75-5749 ALAHOU ST, #25, KAILUA KONA, HI 96740
Top quality stabilized asset, central location. 5.5% Cap Rate. 100% occ.
Listing Provided by: Pacific Realty Organization LLC
MLS #: 730091
MLS #: 730091
Description
Rare offering of stabilized apartment income property at Alahou Street Apartments. 25 units in two newer buildings, with 8 2-bedroom units in building A built in 2012 and 15 studio units plus 2 2-bedroom units in Building B built in 2018, both being in excellent condition. Total of 10 2-bedroom units and 15 studio units located in the heart of Kailua-Kona town. With a high barrier to entry due to lack of water and zoned land, there are no new competing projects planned in the area at this time, leading to consistent rental pressure over time and high occupancy, typically pushing 100%. Great parking and walking distance to shopping and dining add to the desirability of this project. Priced at $8,875,000, which represents a 5.5% capitalization rate on Trailing Twelve Months (T-12) financial performance, this Offering provides an excellent opportunity for investing in the Kailua-Kona market, one of Hawaii's most popular resort/residential markets. With the planned new hospital and other growth in the area, continued upward pressure on rents and high occupancy is very likely. Walkability score of 72. Potential to convert the project to a Condominium Property Regime is available.
Property Details
Price: $8,875,000
Sold Price:
Address: 75-5749 ALAHOU ST, #25, KAILUA KONA, HI 96740
Ownership: Full
Status: Active
Category: Residential Income
Type:
Sold Price:
Address: 75-5749 ALAHOU ST, #25, KAILUA KONA, HI 96740
Ownership: Full
Status: Active
Category: Residential Income
Type:
Total Bedrooms: 20
Total Bathrooms: 25
Full Baths: 25
Living Area: 6,297 Square Feet
Listed by: Pacific Realty Organization LLC
Year Built: 2012
Levels: Three Or More, Two
Year Built: 2012
Levels: Three Or More, Two
Features and Amenities
Interior Features:
Exterior Features:
View: City, Mountain(s)
Pool:
Pool Features:
Appliances: Microwave, Range, Refrigerator, Washer/Dryer Stacked
Fireplace Features:
Flooring: Laminate
Security: None
Laundry:
Fireplace Features:
Flooring: Laminate
Security: None
Laundry:
Garage Spaces:
Carport Spaces:
Parking Features: Assigned
Additional Structures:
Home Warranty:
Carport Spaces:
Parking Features: Assigned
Additional Structures:
Home Warranty:
Community Information
Project Name:
Subdivision Name: LONO - KONA SUBDIVISION
Association Fee: $0 Monthly
Subdivision Name: LONO - KONA SUBDIVISION
Association Fee: $0 Monthly
Stories: 2
Year Established:
Year Established:
Lava Zone: 4
Flood Zone: AE
Flood Zone: AE
Land Information
Lot Size: 25,855 Square Feet
Waterfront:
Land Lease Rent:
Lease Type:
Land Tenure: Fee Simple
Waterfront:
Land Lease Rent:
Lease Type:
Land Tenure: Fee Simple
Lot Features: Corner Lot
Frontage Type: Preservation
Roads: County
Roads Frontage Type: Road/Street
Frontage Type: Preservation
Roads: County
Roads Frontage Type: Road/Street
Zoning: RM-1
Horse Amenities:
Horse Amenities:
Additional Details
Assessed Tax Value: $3,956,600
Annual Tax: $45,961
Tax Year: 2025
Tax Lot: A
Tax Block:
Utilities: Cable Available, Electricity Available, Phone Available, Sewer Connected
Cooling:
Heating:
Sewer:
Water:
Solid Waste Disposal: Private Contractor
Cooling:
Heating:
Sewer:
Water:
Solid Waste Disposal: Private Contractor
First Listed May 10, 2026, 11:05 am
Last Updated May 10, 2026, 11:05 am
Listing Conditions: Fee Simple, Standard
Property Condition:
Financial Info Available:
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