Multi-family Rentals in Hilo | 76 E Palai St
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Multi-family Rentals in Hilo 76 E Palai St
3 Unit Block of Flats £664,300 (£221,433/Unit) 7.50% Net Initial Yield Hilo, HI 96720
Investment Highlights
- Great location in Hilo town
- Plenty of parking space
Executive Summary
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
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.
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.
Renovations on all three units:
New roofing & refinished
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.
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.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | £664,300 | Building Class | C |
| Price Per Unit | £221,433 | Lot Size | 0.46 AC |
| Sale Type | Investment | Building Size | 2,092 SF |
| Net Initial Yield | 7.50% | Average Occupancy | 100% |
| No. Units | 3 | Number of Floors | 1 |
| Property Type | Residential | Year Built/Renovated | 1955/2024 |
| Property Subtype | Apartment | Parking Ratio | 6.21/1,000 SF |
| Apartment Style | Single Family Home | Opportunity Zone |
Yes
|
| Price | £664,300 |
| Price Per Unit | £221,433 |
| Sale Type | Investment |
| Net Initial Yield | 7.50% |
| No. Units | 3 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Single Family Home |
| Building Class | C |
| Lot Size | 0.46 AC |
| Building Size | 2,092 SF |
| Average Occupancy | 100% |
| Number of Floors | 1 |
| Year Built/Renovated | 1955/2024 |
| Parking Ratio | 6.21/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Yard
- Den
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+1 | 3 | - | - |
1 of 1
PROPERTY TAXES
| Parcel Number | 3-2-2-055-011-0000 | Total Assessment | £189,431 (2024) |
| Land Assessment | £87,947 (2024) | Annual Taxes | -£1 (£0.00/sf) |
| Improvements Assessment | £101,484 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
3-2-2-055-011-0000
Land Assessment
£87,947 (2024)
Improvements Assessment
£101,484 (2024)
Total Assessment
£189,431 (2024)
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2023
zoning
| Zoning Code | RS-10 (Residential) |
| RS-10 (Residential) |
-
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Multi-family Rentals in Hilo | 76 E Palai St
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