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Listed by RE/MAX Honolulu

$ 1,399,999

Est. payment -/mo

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Active Under Contract

1139 Papaku PL Honolulu, HI 96814

3 Beds

1 Bath

680 SqFt

UPDATED:

10/26/2024 08:52 PM

Key Details

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 680 sqft

Price per Sqft $2,058

Subdivision Makiki Area

MLS Listing ID 202415697

Style Detached

Bedrooms 3

Full Baths 1

Construction Status Average Condition,Good Condition

Year Built 1954

Annual Tax Amount $6,036

Property Description

LARGE PRICE IMPROVEMENT - 300K 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 COPIES OF BUILDING PLANS SUBMITTED TO DPP FOR A 33 UNIT 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. CONVEYED AS IS.

Location

State HI

County Oahu

Area Metro

Interior

Flooring Other

Inclusions Range/Oven, Refrigerator, Water Heater

Furnishings Unfurnished

Fireplace No

Exterior

Parking Features Boat, Three or more Spaces

Fence Fenced, Wall

Pool None

Utilities Available Other, Sewer Available, Water Available

View Y/N No

View None

Total Parking Spaces 5

Building

Lot Description Cleared, Interior Lot, Level

Entry Level One

Water Public

Architectural Style Detached

Level or Stories One

New Construction No

Construction Status Average Condition,Good Condition

Others

Tax ID 1-2-4-012-022-0000

Special Listing Condition None

Jesse Damron

Agent | License ID: RS-85581 | RB-24007

+1(808) 797-8881