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MLS #621764 - Commercial Opportunity in Lono-Kona Subdiv

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Contact Big Island Land Company about this property!

Address:75-5730 ALAHOU ST
MLS #621764TMK #3750220600000
Price:$ 2,095,000Year Built:1972
District:North KonaSubdivision:Lono-Kona Subdiv
Living Area:Land Area:0.37 Acres (16,062 Sq Ft)
  • Cash
  • Status: Contingent
    Assessed:$814,100 (2018)Maint Fee:Not Specified
    Month Fee:Not SpecifiedTaxes:$9,524.0
    Form: Commercial
    Type: Multi-Dwelling
    Tenure: Fee Simple Lava:Zone 4
    Value: Land value is $130.43 per square foot
    Zoning:Zone RM-1Schools:Not Specified
    6.39% cap on existing NOI ($133,913.52) in a market of no inventory! 16 one-beds in Lono Kona ( nicknamed Hamburger hill) with ample parking, super walkable to downtown Kailua-Kona. Views of Kailua Bay from many units, all units have enclosed lanais, adding to the interior space square footage. Off ground construction means repairs are simple and so much cheaper than busting through concrete. Lots of storage on the makai side of the building may be rented out for additional income. Absolute rent ability in a tight rental market, this building has so many potential! All units are separately metered for electric and tenants pay their own. Laundry is leased and can be replaced with your own machines to increase income. Proposed to be put on public sewer in the next 1-2 years with an annual cost of approximately $5449 for 35 years.


  • Range/Oven
  • Refrigerator
  • Design:
  • Double Wall
  • Heat/Cool:
  • None
  • Lot Type:
  • Inside
  • Phone:
  • Cell
  • Cable
  • Land Line
  • Pool:
  • No
  • Power:
  • Overhead
  • Roads:
  • County
  • Paved
  • Sewer:
  • Septic
  • Waste:
  • Private Contractor
  • Topography:
  • Gentle Slope
  • Television:
  • Cable
  • View:
  • Ocean
  • Sunset
  • Water:
  • Municipal
  • Windows:
  • None
  • Washer/Dryer:
  • Coin
  • Dryer
  • Washer
  • Tools...

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    Hawaii Property Tax Office:

    19.63990774, -155.98978084
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    17 units apartment building in the heart of kailua Village. In town location!

    So close to the ocean and all the wonderful activities available in Kailua Village.

    Walk to Kailua Town. 1.5 blocks away.

    Each 1 bedroom aparment has its own parking stall plus on site laundry.

    No need for a car as everything is within walking distance.

    View from Alahou Street.
    There is on street parking usually available.

    Look how close it is to Kailua Village central.

    Typical interior of the 1/1 unit with screened in all lanais for extra living space.

    Ground and landscaping are in really good condition.

    Looking south from the parking lot.

    South end has a storage space to rent or for the owner.

    In town yet has a tropical environment with the exterior landscaping.

    Each unit has a screened in lanai for extra living area.

    Living room to kitchen view.

    A different angle of the living room.

    Kitchen area has a pass thru bar to the living room.

    Function and design for efficiency in the kitchen.

    Spacious bathroom with tub.

    Different view of bathroom.

    Bedroom is a good size.

    Roomy closet and the units are facing west to east to get trade winds and evening breezes

    Laundry room.

    Hallway entry to unit and beyond.

    Electrical/mechanical locked room.

    Secured mail boxes for each tenant. A real bonus!

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    Bridge under Mauna Kea image by Charlene Meyers,