1139 Papaku Pl, Honolulu, HI, 96814

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.