About 256 Kapiolani St
Fantastic Turnkey Multifamily INCOME Property in Hilo Opportunity Zone. An exceptional investment opportunity located near downtown Hilo. This professionally managed 15-unit apartment building features 15 onsite parking stalls and consists entirely of 2-bedroom, 1-bathroom units (approx. 660 sq. ft. each, totaling 9,900 sq. ft. of living area). Tenants enjoy ocean views from the second and third-floor walkways and a newly installed on-site laundry facility. The building has undergone extensive, high-quality capital improvements. All 15 units boast fully remodeled interiors with brand-new flooring, fresh paint, and completely updated bathrooms. The modernized kitchens include new cabinetry, quartz countertops, new refrigerators, stove hoods, and individual water heaters. Major structural and systemic upgrades provide immediate peace of mind for the new owner. All exterior walkways and stairways have been completely rebuilt. Crucial plumbing updates include a newly replaced main sewer line to the County road and new under-slab main floor sewer lines. Located in a highly desirable Opportunity Zone, this turnkey asset is perfectly positioned for a seamless transition. NDA required to review financials.
Features of 256 Kapiolani St
| MLS® # | 732420 |
|---|---|
| Price | $3,249,000 |
| Bedrooms | 30 |
| Bathrooms | 15.00 |
| Full Baths | 15 |
| Square Footage | 9,900 |
| Acres | 0.36 |
| Year Built | 1973 |
| Status | Active |
Additional Information
| Date Listed | September 10th, 2026 |
|---|---|
| Zoning | RM-1 |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
| HOA Fees Freq. | Monthly |
| Land Tenure | Fee Simple |
Community Information
| Address | 256 Kapiolani St |
|---|---|
| Subdivision | PONAHAWAI |
| City | Hilo |
| State | HI |
| Zip Code | 96720 |
Amenities
| View | Garden, Ocean |
|---|---|
| Is Waterfront | No |
| Has Pool | No |
Interior
| Appliances | Dryer, Range, Refrigerator, Washer |
|---|---|
| Heating | None |
| Cooling | None |
Listing Details
| Office | Sherrill A Erickson dba HALE 414 |
|---|