PRICE IMPROVEMENT - 200K BELOW TAX ASSESSED VALUE FOR 2024! AN

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Lot Sale Pending

1139 Papaku Place

Honolulu, Hawaii 96814

Island of Oahu

Community: Makiki Area

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$1,399,999 0.155 acres

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.

  • Lot Size: 0.155 acre
  • Lot Dimensions: 
  • View Types: None
  • Property Taxes: $6,024
  • MLS #: 202416131
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Contact Information:
phone Call now 1-855-943-4259
Beach Lot Sale Pending in Honolulu, Hawaii
Listing Agent: Robert H Vernon, RE/MAX Honolulu, 808-951-3200, 808-951-3200 Listing Site, Listing Status: Pending
Copyright © 2024 Honolulu Board of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Ad Number: 5232887
Viewed 39 times.
Updated: Nov 19, 2024

This property is a Lot located at 1139 Papaku Place, Honolulu, Hawaii 96814, and is currently Sale Pending at $1,399,999.