| MLS: 710954 (Active - For Sale) Asking Price: $849,000 Fee Simple Type: Multi-Family District: South Hilo Street: 76 Palai St Neighborhood: Waiakea Highland View Lots Beds: 5 Baths: 3 Full / 1 Half Living Area: 2,092 SF Style: 3 Units Land Area: 20,210 SF Parking: Assigned,Covered,Attached,Deta Days on Market: 189 (The Price of the property was lowered by $50,000 on 10/12/2024) Year Built: 1954 Zoning: RS-10 Roads: County Property Taxes: $3,705,.18 Assessed Value: $333,800 Assessed Ratio: 254.34% Listing Courtesy: Big Island Properties Terms Acceptable: 1031 Exchange,Cash,Construction Loan,Conventional | Google Map County Records Add to Watch List Print Version Request Info < All Multi-Family Homes For Sale in Waiakea Highland View Lots |
Hilo rental property with 7.5% cap rate. 3 individual and separate units.
Nice rental property in Hilo. All units have been renovated and are rented. Three individual and separate rentals with carports on one TMK# makes for easy management. Good tenants, good income. Subdivision possible. Buyer is advised to do their due diligence.
Renovations on all three units:
New roofing & refinished in some areas
New countertops, Quartz in unit B
New paint, interior and exterior
New windows in unit B
New bathrooms
New flooring
New lighting, fans
New hardware
New faucets
New carpentry work throughout
Fumigation was completed. All units have a separate electric meter installed by HELCO. Rent roll: Unit A $1,832.46 Unit B $2,100 Unit C $1,937.17. Cap Rate 7.5%
The 3 structures are permitted and were built previously to Hawaii county building code in 1976 and are considered legal non-conforming use which does not need a variance from Hawaii county.
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3 Transaction(s) Found in Sales History
| MLS | List Date | Sold Date | List Price | Sold Price |
|---|---|---|---|---|
| 619080 | 06/25/2018 | 03/12/2019 | $208,800 | $189,000 |
| 146138 | 09/30/2005 | 01/12/2006 | $390,000 | $405,000 |
| 191079 | 02/05/2007 | 11/21/2007 | $415,000 | $415,000 |
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