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1104 Palama St 3 Unit Apartment Building $2,071,085 CAD ($690,362 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 $1,490,000 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 |
$233,518
|
$114.58
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$233,518
|
$114.58
|
| Taxes |
$18,797
|
$9.22
|
| Operating Expenses |
$22,240
|
$10.91
|
| Total Expenses |
$41,037
|
$20.14
|
| Net Operating Income |
$192,482
|
$94.45
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $233,518 |
| Annual Per SF | $114.58 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $233,518 |
| Annual Per SF | $114.58 |
| Taxes (CAD) | |
|---|---|
| Annual | $18,797 |
| Annual Per SF | $9.22 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $22,240 |
| Annual Per SF | $10.91 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $41,037 |
| Annual Per SF | $20.14 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $192,482 |
| Annual Per SF | $94.45 |
Property Facts
| Price | $2,071,085 CAD | Building Class | C |
| Price Per Unit | $690,362 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 | $2,071,085 CAD |
| Price Per Unit | $690,362 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 | $1,512,008 CAD |
| Land Assessment | $1,279,583 CAD | Annual Taxes | $18,797 CAD ($9.22 CAD/SF) |
| Improvements Assessment | $232,425 CAD | Tax Year | 2026 |
Property Taxes
Parcel Number
1-1-6-001-019-0000
Land Assessment
$1,279,583 CAD
Improvements Assessment
$232,425 CAD
Total Assessment
$1,512,008 CAD
Annual Taxes
$18,797 CAD ($9.22 CAD/SF)
Tax Year
2026
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1104 Palama St
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