences and gates. Most of the rents are under market. Owner experimented with fully renovating a unit and the rent was increased from $950 to $1400! This is a significant increase with a small investment for renovation.
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$86,388
|
$22.88
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$86,388
|
$22.88
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$24,891
|
$6.59
|
| Net Operating Income |
$61,497
|
$16.29
|
FINANCIAL SUMMARY (ACTUAL - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $86,388 |
| Annual Per SF | $22.88 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $86,388 |
| Annual Per SF | $22.88 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $24,891 |
| Annual Per SF | $6.59 |
| Net Operating Income | |
|---|---|
| Annual | $61,497 |
| Annual Per SF | $16.29 |
PROPERTY FACTS
| Price | $2,000,000 | Apartment Style | Low-Rise |
| Price Per Unit | $285,714 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 3.07% | Building Size | 3,776 SF |
| No. Units | 7 | Average Occupancy | 86% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1936/2025 |
| Zoning | A-2 - 12 - A-2 Medium Density Apartments | ||
| Price | $2,000,000 |
| Price Per Unit | $285,714 |
| Sale Type | Investment |
| Cap Rate | 3.07% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 3,776 SF |
| Average Occupancy | 86% |
| No. Stories | 2 |
| Year Built/Renovated | 1936/2025 |
| Zoning | A-2 - 12 - A-2 Medium Density Apartments |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 4 | - | - |
| 1+1 | 3 | - | - |
1 1
Walk Score®
Very Walkable (81)
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1665 Pi'ikoi St
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