List Price $1,598,000 Fee Simple ❤
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XCEPTIONAL 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.
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MLS
Public
Single Family
Single Family
ContemporaryProperty Type
Sub Type
1139 Papaku Pl1139 Papaku Pl
Honolulu HI 96814Honolulu Hawaii 96814
Metro Makiki AreaLower Makiki
naKaahumanu Elem
naStevenson Int
naMcKinley High
Kaimuki-McKinley-RooseveltComplex
Public SchoolsRank
nana Builder
MLS 202324350TMK 1-2-4-12-22Property ID
33 Bedrooms
11 Full Baths
00Half Baths
11Total baths
0Rooms
5na Parking
680680 Interior sf
0 Lanai sf
0Other roofed sf
680Total sf
0 Gar/Cpt sf
6,7506,750 Land sf
$1,599,000 10/28/2023Original list
Active 182 DOMStatus
$1,598,000 List price
1/13/2024Last price change
Fee SimpleFee SimpleTenure
NoFractional
19541954Year built
0 naRemodeled
$ 0
$ 0
$ 0
$ 0
Includes:
None
AOAO fee
AOAO other
Maint fee
AOAO total fees
None View
LevelTopography
ClearLand Features
Regular SystemRecorded
A-2 Medium Density ApartmeA-2Zoning
Zone - XFlood Map
Tsunami Map
Flood
Dead EndLocation
City & County
Of Record
Setbacks
Electric
Sewer
Plat Map & Easements
Parcel Map
AverageCondition
Laminate
Other
Flooring
Asphalt ShingleRoof
Range/Oven
Refrigerator
Inclusions
naExclusions
NonePool
KeySecurity
Wall/FenceAmenities
naFrontage
Detach Single FamilyContemporary
Stories
Units
Architecture - sketch
naModel
County Rd
Paved Rd
Road
Connected
Water
Utilities
Above Ground
Single Wall
Materials
OneStoriesType
Disclosure Stmt
See Remarks
Disclosures
00Public Report
3 Car+
Boat
Parking
naAOAO Name
naAOAO Ph
naManagement Co Name
naManagement Co Ph
naBuyer Financing
na1st Mortgagor
na1st Mortgage
na2nd Mortgagor
na2nd Mortgage
No/naForeclosure/Case#
20232020Property tax year
$ 1,672,800$ 1,451,900Land assessed
$ 48,900$ 47,500Building assessed
$ 0$ 0Home owner exemption
$ 1,721,700$ 1,499,400Total assessed RPAD
$ 503$ 437Tax per month rates
0Total rent
Building Permits
At ClosingPossession
NoneSpecial
Cash
Conventional
Financing
Affordability
Apply Online
PDF application
NoneFurnished
NoNew development
Estimated summary Buyer closing statement
calculated at list price
x PriceTotalBuyer Share
0.260%4,15540.0%1,662+ ALTA Insurance
0.194%3,10150.0%1,551+ Escrow Fee
0%7256 3,213= Sub-total
(12,767)= Sub-Total
1,598,000 1,598,000+ Price
1,585,233= Est Cost to Buy*
* Excluding loan fees, pro-rations, special and sundry fees. Escrow companies and lenders also calculate estimated closing costs for you.
MonthlyCost to own estimate:
$ 503Real Property Tax
$ 0Association Fee
$ 0Lease Rent
$ 503Cost to own
(ex Mortgage, Ins & Elec)
10/24/2023Active
1/13/2024Price change
naContinue to show
naPending
naTemp withdrawn
naBack on market
naWithdrawn
naOff market
10/28/2023Status change
naAdvertise
naAuction
RE/MAX HonoluluListing Firm
r.vernon7@gmail.com Listing Participant
10/26/2023Photos uploaded
naSupplement Mod
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tapoffer.net © is provided by
Hawaii Home + Commercial LLC
1888 Kalakaua Ave C312, Waikiki, Honolulu, HI 96815
DCCA PV License # RB-20174
Affiliated Companies: Global Electronic Commerce LLC · Glass Commercial Properties Inc
 

Click for the BBB Business Review of this Real Estate in Honolulu HI
 

Robin Charles Glass (R), MBA, eng.
Principal Broker, Managing Member
DCCA PV License # RB-20173
Track Record: Top 2% Sales
Ph: (808) 358-1774
Email: glassr@hawaiihome.cc

Mami I. GLASS (MA)
Administrator, Managing Member
Ph: (808) 372-9136
Email: mamiglass@gmail.com

 
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