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Active
1139 Papaku Place Honolulu, HI 96814
680 SqFt
UPDATED:
Key Details
Property Type Other Types
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 680 sqft
Price per Sqft $2,058
MLS Listing ID 202416131
Year Built 1954
Lot Size 6,750 Sqft
Acres 6750.0
Property Sub-Type Multi-Family
Property Description
PRICE IMPROVEMENT - 200K BELOW TAX ASSESSED VALUE FOR 2024! AN EXCEPTIONAL INVESTMENT OPPORTUNITY: UNPRECEDENTED A-2 ZONED PROPERTY IN THE HEART OF MAKIKI! FEATURING AN EXISTING WELL KEPT 3 BEDS/ 1BA SINGLE FAMILY HOME, IT ENJOYS A GREAT LOCATION JUST OFF THE MAIN THOROUGHFARE, SHARING A PAVED ROAD WITH THE POST OFFICE.WHAT MAKES THIS PROPERTY TRULY EXCEPTIONAL IS THE POTENTIAL FOR A BILL 7 REDEVELOPMENT PROJECT, ADDRESSING THE PRESSING NEED FOR AFFORDABLE HOUSING AND/OR THE POTENTIAL TO DEVELOP SENIOR CARE FACILITIES FOR OUR KAPUNA. UNDER BILL 7, YOU COULD BENEFIT FROM SUBSTANTIAL INCENTIVES, INCLUDING THE POSSIBILITY OF CITY GRANTS FOR UP TO $15.00 PER SQ.FT. UPON PROJECT COMPLETION. MOREOVER, THERE ARE NO PERMITTING OR UTILITY FEES TO WORRY ABOUT, POTENTIALLY EXPEDITED PERMITTING & REMARKABLE 10 YEAR PROPERTY TAX EXEMPTION.SELLERS HAVE A SET OF PLANS AVAILABLE FOR REVIEW. PLANS WERE FOR AN AFFORDABLE HOUSING PROJECT UNDER BILL 7. FOR FULL DETAILS AND TO EXPLORE THE DEVELOPMENT OPPORTUNITIES THIS PROPERTY HOLDS, BUYERS AND THEIR AGENTS SHOULD PERFORM THEIR DUE DILIGENCE AND CONSULT PROFESSIONALS PRIOR TO CLOSE . TO BE CONVEYED AS/IS.
Location
State HI
County Honolulu
Area Metro
Zoning Zone X
Interior
Heating Cable, Internet, Overhead Electricity, Public Water
Inclusions None
Furnishings None
Exterior
Parking Features Open
Garage Spaces 5.0
Utilities Available Cable, Internet, Overhead Electricity, Public Water
Amenities Available None
View None
Total Parking Spaces 5
Building
Lot Description Clear
Story One
Sewer Connected
Others
Ownership FS - Fee Simple
Listed by RE/MAX Honolulu