256 KAPIOLANI ST, Hilo, HI 96720
256 KAPIOLANI ST, Hilo, HI 96720
256 KAPIOLANI ST, Hilo, HI 96720
256 KAPIOLANI ST, Hilo, HI 96720
256 KAPIOLANI ST, Hilo, HI 96720
256 KAPIOLANI ST, Hilo, HI 96720
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$ 3,249,000
Est. payment | /mo

30 Beds

15 Baths

9,900 SqFt


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$ 3,249,000
Est. payment | /mo
Save

30 Beds

15 Baths

9,900 SqFt

Key Details

Property Type Multi-Family

Sub Type Four Or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 9,900 sqft

Price per Sqft $328

Subdivision Ponahawai

MLS Listing ID 732420

Bedrooms 30

Full Baths 15

Construction Status Updated/Remodeled

HOA Y/N No

Year Built 1973

Annual Tax Amount $7,575

Tax Year 2026

Lot Size 0.358 Acres

Property Sub-Type Four Or More Units

Source Hawaii Information Service

Land Area 15605

Property Description

Fantastic Turnkey Multifamily INCOME Property in Hilo Opportunity Zone. An exceptional investment opportunity located near downtown Hilo. This professionally managed 15-unit apartment building features 15 onsite parking stalls and consists entirely of 2-bedroom, 1-bathroom units (approx. 660 sq. ft. each, totaling 9,900 sq. ft. of living area). Tenants enjoy ocean views from the second and third-floor walkways and a newly installed on-site laundry facility.
The building has undergone extensive, high-quality capital improvements. All 15 units boast fully remodeled interiors with brand-new flooring, fresh paint, and completely updated bathrooms. The modernized kitchens include new cabinetry, quartz countertops, new refrigerators, stove hoods, and individual water heaters.
Major structural and systemic upgrades provide immediate peace of mind for the new owner. All exterior walkways and stairways have been completely rebuilt. Crucial plumbing updates include a newly replaced main sewer line to the County road and new under-slab main floor sewer lines.
Located in a highly desirable Opportunity Zone, this turnkey asset is perfectly positioned for a seamless transition. NDA required to review financials.

Location

State HI

County Hawaii Island (big Island)

Community Ponahawai

Area Hi

Zoning RM-1

Region South Hilo

City Region South Hilo

Interior

Hot Water Electric

Heating None

Cooling None

Flooring Vinyl

Appliance Dryer, Range, Refrigerator, Washer

Laundry Common Area

Exterior

Parking Features Assigned

Utilities Available Cable Available, Electricity Available, Phone Available, Sewer Connected

View Y/N Yes

View Garden, Ocean

Topography Fairly Level

Garage No

Private Pool No

Building

Lot Description Cleared

Story 3

Unit Features Multi-Story

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

Hawaii Information Service (HIS)
Listed by Sherrill A Erickson dba HALE 414

Nearby Locations

Tanya Kangas
Tanya Kangas

Agent License ID: RS-83885

+1(808) 481-5463 | tanya@kohalacoastliving.com

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256 KAPIOLANI ST