702 Prospect St

702 Prospect St
Honolulu, HI 96813

For Sale

Sold

Sold Price

$2,400,000 (FS)

List Price

$3,300,000 (FS)

Property Type:: Single Family
Bedrooms:: 4
Full Baths:: 2
Half Baths:: 0

Land Area (sf):: 4,814
Living (sf):: 1,364
Lanai (sf):: --
Other (sf):: --

Parking Stalls:: 2 - 2 Car, Garage, Street

MLS #:: 202121149
Island:: Oahu
Region:: Metro Oahu
Neighborhood:: PUNCHBOWL AREA
TMK:: 1-2-2-004-033-0000

List Date:: August 21, 2021
Date Sold:: July 01, 2022

REMARKS:

Special A2 zoned development opportunity. Located contiguous to the corner of Alapai/Prospect Sts, this property is being sold together with 1617 Alapai St, MLS #202121143 for a total of 10, 732 sq ft as part of an estate sale. These properties have not been marketed since 1953 and represent an ideal opportunity for redevelopment into higher density residential/apartment use and development under Bill 7. 702 Prospect and 1617 Alapai each contain 2 dwellings with 3 rental units each for a total of 6 rental units. The location is ideally located on the slope of Punchbowl. Buyer to do their own due diligence as to development ability. These properties are a very rare chance to own A2 zoned land in probably the most premier A2 zoned land on Oahu. A beautiful residential area with close proximity to Downtown and skyrocketing land values. Some of the units are on month to month rental agreements significantly below market value. Please do not disturb the occupants.

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PROPERTY INFORMATION:

Zoning:: 12 - A-2 Medium Density Apartme
Furnished:: --

Year Built:: 1935
Year Remodeled:: --

FINANCIAL INFORMATION:

Assd. Val. Land:: $923,500
Assd. Val. Imprv:: $77,100
Assd. Val. Total:: $1,000,600

Tax Year:: 2021
Monthly Taxes:: $292
Home Exempt.:: $0

SCHOOLS:

Elem. School:: --
Middle School:: --
High School:: --

OTHER PROPERTY FEATURES:

Frontage:: --
View:: City, Ocean
Pool:: None
Amenities:: --
Inclusions:: Other
Security:: --
Assn. Fee Inclusions:: --
Other Fee Inclusions:: None

Lot Description:: Other
Topography:: Gentle Slope
Number of Stories:: Two
Building Style:: Detach Single Family, Multiple Dwellings
Property Condition:: Fair
Construction:: Single Wall
Roofing:: Asphalt Shingle
Floor Covering:: Other

Disclosures:: Property Disclosure Stmt
Possession:: At Closing, Subject to Rental Lease
Terms Accept.:: Cash, Conventional, Other
Land Recorded:: None

Exclusions:: --
Easements:: None
Set-Backs:: C&C

Compensation*:: 1.5%
Compensation Type:: --

* The offer of compensation to cooperating brokers is made only to the Participants and MLS Subscribers of HICMLS or Participants and MLS Subscribers of other Reciprocating Boards as set forth in that certain Multiple Listing Service Reciprocal Agreement, as amended from time to time, which is incorporated herein by reference.

Based on information from the Multiple Listing Service of HiCentral MLS, Ltd. listings last updated on Friday, April 26, 2024. Information is deemed reliable but not guaranteed. Copyright: 2024 by HiCentral MLS, Ltd. Listing courtesy of Nathalie Mullinix R. U., Inc.