156 Kihapai St, Kailua, HI 96734

Rarely available INVESTMENT OPPORTUNITY in Kailua for A-2 ZONED property (Medium Density Apartments). Lots of possibilities and great rental income while you're doing your planning & permitting. The front dwelling has two 1 bedroom/1 bath units. The back dwelling is a 1 bedroom plus den/2 bath cottage. The tenants are on month-to-month leases, with a total rental income of $5,500/month. The property has 3 separate electric meters, tenants pay their own electricity and cable. Other exclusions - AC supplied by tenants. Short distance to Kailua Town and Kailua Beach; easy access to H-3 and Pali Hwy. By appointment only, please do not disturb the tenants. Pets on the property. TO BE SOLD "AS IS". SMA regulations apply. Seller may participate in 1031 Exchange. Also listed as Single Family.