Water Views
Address
4597 Lehua St # 3, Kapaa, HI
Price
$ 1,995,000
Property Attributes
- MLS#728017
- TypeSingle Family
- Listing Status A
- CountyKAUAI
- CityKapaa
- AreaKawaihau
- NeighborhoodKAPAA TOWN LOTS
- Zip96746
- Style
- Year Built2004
- Taxes$ 12660
- Price$ 1,995,000
- Bedrooms3
- Full Bathrooms3
- Half Bathrooms0
- Sqr Footage3232
- Lot Size0.229339 Acres
Data Source:
Hawaii Info Service (HISMLS)
Property Description
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
| Price History | |
|---|---|
| 2/23/2026 | Listed $1,995,000 |
General Features
| Heating | None |
|---|---|
| Cooling | None |
| Utilities | Cable Available, Electricity Available, Phone Available, Sewer Connected, Underground Utilities |
| Appliances | Microwave, Range, Refrigerator, Washer/Dryer Stacked |
| Zoning | SPA-A |
| HOA Fee | 0.0 |
| Garage Spaces | 6.0 |
| Security Features | None |
| Land Tenure | Leasehold |
| Pets Allowed | Yes |
| Year Built | 2004 |
| View | City, Mountain(s), Ocean |
| Stories Count | 3 |
| Topography | Level |
| Unit Number | 3 |
| Property Subtype | Single Family Residence |
| Tax Year | 2023 |
| Ownership | Full |
| Assoc Fee Paid Per | Monthly |
| Property Type | Residential |
| Subdivision Name | KAPAA TOWN LOTS |
| Full Baths | 3 |
| Status | A |
| City | Kapaa |
| Number Of Units Total | 3 |
| Lot Size Units | Square Feet |
| Property Attached Y/N | Yes |
| Tax Annual Amount | 12660.21 |
| Home Warranty Y/N | No |
| Living Area Units | Square Feet |
| Standard Status | Active |
| Tax Assessed Value | 1439700 |
| Tax Lot | 5 |
| Listing Terms | Cash, Conventional, Purchase Money Mortgage |
| Assoc/CIC | None |
| AttributionContact | 8086359999 |
| LeasableAreaUnits | Square Feet |
| Structures YN | Yes |
Interior Features
| Interior Amenities | High Ceilings |
|---|---|
| Flooring | Carpet, Ceramic Tile, Hardwood |
| Total Bedrooms | 3 |
| Total Baths | 3 |
Exterior Features
| Parking Features | Deeded |
|---|---|
| Lot Features | Corner Lot |
| Lot Size Area | 9990.0 |
| Waterfront Y/N | No |
| Road Frontage Type | Road/Street |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Single Family Average in 96746
Price
Taxes
Year Built
Visits
© 2011 HiCentral MLS, Ltd. Information is deemed reliable but not guaranteed. Based on information from the Multiple Listing Service of Hicentral MLS, Ltd. Listings last updated on September 23, 2026 4:48 AM UTC Some of the active listings appearing on this site may be listed by other REALTORS®. We are only showing FEE SIMPLE, ACTIVE listings on this website.
2026© by Hawaii Information Service©. All Rights Reserved.
The information provided by AlohaLiving.com® has been compiled and provided in conjunction with 3rd Party sources. This information has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed. Last Update: September 23, 2026 4:35 AM UTC
REALTORS® Association of Maui, Inc. All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested
