| Description | PRICE REDUCTION! 5.5% 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. |
|---|---|
| Status | Active since 04-15-2025 |
| MLS# | 202510044 |
| Price | $5,388,000 |
| Original Price | $5,890,000 |
| Price Change | $-502,000 (-8.52%) |
| Studio Units | 0 |
| One Bed Units | 10 |
| Two Bed Units | 0 |
| Three Bed Units | 0 |
| Living Sq Ft | 6,507 |
| Land Sq Ft | 5,610 |
| Land Tenure | FS - Fee Simple |
| Maintenance Fee | $0 |
| Address | 54 Maluniu Avenue Kailua HI 96734 |
| Region | Kailua |
| Neighborhood | Kalama/Cnut Grov |
| Days on Market | 530 |
| Year Built | 1965 |
| Year Remodeled | 2023 |
| Condition | Excellent |
| View | None, Mountain |
| Frontage | Other |
| Parking | Assigned, Covered |
| Zoning | 32 - B-2 Community Business Dis |
| Flood Zone | Zone X |
| Elementary | Kailua |
| Middle | Kailua |
| High | Kailua |
| Tax Amount | $2,320 |
| Assessed Land | $1,458,600 |
| Assessed Building | $787,000 |
| Assessed Total | $2,245,600 |
| Assessed Ratio | 240% |
| Utilities | Internet, Overhead Electricity, Sewer Fee, Water |
| Construction | Masonry/Stucco |
| Lot Features | Clear |
| Disclosures | None |
| Land Recorded | Land Court |
| Possession | At Closing |
| Sale Conditions | None |
| Topography | Level |
| Roofing | Other |
| Easements | None |
| Parcel # | 1-4-3-031-027-0000 |
| Listing courtesy of | Standard Management LLC |
Property History from MLS
| Date | MLS# | Change | Old Value | New Value | List Price | Sold Price | Assessed Total | Land | Building |
|---|---|---|---|---|---|---|---|---|---|
| 06-15-2026 | 202510044 | Back On Market | T | A | $5,388,000 | $0 | $2,245,600 | $1,458,600 | $787,000 |
| 06-15-2026 | 202510044 | Price Decrease | $5,588,000 | $5,388,000 | $5,388,000 | $0 | $2,245,600 | $1,458,600 | $787,000 |
| 05-15-2026 | 202510044 | Hold | A | T | $5,388,000 | $0 | $2,245,600 | $1,458,600 | $787,000 |
| 01-21-2026 | 202510044 | Price Decrease | $5,600,000 | $5,588,000 | $5,388,000 | $0 | $2,245,600 | $1,458,600 | $787,000 |
| 01-21-2026 | 202510044 | Back On Market | T | A | $5,388,000 | $0 | $2,245,600 | $1,458,600 | $787,000 |
| 01-06-2026 | 202510044 | Hold | A | T | $5,388,000 | $0 | $2,245,600 | $1,458,600 | $787,000 |
| 08-20-2025 | 202510044 | Price Decrease | $5,890,000 | $5,600,000 | $5,388,000 | $0 | $2,245,600 | $1,458,600 | $787,000 |
| 04-21-2025 | 202510044 | New Listing | A | $5,388,000 | $0 | $2,245,600 | $1,458,600 | $787,000 | |
| 11-26-2022 | 202213661 | Sold | P | S | $3,495,000 | $3,315,000 | $1,922,000 | $1,430,600 | $491,400 |
| 10-03-2022 | 202213661 | In Escrow Not Showing | C | P | $3,495,000 | $3,315,000 | $1,922,000 | $1,430,600 | $491,400 |
| 09-06-2022 | 202213661 | In Escrow Showing | P | C | $3,495,000 | $3,315,000 | $1,922,000 | $1,430,600 | $491,400 |
| 09-06-2022 | 202213661 | In Escrow Not Showing | C | P | $3,495,000 | $3,315,000 | $1,922,000 | $1,430,600 | $491,400 |
| 09-06-2022 | 202213661 | In Escrow Showing | A | C | $3,495,000 | $3,315,000 | $1,922,000 | $1,430,600 | $491,400 |
| 08-29-2022 | 202213661 | Back On Market | P | A | $3,495,000 | $3,315,000 | $1,922,000 | $1,430,600 | $491,400 |
| 08-02-2022 | 202213661 | In Escrow Not Showing | A | P | $3,495,000 | $3,315,000 | $1,922,000 | $1,430,600 | $491,400 |
| 07-16-2022 | 202213661 | New Listing | A | $3,495,000 | $3,315,000 | $1,922,000 | $1,430,600 | $491,400 |
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