4597 Lehua St #3, Kapaa, HI 96746
Local realty services provided by:Better Homes and Gardens Real Estate Hank Correa Realty
4597 Lehua St #3,Kapaa, HI 96746
$1,995,000
- 3 Beds
- 3 Baths
- 3,232 sq. ft.
- Single family
- Active
Listed by: donald g. pixler
Office: exp realty
MLS#:728017
Source:HI_HIS
Price summary
- Price:$1,995,000
- Price per sq. ft.:$617.26
About this home
This is a leasehold property. Ideal property for 1031 Exchange. Reliable rental income property. This is a unique property with panoramic ocean views, three vertical units, each rental unit comprises four floors.
Each Unit has: The Ground floor is a 2-car enclosed garage. The 2nd Floor is the Kitchen/dining room, full bath, and lanai/bedroom or officeThe 3rd Floor is a large living room, bedroom, and loft, with a lanai that leads to the 4th floor deck
The 4th Floor is a rooftop deck with 360 degree panoramic ocean and mountain views. There is virtually nothing that compares with the experience of seeing Kapaa in a way that very few will ever have. The covered lanai decking is sealed with Elastomeric Roof Coating. Total sq footage for all 3 units is 4,536.and is designated "live/work by the County of Kauai. The building is located in downtown Kapaa, two blocks from the ocean/beach park and the oceanfront bike/walking path.
Restaurants, coffee shops, grocery stores, banks, and public transportation are within walking distance. Architectural drawings, for 6 additional rental units, will be prepared next month and submitted for permit approval in Dec. I would estimate the income to be $3,500. per unit x 6 = $21k a mo- Insurance, P Taxes thus the net, assuming no debt would be approx $18,500 mo + the existing building's Gross of $11,100 Mo, paying the approx $2,300 mo ground lease, P Taxes and Insurance, Existing Netting $8,500 Mo. + Estimated Total ,would be $27,000. Mo . See the attached rendering of the proposed 6 units. The ground lease extends to 2083 and is extendable.Existing Tri- Plex ( with 3 -2 car garages ) June 1, 26 will be ,per leases $12,550. mo Gross Proposed 2 -3 unit buildings over existing parking. 1 June, 27 Projection $24,000. Mo Gross.Proposed 9 unit gross rent is projected to be $36,550. MoThe property is lease Hold with known ground rent rates through 2084 ,lease is extendable then.The current monthly...
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Home facts
- Year built:2004
- Listing ID #:728017
- Added:101 day(s) ago
- Updated:June 05, 2026 at 11:38 AM
Rooms and interior
- Bedrooms:3
- Total bathrooms:3
- Full bathrooms:3
- Flooring:Carpet, Ceramic Tile, Hardwood
- Kitchen Description:Microwave, Range, Refrigerator
- Living area:3,232 sq. ft.
Structure and exterior
- Year built:2004
- Building area:3,232 sq. ft.
- Lot area:0.23 Acres
- Lot Features:Corner Lot
Utilities
- Sewer:Sewer Connected
Finances and disclosures
- Price:$1,995,000
- Price per sq. ft.:$617.26
- Tax amount:$12,660 (2023)
Features and amenities
- Appliances:Microwave, Range, Refrigerator, Washer/Dryer Stacked
- Laundry features:Washer/Dryer Stacked
- Amenities:High Ceilings
Parking
- Parking description:Deeded
- Garage spaces:6
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