Coldwell Banker Home Page

Local Realty Service Provided By: Coldwell Banker Island Properties

Property view
Listing view 2
Listing view 3

256 Kapiolani St, 
Hilo, HI 96720

$3,249,000


30

Beds


15

Baths


9,900

Sq Ft


Multi-Family

Active

Listed by

Sherrill A Erickson

Sherrill A Erickson Dba Hale 414

808-960-0921

Last updated:

September 12, 2026, 02:36 AM

MLS#

732420

Source:

HI HIS

About This Home

256 Kapiolani St

Fantastic Turnkey Multifamily INCOME Property in Hilo Opportunity Zone. An exceptional investment opportunity located near downtown Hilo. This professionally managed 15-unit apartment building features 15 onsite parking stalls and consists entirely of 2-bedroom, 1-bathroom units (approx. 660 sq. ft. each, totaling 9,900 sq. ft. of living area). Tenants enjoy ocean views from the second and third-floor walkways and a newly installed on-site laundry facility. The building has undergone extensive, high-quality capital improvements. All 15 units boast fully remodeled interiors with brand-new flooring, fresh paint, and completely updated bathrooms. The modernized kitchens include new cabinetry, quartz countertops, new refrigerators, stove hoods, and individual water heaters. Major structural and systemic upgrades provide immediate peace of mind for the new owner. All exterior walkways and stairways have been completely rebuilt. Crucial plumbing updates include a newly replaced main sewer line to the County road and new under-slab main floor sewer lines. Located in a highly desirable Opportunity Zone, this turnkey asset is perfectly positioned for a seamless transition. NDA required to review financials.

Home Facts

Multi-Family

15 Baths

30 Bedrooms

Built in 1973

Subdivision & Development:

PONAHAWAI

Price Summary

3,249,000

$328 per Sq. Ft.

MLS #:

732420

Last Updated:

September 12, 2026, 02:36 AM

Added:

a month ago


Rooms & Interior

Bedrooms

Total Bedrooms:

30

Bathrooms

Total Bathrooms:

15

Full Bathrooms:

15

Interior

Living Area:

9,900 Sq. Ft.


Structure

Structure

Building Area:

9,900 Sq. Ft.

Year Built:

1973


Lot

Lot Size (Sq. Ft):

15,605


Finances & Disclosures

Finances

Price:

$3,249,000

Price per Sq. Ft:

$328 per Sq. Ft.

Source:HI HIS
Listing information © 2021 MLS Hawaii, Inc. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS. The MLS may, at its discretion, require use of other disclaimers as necessary to protect participants or the MLS from liability.

Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.

Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.