| Description | Mixed-use investment opportunity in Kalihi featuring two buildings and nine residential rooms. The ground floor commercial unit has a CUP in place with roll-up door access and direct street frontage — suitable for retail, grocery, or light industrial use. Building B is currently occupied generating $4,000/month. Building A is actively under renovation. Priced at $1,500,000 with a stabilized cap rate of 7.8–9.0%. The surrounding Kalihi corridor has strong long-term redevelopment fundamentals. Conditional Use Permit (CUP) — Protected Commercial Use The commercial unit carries a CUP, securing its legal commercial operating status within the R-5 residential zone. This rare entitlement protects lender and tenant confidence and is a meaningful differentiator at this price point. |
|---|---|
| Status | Active since 06-26-2026 |
| MLS# | 202612402 |
| Price | $1,490,000 |
| Original Price | $1,500,000 |
| Price Change | $-10,000 (-0.67%) |
| Studio Units | 0 |
| One Bed Units | 0 |
| Two Bed Units | 1 |
| Three Bed Units | 2 |
| Living Sq Ft | 3,296 |
| Land Sq Ft | 3,849 |
| Land Tenure | FS - Fee Simple |
| Maintenance Fee | $0 |
| Address | 1104 Palama Street Honolulu HI 96817 |
| Region | Metro |
| Neighborhood | Kapalama |
| Days on Market | 93 |
| Year Built | 1905 |
| Year Remodeled | 2025 |
| Condition | Average |
| View | None |
| Frontage | Other |
| Parking | Open |
| Zoning | 05 - R-5 Residential District |
| Flood Zone | Zone X |
| Tax Amount | $1,127 |
| Assessed Land | $923,800 |
| Assessed Building | $167,800 |
| Assessed Total | $1,091,600 |
| Assessed Ratio | 136% |
| Utilities | Cable, Internet, Public Water, Sewer Fee, Water |
| Construction | Above Ground, Wood Frame |
| Lot Features | Clear |
| Disclosures | None |
| Land Recorded | Land Court |
| Possession | At Closing |
| Sale Conditions | None |
| Topography | Level |
| Roofing | Asphalt Shingle |
| Easements | Other |
| Parcel # | 1-1-6-001-019-0000 |
| Listing courtesy of | Fogarty Realty, Inc. |
Property History from MLS
| Date | MLS# | Change | Old Value | New Value | List Price | Sold Price | Assessed Total | Land | Building |
|---|---|---|---|---|---|---|---|---|---|
| 07-31-2026 | 202612402 | Price Decrease | $1,500,000 | $1,490,000 | $1,490,000 | $0 | $1,091,600 | $923,800 | $167,800 |
| 06-26-2026 | 202612402 | New Listing | CS | A | $1,490,000 | $0 | $1,091,600 | $923,800 | $167,800 |
| 06-26-2026 | 202612402 | Coming Soon | CS | $1,490,000 | $0 | $1,091,600 | $923,800 | $167,800 | |
| 01-07-2014 | 1300707 | Expired | A | X | $950,000 | $0 | $447,200 | $398,400 | $48,800 |
| 01-18-2013 | 1300707 | New Listing | A | $950,000 | $0 | $447,200 | $398,400 | $48,800 |
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