WHERE ELSE WILL YOU FIND A 5.5% ACTUAL CAP RETURN IN TOWN??? 12 studios, 1 two-bedroom with 5 parking spaces grossing $210,420/year and an actual cap of 5.5% with the ability to increase rents! New paint and doors, many new interiors, covered laundry area, and unbeatable location in Makiki. Off the ground construction means repairs are simpler than concrete construction. One electric meter, so landlord pays, but average cost is about $550/mo! One water meter, one gas meter.