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Multidwelling Residential, High Rental Income 265 Kenolio Rd 4 Unit Apartment Building $3,730,000 ($932,500/Unit) 5.27% Cap Rate Kihei, HI 96753
INVESTMENT HIGHLIGHTS
- Walking distance to ocean, within 15 minutes to hospital, well-maintained, ample parking, AC in all units, zoning allowed for additional builds
EXECUTIVE SUMMARY
Just one block from the ocean, this distinctive Kihei estate offers exceptional lifestyle flexibility and outstanding long-term potential. Situated on a generous 32,670 sq. ft. R-2 zoned lot, the property features three separate dwellings, totaling 11 beds, 9.5 baths and 4384 living sq ft. The property is surrounded by lush tropical landscaping and has ample on-site parking for tenants and guests. The zoning allows for future expansion—up to six dwellings—making it ideal for multi-generational living, shared ownership, value-add opportunities, or strong rental income potential.
The two-story rear residence includes five bedrooms and five bathrooms, a full kitchen, and an additional kitchenette. Its upper-level suite—known as The Penthouse—boasts a spa-style shower and a rooftop deck with a jacuzzi, offering panoramic ocean and mountain views. Sliding doors in each bedroom allow for optional private entrances, perfect for guests or tenants seeking privacy.
The front house offers five bedrooms and three bathrooms, including a recently built and remodeled upstairs addition with its own bedroom, bathroom, living area, wet bar, lanai, and private entrances—ideal for visiting guests, long-term rentals, or extended family members.
The third dwelling is a thoughtfully designed 360 sq. ft. detached cottage, complete with a modern full kitchen, Murphy bed, built-in office space, and full bath. An outdoor shower and enclosed outdoor half bath make it perfect for rinsing off after a day at the beach.
Additional features include no HOA, air conditioning throughout, owned photovoltaic systems, two water meters, and a purchased transformer. With its rare combination of flexibility, income potential, and expansion opportunities (subject to county requirements), this is a truly one-of-a-kind, fully permitted Maui property—generating excellent monthly rental income while offering room to grow.
The two-story rear residence includes five bedrooms and five bathrooms, a full kitchen, and an additional kitchenette. Its upper-level suite—known as The Penthouse—boasts a spa-style shower and a rooftop deck with a jacuzzi, offering panoramic ocean and mountain views. Sliding doors in each bedroom allow for optional private entrances, perfect for guests or tenants seeking privacy.
The front house offers five bedrooms and three bathrooms, including a recently built and remodeled upstairs addition with its own bedroom, bathroom, living area, wet bar, lanai, and private entrances—ideal for visiting guests, long-term rentals, or extended family members.
The third dwelling is a thoughtfully designed 360 sq. ft. detached cottage, complete with a modern full kitchen, Murphy bed, built-in office space, and full bath. An outdoor shower and enclosed outdoor half bath make it perfect for rinsing off after a day at the beach.
Additional features include no HOA, air conditioning throughout, owned photovoltaic systems, two water meters, and a purchased transformer. With its rare combination of flexibility, income potential, and expansion opportunities (subject to county requirements), this is a truly one-of-a-kind, fully permitted Maui property—generating excellent monthly rental income while offering room to grow.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $3,730,000 | Apartment Style | Single-Family Home |
| Price Per Unit | $932,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.75 AC |
| Cap Rate | 5.27% | Building Size | 4,384 SF |
| No. Units | 4 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1985/2018 |
| Zoning | R-2 - Zoning allows 1 home per 7,500 sq ft plus 2 ADUs. This property uses only half its potential—room to expand or add value. There are two water meters. | ||
| Price | $3,730,000 |
| Price Per Unit | $932,500 |
| Sale Type | Investment |
| Cap Rate | 5.27% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Single-Family Home |
| Building Class | C |
| Lot Size | 0.75 AC |
| Building Size | 4,384 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1985/2018 |
| Zoning | R-2 - Zoning allows 1 home per 7,500 sq ft plus 2 ADUs. This property uses only half its potential—room to expand or add value. There are two water meters. |
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Multidwelling Residential, High Rental Income | 265 Kenolio Rd
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