Listed price in listed location currency (USD).
$5,688,000

24240

MLS® 732045

  • Key Facts
  • Description
  • Map

Key Facts

Type 
Levels Residential Income
Size 17868 sqft
Garage 
Taxes $8,785
Days Active 10
Lot Size 24573 SF
Approx. Age 1973
Avg. Price Per Sqft $318
MLS® Number 732045

Property Address: 230 Kapiolani St, Hilo, HI, 96720-2653

Average square foot calculated using Size range provided by listing agent.

Description

This exceptional property offers 24 fully renovated apartment units — twenty-one 2-bedroom and three 3-bedroom units — in the heart of Hilo. The building underwent a comprehensive $952, 000 gut renovation in 2025, inside every unit, including new luxury vinyl plank flooring, new high-end cabinets, granite countertops, sinks and faucets, all new stainless steel refrigerators, stoves and range hoods, updated bathrooms with new vanities and lighting, new ceiling fans in all bedrooms and living rooms, and fresh interior paint throughout. The property is 100% leased with professional management in place and includes 28 on-site parking stalls. Located in downtown Hilo — the county seat and regional hub for UH Hilo, healthcare, and government employment — supporting deep, stable rental demand. A recent condo conversion at a comparable Hilo building validates an embedded condo-conversion exit as additional upside. This is a trophy, renovated asset in a submarket where fully stabilized investment properties are rarely available for sale and is truly "turnkey" for a buyer. 5.5% cap rate on stabilized income!
MLS® Number732045
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age1973
Basement
DrivewayAssigned
Garage Spaces
Heat
A/C

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Jul 16, 2026List Date
$5,688,000List Price
  • Commute

Commute

Starting Address
Destination Address
230 Kapiolani St, Hilo, HI

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