75-195 ALA ONAONA ST, KAILUA-KONA, HI 96740

INVESTMENT OPPORTUNITY – 6% CAP RATERare Multi-Building Income Property in the Heart of Kailua-KonaNow offered is a unique investment opportunity to acquire two legal residential buildings situated in the desirable Lono-Kona Subdivision, just a short stroll from Kailua Pier, restaurants, shops, and all the conveniences of Kona town.Set back from the buzz of Ali‘i Drive, this private compound features two spacious homes - currently utilized as a 13-bedroom / 6-bath income property, offering excellent rental income and strong occupancy potential. Some ocean views add even more appeal for tenants or future vacation rental potential.Zoned RD-3.75 (Double-Family Residential District), this property offers rare zoning flexibility, with a minimum land area requirement of 3,750 SF per dwelling unit. This opens up possibilities for creative long-term or multi-generational rental configurations.Highlights include:- Property Manager on the site- County sewer connection- New exterior and interior paint- New paint on the roof- Walking distance to dining, retail, beaches, and the harbor- Minutes to Lanihau Center with full-service grocery, restaurants, bowling, post office, salon & more. Ideal for ocean sports enthusiasts - kayaking, sunset sails, all nearbyRare zoning + multiple units + income = excellent long-term valueThis is a must-see opportunity for savvy investors seeking a well-located, high-yield property in one of Kona’s most vibrant and walkable neighborhoods.Act quickly - this prime investment won’t last long!

Listed by: COMPASS
Year Built: 1971
Levels: Two

Garage Spaces:
Carport Spaces:
Parking Features: Unassigned
Additional Structures:
Home Warranty:

Lava Zone: 4
Flood Zone: X

Zoning: RD-3.75
Horse Amenities:

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