$8,875,000
 $47,643 est/mo Sourced by Back At You

75-5749 Alahou Street,Kailua Kona, HI 96740

Kailua Kona, HI 96740

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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. Zoned RM-1

Details

MLS #202609233
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Days On Site105
Listing Provided ByPacific Realty Organization | Richard A Wheelock

Features

SQ Feet19,097
Story(s)2
Units25
ZoningNeighbor Island - See Remarks
Property ViewMountains, Ocean

Exterior

Construction MaterialsDouble Wall, Hollow Tile, Wood Frame

Other

Community FeaturesNone

Taxes

Property45960

Area Information

StateHI
CountyHawaii
CityKailua Kona
Zip Code96740
AreaBig Island
Community NameLONO KONA
School DistrictKealakehe
Elementary SchoolKahakai
High SchoolKealakehe
Listing VS Median (in LONO KONA)
Price:
$8,875,000
low | high
Med:
$8,875,000
50% of Average
sqft:
19,097
low | high
Med:
19,097
50% of Average
$ / sqft:
$465
low | high
Med:
$465
50% of Average
On site:
105
low | high
Med:
105
100% of Average
Sourced by Back At You

Market Activity 96740

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Additional Information

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Learn More About This Property

Michael Nevins

Michael Nevins

Coldwell Banker Island Properties

RS-88724 (831) 331-0146michaelnevins71@gmail.com
StateHI
CountyHawaii
CityKailua Kona
Zip Code96740
AreaBig Island
Community NameLONO KONA
School DistrictKealakehe
Elementary SchoolKahakai
High SchoolKealakehe
Listing VS Median (in LONO KONA)
Price:
$8,875,000
low | high
Med:
$8,875,000
50% of Average
sqft:
19,097
low | high
Med:
19,097
50% of Average
$ / sqft:
$465
low | high
Med:
$465
50% of Average
On site:
105
low | high
Med:
105
100% of Average
Sourced by Back At You
Listing Updated: May 21, 2026 at 1:30:35 PM PDT
©2026 Copyright Coldwell Banker Real Estate LLC. A Realogy Company. All Rights Reserved. Coldwell Banker, the Coldwell Banker Logo, Coldwell Banker Global Luxury, and the Coldwell Banker Global Luxury logo are service marks registered or pending registration owned by Coldwell Banker Real Estate LLC. Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each Office Is Independently Owned And Operated. Listing information is deemed reliable, but is not guaranteed.

This information is believed to be accurate. It has been provided by sources other than the Realtors Assoc. of Maui and should not be relied upon without independent verification. You should conduct your own investigation and consult with appropriate professionals to determine the accuracy of the information provided and to answer any questions concerning the property and structures located thereon. Featured properties may or may not be listed by the office/agent presenting this brochure. The listing broker’s offer of compensation is the dollar amount or percentage of sale price the listing broker offers to pay a broker who (a) participates in the multiple listing service where the listing broker filed the listing and (b) procures the buyer for a successful transaction. Copyright, 2026, REALTORS® Association of Maui, Inc. All Rights Reserved.

The information is being provided by HICentral MLS. Information deemed accurate but not guaranteed. Information is provided for consumers personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase. Copyright 2026 HICentral MLS. All Rights Reserved.

MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the Hawaii Information Systems.



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