Listing
Overview
Price: $1,375,000
Area: ALIAMANU
Status: Active
Fantastic opportunity to own one of the largest and lowest cost Bill 7 qualified properties in the Honolulu Metro area! Architectural rendering is for illustrative purposes only. Bill 7 encourages new multifamily development by offering huge fee waivers for water, sewer, permits and 10 years of property tax abatement for a new building! DPP has approved construction of an 8 unit (2br/1ba) apartment building. Larger (24 unit) build, inquire w/ DPP. Golf-course view for new apartment/condo building structure above 3 stories. Conveniently located with easy access to freeways, Aloha Stadium, Salt Lake and Moanalua Shopping centers. Existing 7500sf level lot has a 2BR/1BA home in the rear (3-car covered parking under the home) and a duplex (each with 2BR/1BA) in the front. Each unit is approximately 600sf with separately metered electric and water with own washer/dryer. Current rents have been fixed since 2018 and pro-forma rent-roll is $68,400/yr. Good income property, but unique Bill 7 development opportunity can be transformational for the right investor. Buyers to complete all due diligence that they deem material. Sold AS-IS. Please use commercial PSA. Include AS IS addendum. Listing by: Real Capital Advisors, LLC
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- Land Area (sf): 7,500 sf
- Living (sf): 1,800
- Year Built: 1954
- Property Condition: Average,Fair
- Number of Parking Spaces: 8
- View: None
- Listing Office: Real Capital Advisors, LLC
- Land Tenure: FS - Fee Simple
