54 Maluniu Ave 10 Unit Apartment Building $5,890,000 ($589,000/Unit) 5% Cap Rate Kailua, HI 96734

exceptional property offers 10 thoroughly renovated one-bedroom apartment units, each with at least one balcony and its own full size washer/dryer, and 2 renovated ground floor retail units, in the prestigious beach town of Kailua, Hawaii. The building is secured and underwent major interior and exterior renovations over the last 2 years (see below list). The retail spaces benefit from the high visibility location in this established, upscale retail corridor. The curated community of tenants at the property includes Kailua Honey (663 SF), an artisanal boutique offering a curated selection of premium honey, wellness products, and home goods, and Kailua Tailor (780 SF), a custom tailor and alterations shop. In addition to abundant street parking in the immediate area, the property also provides 7 covered parking stalls along with designated bike, moped or motorcycle parking, plus storage space for additional income. Located just moments from Whole Foods Market, Target, Foodland, and dozens of local boutiques, restaurants, and cafés, this property is also within walking distance of world renowned Kailua Beach, consistently ranked among the best beaches globally.
This meticulously remodeled, trophy asset is located in an incredibly desirable submarket where investment properties are rarely available for sale. With existing professional management available, this property could be truly “turnkey” for buyers seeking a stabilized, high quality building. 5% cap rate on current income!
The apartments and retails units have been split into separate TMKs (1-4-3-31-27-1 & -2) for lower property tax rates.