1139 Papaku Place, Honolulu, HI 96814
- $1,200,000
- 3
- BD
- 1
- BA
- 680
- SqFt
- Sold Price
- $1,200,000
- List Price
- $1,399,999
- MLS #
- 202415697
- Days on Market
- 281
- Closing Date
- Apr 21, 2025
- Status
- CLOSED
- Type
- Single Family Residential
- Bedrooms
- 3
- Full Baths
- 1
- Living Area
- 680
- Land Area
- 6,750
- Land Tenure
- FS - Fee Simple
- Neighborhood
- Makiki
- Subdivision
- Makiki Area
Property Description
LARGE PRICE IMPROVEMENT - 300K BELOW TAX ASSESSED VALUE FOR 2024! AN EXCEPTIONAL INVESTMENT OPPORTUNITY: UNPRECEDENTED A-2 ZONED PROPERTY IN THE HEART OF MAKIKI! FEATURING AN EXISTING WELL KEPT 3 BEDS/ 1BA 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 SQ.FT. UPON PROJECT COMPLETION. MOREOVER, THERE ARE NO PERMITTING OR UTILITY FEES TO WORRY ABOUT, POTENTIALLY EXPEDITED PERMITTING & REMARKABLE 10 YEAR PROPERTY TAX EXEMPTION.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. CONVEYED AS IS.
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Additional Information
- Island
- Oahu
- Utilities
- Other, Sewer Available, Water Available
- View
- None
- Lot Size
- 6,750
- Construction Materials
- Single Wall
- Pool Features
- None
- Neighborhood
- Makiki
- Furnished
- Unfurnished
- Year Built
- 1954
- Inclusions
- Range/Oven, Refrigerator, Water Heater
- Parking Features
- Boat, Three or more Spaces
- Lot Features
- Cleared, Interior Lot, Level
- Style
- Detached
- Stories
- 1
- Assessed Total
- 1722900
- Water
- Public
Mortgage Calculator
Listing courtesy of RE/MAX Honolulu. Selling Office: Oceans Real Estate.
Based on information from the Multiple Listing Service of Hicentral MLS, Ltd. Listings last updated on . Information is deemed reliable but not guaranteed. Copyright: 2025 by HiCentral MLS, Ltd. IDX information is provided exclusively for consumers' personal, non-commercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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