75-5749 Alahou Street, Kailua-Kona, HI 96740

Alahou Apartments presents a rare opportunity to acquire a newer-construction, fee simple multifamily asset in the heart of Kailua-Kona. Located at 75-5749 & 75-5757 Alahou Street, Kailua-Kona, Hawaii, this 25-unit apartment community sits on a 25,853-square-foot corner lot within walking distance of Kona’s vibrant retail, dining, and entertainment district. Built in 2012 and 2018, the property features two well-maintained buildings in excellent condition with ample on-site parking, offering a highly attractive unit mix of 15 studio units and 10 two-bedroom units. Its central Kona location supports historically strong occupancy and rental demand, driven by convenient access to employment centers, schools, daily services, and resort-area amenities. Offered at $8,875,000, the asset is 98% occupied and includes a projected 2025 NOI of $482,470 with a 5.5% cap rate. Alahou Apartments combines modern construction, strong in-place performance, and limited competitive housing supply in one of Hawaii Island’s most desirable coastal markets. This is an exceptional investment opportunity for buyers seeking stable cash flow and long-term upside in the heart of Kona.