$1,475,000
84-916 Hanalei Street
MAKAHA · Waianae · 96792 · MLS 202614924
- —beds
- 0baths
- 2,662living sqft
- Multi-familytype
Rare investment opportunity featuring four detached single-family homes on an R-5 zoned lot. Ideal for investors, 1031 exchange buyers, or multi-generational living, this versatile property combines steady cash flow, privacy, and long-term value creation. The property includes two 3-bedroom and two 2-bedroom residences. Each home boasts its own private fenced yard and dedicated parking, providing tenants with single-family independence. Operating expenses remain exceptionally low as tenants pay all utilities—including water, sewer, gas, and electricity. Turnkey performance meets huge upside. Units A (3-bed) and B (2-bed) were renovated in 2025, commanding top-of-market rents. Currently operating at a 5.06% cap rate on $74,640 in annual income, bringing below-market units to prevailing rates unlocks an extra $15,600 annually, pushing the potential cap rate to 6.12%. Don't miss this well-maintained, high-yield asset!
Building & interior
- Style
- Multi Family
- Condition
- Average Condition
- Total area
- 2,662 sqft
- Lot size
- 22,000 sqft
- Year built
- 1938
- Renovated
- 1971
- Stories
- One
- Parking
- 8 stalls · Assigned · Covered
- Furnished
- Unfurnished
Construction & features
- Construction
- Single Wall · Wood Frame
- Roofing
- Asphalt · Shingle
- Topography
- Level
- Lot features
- Level
- Utilities
- Natural Gas Available · High Speed Internet Available · Phone Available · Sewer Available · Water Available · Sewer Connected
- Water
- Public
Tax & assessment
- Annual property tax
- $4,032/yr
- Tax year
- 2025
- Assessed — total
- $1,227,000
- Assessed — land
- $926,100
- Assessed — improvements
- $300,900
- TMK
- 1-8-4-015-003-0000
- Zoning
- 05 - R-5 Residential District
- Land tenure
- Fee simple
- Financing accepted
- Cash · Conventional · Exchange1031
- Disclosures
- Exchange1031 · Call Agent · Principal Is Real Estate Licensed · Pet On Property · Seller Disclosure
Price history
- Original list
- $1,475,000
- Current
- $1,475,000
Listed by Asian Pacific Investments LLC
Information is from the Honolulu MLS and sources deemed reliable but is not guaranteed. Square footage, lot size, taxes, permits, and land tenure should be independently verified. Not a solicitation of property already listed.
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