Listed by Hawaii Commercial Real Estates
$1,500,000
1104 Palama ST
Details
APN 1-1-6-1-19
Property Type Mixed Use
Sub Type Multifamily
Square Footage 3,296
Cap Rate 1.34%
NOI $20,117
Tenancy Multi
Pro-Forma Cap Rate 7.57%
Pro-Forma NOI $113,609
Year Built 1910
Buildings 2
Lot Size (SqFt) 3,849
Zoning R-5 / CUP
Parking Spaces 4 spaces
Parking Per SqFt 1.21
Investment Type Value Add
Ground Lease No
Ownership Fee Simple
Sale Condition Distressed
Mixed Use | 1.34% CAP | 3,296 SqFt
Marketing description
Positioned at the intersection of Palama Street and a key Kalihi cross street, 1104 Palama St sits within one of Honolulu's most active urban redevelopment corridors - minutes from downtown, transit access, and a growing base of long-term residential demand.
Investment highlights
- VALUE-ADD & LEASE UP - OPPORTUNITY TO FILL UP VACANCY
- 7.57% PRO FORMA CAPRATE - COMPELLING STABILIZED RETURNS
- WITHIN TOD ZONE - RAIL-ADJACENT - PRIME KALIHI CORRIDOR TOD UPSIDE
- KALIHI REDEVELOPMENT AREA - CLOSE TO KAPALAMA CANAL PROJECT AND KS KAPALAMA KAI DEVELOPMENT AREA
- SCHOOL PROXIMITY - WALKABLE DISTANCE TO KAIULANI ELEMENTARY SCHOOL AND HONOLULU COMMUNITY COLLEGE
Listing Contacts
Listed by Hawaii Commercial Real Estates
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$20,116.56
$1,676.38/mo
Valuation Metrics
0
DSCR
1.34%
Cap Rate
1.34%
ROI
Map
Zoning
R-5 ResidentialTwo FamilyResidential District
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View all 122 uses
View all 122 uses Last updated May 8, 2026 For deeper zoning details, reports are available at Zoneomics
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