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1104 Palama St 3 Unit Apartment Building $2,067,210 CAD ($689,070 CAD/Unit) Honolulu, HI 96817
Investment Highlights
- Rare CUP
- Corner lot, Kalihi upside
- Two buildings, three income streams
Executive Summary
Mixed-use investment opportunity in Kalihi featuring two buildings and nine residential rooms. The ground floor commercial unit has a CUP in place with roll-up door access and direct street frontage — suitable for retail, grocery, or light industrial use. Building B is currently occupied generating $4,000/month. Building A is actively under renovation. Priced at $1,500,000 with a stabilized cap rate of 7.8–9.0%. The surrounding Kalihi corridor has strong long-term redevelopment fundamentals.
Financial Summary (Pro Forma - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$231,528
|
$113.61
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$231,528
|
$113.61
|
| Taxes |
$18,637
|
$9.14
|
| Operating Expenses |
$22,050
|
$10.82
|
| Total Expenses |
$40,687
|
$19.96
|
| Net Operating Income |
$190,841
|
$93.64
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $231,528 |
| Annual Per SF | $113.61 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $231,528 |
| Annual Per SF | $113.61 |
| Taxes (CAD) | |
|---|---|
| Annual | $18,637 |
| Annual Per SF | $9.14 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $22,050 |
| Annual Per SF | $10.82 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $40,687 |
| Annual Per SF | $19.96 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $190,841 |
| Annual Per SF | $93.64 |
Property Facts
| Price | $2,067,210 CAD | Building Class | C |
| Price Per Unit | $689,070 CAD | Lot Size | 0.09 AC |
| Sale Type | Investment | Building Size | 2,038 SF |
| No. Units | 3 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1905 |
| Property Subtype | Apartment | Parking Ratio | 2.45/1,000 SF |
| Zoning | R-5 | ||
| Price | $2,067,210 CAD |
| Price Per Unit | $689,070 CAD |
| Sale Type | Investment |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.09 AC |
| Building Size | 2,038 SF |
| No. Stories | 2 |
| Year Built | 1905 |
| Parking Ratio | 2.45/1,000 SF |
| Zoning | R-5 |
1 1
Exceptionally walkable
90/100
Moderately drivable
60/100
Good public transit
70/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 1-1-6-001-019-0000 | Total Assessment | $1,505,541 CAD (2025) |
| Land Assessment | $1,275,278 CAD (2025) | Annual Taxes | $18,637 CAD ($9.14 CAD/SF) |
| Improvements Assessment | $230,262 CAD (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
1-1-6-001-019-0000
Land Assessment
$1,275,278 CAD (2025)
Improvements Assessment
$230,262 CAD (2025)
Total Assessment
$1,505,541 CAD (2025)
Annual Taxes
$18,637 CAD ($9.14 CAD/SF)
Tax Year
2026
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1104 Palama St
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