Honolulu - Beach Property For Sale #5520686

This rare development opportunity at 1632, 1638, and 1644 Young St. offers a level, ready-to-develop site suitable for various uses, such as Bill 7 housing, mixed-use, and medical facilities. Located on the mauka side of Young St. with parcels on all three sides, this property provides excellent potential. The maximum allowable commercial density (FAR) is 0.4 (7,784 sq ft), with a building area of up to 50% of the zoning lot (9,730 sq ft). For structures exceeding 40 feet, additional rear and side setbacks are required, with an additional 1-foot setback for every 10 feet of height. The maximum FAR is 1.4892, providing a potential floor area of 28,979.83 sq ft. Additional features include 10-foot front, side, and rear yards, with allowances for parking lots and garages in the side and rear yards, subject to specific restrictions. Renderings illustrate potential development options. Priced at $7,449,000, this listing is based on the 2018 purchase price, adjusted for property taxes and six years of compounded loan interest, calculated at rates of 4%, 5%, and 6% over successive two-year periods.