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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

UPDATED:

10/26/2024 08:52 PM

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active Under Contract

Purchase Type For Sale

Subdivision Makiki Area

MLS Listing ID 202416131

Construction Status Average Condition,Good Condition

Year Built 1954

Annual Tax Amount $6,024

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 Oahu

Area Metro

Interior

Furnishings Unfurnished

Fireplace No

Laundry None

Exterior

Parking Features Open

Community Features None

Utilities Available Above Ground Utilities, Cable Available, Electricity Available, High Speed Internet Available, Water Available, Sewer Connected

View Y/N No

View None

Total Parking Spaces 5

Building

Lot Description Cleared, Dead End, Interior Lot, Other, Level

Dwelling Type Other

Entry Level One

Sewer Connected

Water Public

Level or Stories One

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