Map
Listed price in listed location currency (USD).
$5,688,000

0028

MLS® 202613702

Overview

Key Facts

Type Multi Family
Levels Residential
Size -
Garage 
Taxes $8,748
Days Active 3
Lot Size 24573
Approx. Age 1973
MLS® Number 202613702

Property Address: 230 Kapiolani Street, Hilo, HI, 96720

Average square foot calculated using Size range provided by listing agent.

Description

This exceptional property offers 24 fully renovated apartment units — twenty-one 2-bedroom and three 3-bedroom units — in the heart of Hilo. The building underwent a comprehensive $952, 000 gut renovation in 2025, inside every unit, including new luxury vinyl plank flooring, new high-end cabinets, granite countertops, sinks and faucets, all new stainless steel refrigerators, stoves and range hoods, updated bathrooms with new vanities and lighting, new ceiling fans in all bedrooms and living rooms, and fresh interior paint throughout. 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!
MLS® Number202613702
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age1973
Basement
DrivewayAssigned
Garage Spaces
Heat
A/C

Extras

Map

Like what you see?

Complete the form and we'll be in touch. No login necessary.

Add a Comment
Loading...

Similar Listings

Comparable Properties