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1139 Papaku Place, Honolulu, HI, 96814
Multi-dwelling in Makiki Area
$1,598,000Est. $9,008/mo
  • Active Actively looking for buyers.
  • Fee SimpleYou own the property outright.
  • 199 daysListed 11/04. Last updated 02/01.
  • Built in 1954Built 70 years ago.
Shay Kusumoto

Shayna Kusumoto

Compass | RS-85783
Message Shay about this property

What this multi-dwelling offers

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 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.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 & REMARKABLE 10 YEAR PROPERTY TAX EXEMPTION. IN FACT, SELLERS HAVE PLANS SUBMITTED TO DPP FOR A DEVELOPMENT OF A SUBSTANTIAL 33 UNIT 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 REACH OUT TO THE DEPARTMENT OF PLANNING & PERMITTING, LUO AND PROFESSIONALS LICENSED FOR DEVELOPMENT. TO BE CONVEYED AS IS.

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Where you'll live

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1139 Papaku Place, Honolulu, HI, 96814 is located in Makiki Area on Oahu.

More about this multi-dwelling

  • Tax ID 1-2-4-012-022-0000
  • Taxes$503/mo
  • HOA Fee: n/a
  • Property Type Multi-dwelling
  • Tenure Fee Simple
  • Construction Above Ground, Single Wall
  • Roof Asphalt Shingle
  • Year Built 1954
  • Lot Size 6,750 sqft
  • Views None
  • Parking Open
About HonoluluOpen and close this section

Honolulu homes come in a wide variety of styles and prices. While known for its luxury oceanfront estates, Honolulu has neighborhoods with affordable condos and modest homes for first-time buyers. Higher-priced inland homes on larger lots grace well-cared-for neighborhoods. As homes rise on hillsides, so do prices. Oceanfront luxury mansions and gated ridgeline estates with panoramic views are the most expensive homes in Honolulu. View all homes for sale in Honolulu.

Listing courtesy of Robert H Vernon from RE/MAX Honolulu, MLS #202325040. Contact: (808) 687-8900.

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