Makiki Multi Family

Overview

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.

Property Details

Building Type: Other
Construction Materials: Above Ground, Single Wall, Wood Frame
Location: Dead End, Inside, Other
Neighborhood: Makiki Area
Number Of Units Total: 1
Parking Features: Open
Parking Total: 5
Property Type: Residential Income
Building SqFt: 680
Total SqFt: 680
Status: Pending
Year Built: 1954

Additional Property Info

Disclosures: Property Disclosure Stmt, See Remarks
Days on Market: 81
Flood Zone: Zone X
Property Condition: Above Average, Average
Roof: Asphalt Shingle
Tax Amount: $502
Tax Assessed Value: $1,722,900
Tax Assessed Value Improvements: $50,100
Tax Assessed Value Land: $1,672,800
Topography: Level
Utilities: Cable, Internet, Overhead Electricity, Public Water
Zoning: 12 - A-2 Medium Density Apartme

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Courtesy of Robert H Vernon, RE/MAX Honolulu.
Based on information from the Multiple Listing Service of HiCentral MLS, Ltd. Information is deemed reliable but not guaranteed. Copyright 2025 by HiCentral MLS, Ltd.

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Makiki Multi Family

1139 Papaku Place, Honolulu, Oahu 96814 Get Directions

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