9 Beds
3 Baths
3,900 SqFt
9 Beds
3 Baths
3,900 SqFt
Key Details
Property Type Multi-Family
Sub Type Four Or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 3,900 sqft
Price per Sqft $137
Subdivision Waiakea
MLS Listing ID 723448
Bedrooms 9
Full Baths 3
HOA Y/N No
Year Built 1945
Annual Tax Amount $3,462
Tax Year 2025
Lot Size 4,322 Sqft
Property Sub-Type Four Or More Units
Source Hawaii Information Service
Land Area 4322
Property Description
Hoku Street,Hilo,HI 96720
This Downtown Hilo property offers strong income and even higher potential through room-by-room rentals. Homes rented by the room typically earn significantly more monthly income, provide more stable cash flow, and generate higher long-term returns. With 9 rentable rooms, 3 bathrooms, and 2 full kitchens (upstairs and downstairs), the property is already producing solid revenue and can be improved further.
Income & ROI:
• Current gross income: $70,000–$80,000+ per year
• At $535,000 — gross ROI of 13.1% at $70K/year or 15% at $80K/year
• Opportunity to increase ROI through optimized room-by-room rentals
• Additional tax benefits from depreciation and write-offs
• Multi-tenant setup reduces vacancy risk and enhances income stability
Why Room-by-Room Works Well Here:
• Higher total income than whole-house rentals
• Strong demand from students, workers, and medical professionals
• Ideal for investors seeking high NOI and rent per square foot
• Flexible layout suited for shared housing, workforce rentals, or multi-family use
Property Details:
• 9 total rooms
• 3 bathrooms
• 2 full kitchens
• Flexible layout for shared housing or rentals
• Potential to raise rental value with updates
Prime Downtown Hilo Location — walking distance to major employers, hospitals, colleges, stores, restaurants, beaches, parks, and public transportation. High rental demand and rare availability in this area.
Location
State HI
County Hawaii Island (big Island)
Community Waiakea
Area Hi
Zoning RD-3.75
Region South Hilo
City Region South Hilo
Interior
Flooring Laminate, Vinyl
Exterior
Parking Features Attached
Utilities Available Electricity Available, Other, Water Available
View Y/N No
Water Access Desc Public
Topography Level
Garage No
Private Pool No
Land Tenure Fee Simple
Waterfront YN No
Building
Lot Description Cleared, Dead End
Sewer Other
Others
Ownership Full
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Fee Simple, Standard
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