230 KAPIOLANI ST Hilo, HI 96720
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Four Or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 17,868 sqft
Price per Sqft $318
Subdivision Ponahawai
MLS Listing ID 732045
Bedrooms 24
Full Baths 24
Construction Status Updated/Remodeled
HOA Y/N No
Year Built 1973
Annual Tax Amount $8,785
Tax Year 2026
Lot Size 0.564 Acres
Property Sub-Type Four Or More Units
Source Hawaii Information Service
Land Area 24573
Property Description
The property is 100% leased with professional management in place and includes 28 on-site parking stalls. Located in downtown Hilo — the county seat and regional hub for UH Hilo, healthcare, and government employment — supporting deep, stable rental demand. A recent condo conversion at a comparable Hilo building validates an embedded condo-conversion exit as additional upside. This is a trophy, renovated asset in a submarket where fully stabilized investment properties are rarely available for sale and is truly "turnkey" for a buyer. 5.5% cap rate on stabilized income!
Location
State HI
County Hawaii Island (big Island)
Community Ponahawai
Area Hi
Building/Complex Name City View
Zoning RM-1
Region South Hilo
City Region South Hilo
Interior
Appliance Oven, Range Hood
Exterior
Parking Features Assigned
Utilities Available Electricity Available, Sewer Connected
View Y/N Yes
View City, Coastline
Topography Gentle Slope
Garage No
Private Pool No
Building
Construction Status Updated/Remodeled
Others
Ownership Full
Acceptable Financing 1031 Exchange, Cash, Conventional
Listing Terms 1031 Exchange, Cash, Conventional
Special Listing Condition Fee Simple, Standard
