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1104 Palama St 3 Unit Apartment Building $2,122,650 CAD ($707,550 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 |
$237,737
|
$116.65
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$237,737
|
$116.65
|
| Taxes |
$19,136
|
$9.39
|
| Operating Expenses |
$22,642
|
$11.11
|
| Total Expenses |
$41,778
|
$20.50
|
| Net Operating Income |
$195,959
|
$96.15
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $237,737 |
| Annual Per SF | $116.65 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $237,737 |
| Annual Per SF | $116.65 |
| Taxes (CAD) | |
|---|---|
| Annual | $19,136 |
| Annual Per SF | $9.39 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $22,642 |
| Annual Per SF | $11.11 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $41,778 |
| Annual Per SF | $20.50 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $195,959 |
| Annual Per SF | $96.15 |
Property Facts
| Price | $2,122,650 CAD | Building Class | C |
| Price Per Unit | $707,550 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 | $2,122,650 CAD |
| Price Per Unit | $707,550 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 | $1,548,980 CAD |
| Land Assessment | $1,310,872 CAD | Annual Taxes | $19,136 CAD ($9.39 CAD/SF) |
| Improvements Assessment | $238,108 CAD | Tax Year | 2026 |
Property Taxes
Parcel Number
1-1-6-001-019-0000
Land Assessment
$1,310,872 CAD
Improvements Assessment
$238,108 CAD
Total Assessment
$1,548,980 CAD
Annual Taxes
$19,136 CAD ($9.39 CAD/SF)
Tax Year
2026
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1104 Palama St
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