Prime Multi-Unit Property with Income Potential & Owner-Occupant Opportunity<br><br>This exceptional multi-unit property, located on a spacious 26,640 sq ft lot with two private driveways, offers a unique opportunity for both investment and owner-occupancy. Recently remodeled and move-in ready, the layout ensures privacy for all units while maximizing rental income potential.<br><br>Front Home: Features three units:<br><br>Main Unit: A 3-bedroom, 2-bathroom home with generous living space, a large lanai, and a 2-car carport.<br>Upstairs Unit: A 1-bedroom, 1-bathroom unit with a kitchen, private access, exterior lanai, and 2-car carport.<br>Downstairs Unit: A 1-bedroom, 1-bathroom unit with its own carport, ideal for small households. All three units are occupied, generating reliable rental income.<br>Back Home: A spacious 4-bedroom, 2-bathroom home with a carport, currently vacant, offers an ideal opportunity for owner-occupancy. The back home also includes a 1-bedroom, 1-bathroom unit, which is being leased for additional rental income.<br><br>While distant ocean views from the back lanai enhance the peaceful atmosphere, the true value of this property lies in its versatility. The large lot offers ample space for landscaping, gardening, and additional privacy.<br><br>Whether you choose to live in the back home while collecting income from the front units or lease all units for maximum cash flow, this property offers long-term financial potential. A rare opportunity to invest in both a tranquil residence and a profitable rental property.<br><br>E Komo Mai (Welcome and Come on by)<br>The information herein, while deemed reliable, may contain inaccuracies or be incorrect & is provided without warranty or guarantee of any kind. Buyer & buyer's agent to perform due diligence and investigate & confirm all pertinent & material facts. Sold As-Is. There are no guarantees or warranties
For sale
$1,145,500
127 Kanoelani St #1, Hilo, HI 96720
7beds
5,746sqft
Est.:
Single Family Residence
Built in 1951
0.61 Acres Lot
$1,058,300 Zestimate®
$199/sqft
$-- HOA
What's special
Distant ocean viewsLarge lotTwo private drivewaysOwn carportPrivate accessLarge lanaiExterior lanai
- 225 days
- on Zillow |
- 537 |
- 12 |
Zillow last checked: 7 hours ago
Listing updated: August 06, 2025 at 08:02am
Listed by:
Gina Hara Chun 8089363297,
Hara Chun Realty, LLC
Source: Hawaii Information Service,MLS#: 712511
Travel times
Tour with a buyer's agent
Tour with a buyer's agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 7
- Bathrooms: 4
- Full bathrooms: 4
Appliances
- Included: Disposal, Dryer, Range, Range Hood, Refrigerator, Washer
Features
- Flooring: Carpet, Ceramic Tile, Hardwood, Vinyl
- Has fireplace: No
Interior area
- Total structure area: 5,746
- Total interior livable area: 5,746 sqft
Video & virtual tour
Property
Parking
- Total spaces: 1409
- Parking features: Attached, None
- Carport spaces: 1409
Features
- Levels: Two
Lot
- Size: 0.61 Acres
- Features: Grassy, See Remarks
Details
- Parcel number: 3240140520000
- Zoning: RS-15
- Special conditions: Fee Simple,Standard
Construction
Type & style
- Home type: SingleFamily
- Property subtype: Single Family Residence
Materials
- Wood Frame
Condition
- Year built: 1951
Utilities & green energy
- Sewer: Cesspool
- Utilities for property: Electricity Available
Community & HOA
Community
- Subdivision: WAIAKEA HOMESTEADS 1ST SERIES
Location
- Region: Hilo
Financial & listing details
- Price per square foot: $199/sqft
- Tax assessed value: $1,113,600
- Annual tax amount: $11,508
- Date on market: 1/4/2025
- Listing terms: Cash,Conventional
- Ownership: Full
- Electric utility on property: Yes
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