75-5749 Alahou Street, Kailua Kona, HI 96740
- $8,875,000
- List Price
- $8,875,000
- Status
- ACTIVE
- Type
- Multifamily
- MLS#
- 202609233
- Days on Market
- 79
- Land Area
- 25,855
- Property Type
- Residential
- Neighborhood
- Lono Kona
- Land Tenure
- FS - Fee Simple
Property Description
Rare offering of stabilized apartment income property at Alahou Street Apartments. 25 units in two newer buildings, with 8 2-bedroom units in building A built in 2012 and 15 studio units plus 2 2-bedroom units in Building B built in 2018, both being in excellent condition. Total of 10 2-bedroom units and 15 studio units located in the heart of Kailua-Kona town. With a high barrier to entry due to lack of water and zoned land, there are no new competing projects planned in the area at this time, leading to consistent rental pressure over time and high occupancy, typically pushing 100%. Great parking and walking distance to shopping and dining add to the desirability of this project. Priced at $8,875,000, which represents a 5.5% capitalization rate on Trailing Twelve Months (T-12) financial performance, this Offering provides an excellent opportunity for investing in the Kailua-Kona market, one of Hawaii's most popular resort/residential markets. With the planned new hospital and other growth in the area, continued upward pressure on rents and high occupancy is very likely. Walkability score of 72. Potential to convert the project to a Condominium Property Regime. Zoned RM-1
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Additional Information
- Island
- Big Island
- Utilities
- Above Ground Utilities, Cable Available, Electricity Available, High Speed Internet Available, Phone Available, Water Available, Sewer Connected
- View
- Mountain(s), Ocean
- Elementary School
- Kahakai
- Middle School
- Kealakehe
- High School
- Kealakehe
- Lot Size
- 25,855
- Construction Materials
- Double Wall, Hollow Tile, Wood Frame
- Neighborhood
- Lono Kona
- Frontage
- Preservation
- Sewer
- Connected
- Parking Features
- Assigned
- Lot Features
- Corner Lot, Dead End, Irregular Lot, Rim Lot
- Stories
- 2
- Assessed Total
- 3956600
- Water
- Public
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Listing courtesy of Pacific Realty Organization.
Based on information from the Multiple Listing Service of Hicentral MLS, Ltd. Listings last updated on . Information is deemed reliable but not guaranteed. Copyright: 2026 by HiCentral MLS, Ltd. IDX information is provided exclusively for consumers' personal, non-commercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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