54 Maluniu Ave Kailua, HI 96734
Estimated payment $34,850/month
Highlights
- Central Air
- Property is in excellent condition
- Community Storage Space
- Kailua Intermediate School Rated A-
- Level Lot
About This Home
5% cap rate on current income! This exceptional property offers 10 apartment units and 2 ground floor retail units in prestigious Kailua. The building was majorly renovated inside and outside including replacement of all utilities, new silicone waterproof roof and commercial grade gutter systems, all new stainless steel appliances, flooring, interiors, fencing and painting. All apartment units have dual-pane glass vinyl windows and balcony sliding doors, LED lighting, split AC units in bedrooms and living rooms, and individual full-size stacked LG washer-dryers located on the balconies. The 2 retail spaces benefit from a high visibility location in this upscale retail corridor. In addition to abundant street parking in the immediate area, there are 7 covered parking stalls. Located just moments from Whole Foods Market and Kailua Beach. This is a trophy, renovated asset in an incredibly desirable submarket where investment properties are rarely available for sale and could be “turnkey” for a buyer. The apartments and retails units have been split into separate TMKs (1-4-3-31-27-1 & -2) for lower property tax rates.
Listing Agent
Standard Management LLC Brokerage Phone: (808) 208-8107 License #RB-22000 Listed on: 04/15/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $27,840
Year Built
- Built in 1965
Lot Details
- 5,610 Sq Ft Lot
- Level Lot
- Property is in excellent condition
Interior Spaces
- 6,507 Sq Ft Home
- 3-Story Property
Laundry
- Laundry in unit
- Dryer
- Washer
Parking
- 7 Parking Spaces
- Covered Parking
- Assigned Parking
Schools
- Kailua Elementary And Middle School
- Kailua High School
Utilities
- Central Air
Listing and Financial Details
- Assessor Parcel Number 1-4-3-031-027-0000
Community Details
Overview
- 12 Units
- Kalama/Cnut Grov Subdivision
Amenities
- Community Storage Space
Building Details
- Operating Expense $74,264
- Net Operating Income $292,082
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $27,845 | $2,267,900 | $1,458,600 | $809,300 |
| 2024 | $27,845 | $2,245,600 | $1,458,600 | $787,000 |
| 2023 | $24,147 | $1,947,300 | $1,430,600 | $516,700 |
| 2022 | $23,833 | $1,922,000 | $1,430,600 | $491,400 |
| 2021 | $24,204 | $1,951,900 | $1,430,600 | $521,300 |
| 2020 | $24,532 | $1,978,400 | $1,430,600 | $547,800 |
| 2019 | $24,334 | $1,962,400 | $1,402,500 | $559,900 |
| 2018 | $20,808 | $1,678,100 | $1,122,000 | $556,100 |
| 2017 | $18,609 | $1,500,700 | $813,500 | $687,200 |
| 2016 | $16,356 | $1,319,000 | $645,200 | $673,800 |
| 2015 | $14,416 | $1,162,600 | $504,900 | $657,700 |
| 2014 | -- | $1,159,000 | $504,900 | $654,100 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 04/15/2025 04/15/25 | For Sale | $5,890,000 | +77.7% | $905 / Sq Ft |
| 11/28/2022 11/28/22 | Off Market | $3,315,000 | -- | -- |
| 11/25/2022 11/25/22 | Sold | $3,315,000 | -5.2% | $509 / Sq Ft |
| 09/06/2022 09/06/22 | Pending | -- | -- | -- |
| 08/29/2022 08/29/22 | For Sale | $3,495,000 | 0.0% | $537 / Sq Ft |
| 08/02/2022 08/02/22 | Pending | -- | -- | -- |
| 07/16/2022 07/16/22 | For Sale | $3,495,000 | -- | $537 / Sq Ft |
Source: HiCentral MLS (Honolulu Board of REALTORS®)
MLS Number: 202510044
APN: 1-4-3-031-027-0000
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
Some of the active listings appearing on this site may be listed by other REALTORS(R). If you are interested in those active listings, our company may represent you as the buyer's agent. If the active listing you are interested in is our company's active listing, you may speak to one of our agents regarding your options for representation.
Based on information from the Multiple Listing Service of HiCentral MLS, Ltd. Information is deemed reliable but not guaranteed. Copyright 2025 HiCentral MLS, Ltd
- 321 Kealahou Place
- 501 Kailua Rd Unit 1107
- 174 Hauoli St
- 453 Ulupaina St Unit A
- 75 Kihapai St Unit 12
- 75 Kihapai St Unit 10
- 445 Kailua Rd Unit 5101
- 50 Kamani Kai Place
- 47 Kaapuni Dr
- 455 Kailua Rd Unit 4204
- 455 Kailua Rd Unit 4104
- 245 Hualani St Unit B
- 245 Hualani St Unit A
- 188 N Kalaheo Ave
- 327 Hualani St Unit B
- 437 Kailua Rd Unit 6206
- 437 Kailua Rd Unit 6107
- 259 N Kalaheo Ave Unit A
- 322 Aoloa St Unit 1708
- 322 Aoloa St Unit 1110
- 234 Oneawa St
- 120 Mookua St
- 445 Ulupaina St Unit A
- 145 Kapaa St
- 322 Aoloa St Unit 4
- 322 Aoloa St Unit 1711
- 324 Hualani St
- 725 Kihapai Place Unit B2
- 324 Hualani St
- 307 Wanaao Rd Unit A
- 291 Awakea Rd Unit A
- 1030 Aoloa Place Unit 202A
- 3 Puukani Place
- 646 Akoakoa St
- 279 Hamakua Dr
- 675 Kihapai St
- 211 Akiohala St
- 504 Paopua Place
- 1123 Kainui Dr Unit 1123 Kainui 1BR Apartment
- 19 Alala Rd Unit 2