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MLS: 202606722 (Active - For Sale)
 
Asking Price: $1,765,000 FS - Fee Simple
Type: Multi-Family
District: Leeward
Address: 84-956 Hanalei Street, Waianae, HI
Neighborhood: Makaha
Land Area: 20,000 SF
View: Mountain
Parking: Assigned,Covered,Open
Days on Market: 76
Year Built: 1936
Easements: Other
Zoning: 05 - R-5 Residential District
Land Recorded: Regular System
Property Taxes: $304
Assessed Value: $1,057,700
Assessed Ratio: 166.87%
Listing Courtesy: NextHome All Islands
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All Multi-Family Homes For Sale in Makaha


ATTENTION INVESTORS – STRONG CASH FLOW OPPORTUNITY! Multi-unit income-producing property in Waianae generating $11,271/month in rental income with a current 6.9% CAP rate and potential to increase to 8%. The 4-bedroom unit is currently rented at $2,500/month, while 2026 City & County Section 8 guidelines show potential rents up to $3,997/month. Monthly expenses remain low with property taxes at approximately $304/month and combined water/electric averaging about $1,100/month. Property features multiple units with new roofs on the front two structures and is currently in the process of obtaining permits for separate water and electrical meters, adding future flexibility and value. Property is also CPR-able, creating additional upside and multiple exit strategies. Conveniently located near beaches, shopping, schools, parks, and dining, including Pokai Bay and Tamura’s Market, making it attractive for long-term tenants and owner-occupants alike. VA financing may be possible. Strong income. Value-add potential. Multiple exit strategies. Don’t miss this opportunity!

2 Transaction(s) Found in Sales History
MLS List Date Sold Date List Price Sold Price
20172524512/06/201702/09/2018$850,000$900,000
20241940309/04/202406/04/2025$1,395,000$1,240,000

 
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