1139 PAPAKU Pl
Honolulu, HI 96814
List Price
$1,598,000 (FS)
- Property Type:
- Single Family
- Bedrooms:
- 3
- Full Baths:
- 1
- Half Baths:
- 0
- Land Area (sf):
- 6,750
- Living (sf):
- 680
- Lanai (sf):
- --
- Other (sf):
- --
- Parking Stalls:
- 5 - 3 Car+, Boat
- MLS #:
- 202324350
- Island:
- Oahu
- Region:
- Metro Oahu
- Neighborhood:
- MAKIKI AREA
- TMK:
- 1-2-4-012-022-0000
- List Date:
REMARKS:
EXCEPTIONAL INVESTMENT OPPORTUNITY: UNPRECEDENTED A-2 APARTMENT ZONED PROPERTY IN THE HEART OF MAKIKI! THIS EXTRAORDINARY OFFERING IS PRICED WELL BELOW THE 2023 REAL PROPERTY TAX LAND VALUE. FEATURING AN EXISTING WELL KEPT 3 BEDROOM/ 1 BATH 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 SQUARE FOOT UPON PROJECT COMPLETION. MOREOVER, THERE ARE NO PERMITTING OR UTILITY FEES TO WORRY ABOUT, POTENTIALLY EXEPEDIATED PERMITTING, AND A REMARKABLE 10 YEAR PROPERTY TAX EXEMPTION. IN FACT, SELLERS HAVE COPIES OF BUILDING PLANS SUBMITTED TO DPP FOR A 33 UNIT 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.TO BE CONVEYED AS IS.
PROPERTY INFORMATION:
- Zoning:
- 12 - A-2 Medium Density Apartme
- Furnished:
- None
- Year Built:
- 1954
- Year Remodeled:
- --
FINANCIAL INFORMATION:
- Assd. Val. Land:
- $1,672,800
- Assd. Val. Imprv:
- $48,900
- Assd. Val. Total:
- $1,721,700
- Tax Year:
- 2023
- Monthly Taxes:
- $503
- Home Exempt.:
- $0
SCHOOLS:
- Elem. School:
- --
- Middle School:
- --
- High School:
- --
OTHER PROPERTY FEATURES:
- Frontage:
- --
- View:
- None
- Pool:
- None
- Amenities:
- Wall/Fence
- Inclusions:
- Range/Oven, Refrigerator
- Security:
- Key
- Assn. Fee Inclusions:
- --
- Other Fee Inclusions:
- None
- Lot Description:
- Clear
- Topography:
- Level
- Number of Stories:
- One
- Building Style:
- Detach Single Family
- Property Condition:
- Average
- Construction:
- Above Ground, Single Wall
- Roofing:
- Asphalt Shingle
- Floor Covering:
- Laminate, Other
- Disclosures:
- Property Disclosure Stmt, See Remarks
- Possession:
- At Closing
- Terms Accept.:
- Cash, Conventional
- Land Recorded:
- Regular System
- Exclusions:
- --
- Easements:
- Electric, Sewer
- Set-Backs:
- C&C, Of Record
- Compensation*:
- 2.5
- 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 Thursday, May 9, 2024. Information is deemed
reliable but not guaranteed. Copyright: 2024 by HiCentral MLS, Ltd. Listing courtesy of RE/MAX Honolulu