9 Beds
3 Baths
3,900 SqFt
9 Beds
3 Baths
3,900 SqFt
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 3,900 sqft
Price per Sqft $101
Subdivision Hilo
MLS Listing ID 202518347
Style Multiplex
Bedrooms 9
Full Baths 3
Construction Status Average Condition
HOA Y/N No
Year Built 1945
Annual Tax Amount $3,468
Property Sub-Type Single Family Residence
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 $495,500 — 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
Location
State HI
County Hawaii
Area S. Hilo
Interior
Flooring Laminate, Vinyl
Inclusions None
Fireplace No
Exterior
Parking Features Carport, Two Car Garage, Two Spaces
Garage Spaces 2.0
Garage Description 2.0
Pool None
Utilities Available Above Ground Utilities, Electricity Available, Water Available
View Y/N No
View None
Total Parking Spaces 2
Building
Lot Description Cleared, Dead End, Level
Entry Level Two
Water Public
Architectural Style Multiplex
Level or Stories Two
New Construction No
Construction Status Average Condition
Others
Tax ID 3-2-2-016-033-0000
Special Listing Condition None
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "