1139 Papaku Place
1139 Papaku Place
Honolulu, HI 96814
$1,598,000
Price
3
Beds
1
Bath
680 Sq. Ft.
$2,350 / Sq. Ft.
680
Sq. Ft.
$2,350
per Sq. Ft.
Description
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...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.
- Listed by Robert H Vernon • License #RS-72166 • RE/MAX Honolulu • (808) 687-8900
- Listed by Shuru Yang • License #RS-84777 • RE/MAX Honolulu • (808) 687-8900
Property Details for 1139 Papaku Place
Architectural Style
Detach Single Family
ViewNone
Zoning12 - A-2 Medium Density Apartme
NeighbourhoodMAKIKI AREA
Flood ZoneZone X
Stories/LevelsOne
Land TenureFS - Fee Simple
Location
Listing Courtesy of RE/MAX Honolulu, Robert H Vernon, License #RS-72166; RE/MAX Honolulu, Shuru Yang, License #RS-84777
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LISTING UPDATED: 02/01/2024 11:12 AM
Property Details for 1139 Papaku Place
| Status | Active |
|---|---|
| MLS # | 202324350 |
| Days on Market | 185 |
| Taxes | $503 / month |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Single Family |
| MLS Type | Residential / Single Family |
| Year Built | 1954 |
| Lot Size | 0.15 AC / 6,750 SF |
| County | Honolulu County |
Location
Listing Courtesy of RE/MAX Honolulu, Robert H Vernon, License #RS-72166; RE/MAX Honolulu, Shuru Yang, License #RS-84777
Add your commute
Building Information for 1139 Papaku Place
Stories-Year Built1954Building Size-Lot Size0.15 AC / 6,750 SF
Payment Calculator
$9,224 per month
30 year fixed, 7.25% Interest
Principal and Interest
$8,721
Property Taxes
$503
HOA Dues
$0
The Payment Calculator is for illustrative purposes only.
Property Information for 1139 Papaku Place
Summary
Location and General Information
- Topography: Level
- City: Honolulu
- County Or Parish: Oahu
- State Or Province: HI
- Location: Dead End
Taxes and HOA Information
- Association Fee 2 Includes: None
- Tax Amount: $503.00
- Tax Assessed Value: $1,721,700.00
- Tax Assessed Value Improvements: $48,900.00
- Tax Assessed Value Land: $1,672,800.00
- Tax Excemption Owner Occupancy: 0
- Tax Paid By Seller: No
- Tax Year: 2023
- Parcel Number: 1-2-4-012-022-0000
- HOA YN: No
Parking
- Parking Features: 3 Car+, Boat
- Parking Total: 5
Property
Lot Information
- Property Sub Type: Single Family
- Property Type: Single Family
- Road Frontage: County Rd, Paved Rd
- SQFT Roofed Living: 680.0
- Sqft Total: 680.0
- Land Recorded: Regular System
- Lot Features: Clear
- Lot Size Area: 6750.0
- Year Built: 1954
Property and Assessments
- Appliances: Range/Oven, Refrigerator
- Photo Count: 13
- New Development Construction: No
- Property Condition: Average
- Special Listing Conditions: None
- Disclosures: Property Disclosure Stmt, See Remarks
- Foreclosure: No
- Fractional Ownership: No
- Condo Property Regime: No
- Set Backs: C&C, Of Record
- TMK Area: 124
- TMK Condo Property Regime Number: 0
- TMK Division: 1
- TMK Parcel: 22
- TMKPLAT: 12
- TMK Section: 4
- TMK Zone: 2
- Secondary Dwelling: None
Utilities
- Utilities: Connected, Water
Interior and Exterior Features
Exterior Features
- Amenities: Wall/Fence
- Construction Materials: Above Ground, Single Wall
- Easements: Electric, Sewer
- Flooring: Laminate, Other
- Pool Features: None
- Roof: Asphalt Shingle
- Security Features: Key
Interior Features
- Baths Full: 1
- Baths Half: 0
- Baths Total: 1.0
- Beds Total: 3.0
- Furnished: None
- Room Count: 0
Agent
Sale and Listing
- Active Open House Count: 0
- DOM: 96
- Listing Service: Full Service
- MLS: HI Central
- MLS Area Major: Metro
- Open House Count: 2
- Status: Active
- Public Remarks: 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.
- Possession: At Closing
Showing and Remarks
- Showing Instructions: One Day Notice Reqd
Rental
Rent Information
- Occupant Type: Owner, Tenant
Property History for 1139 Papaku Place
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1139 Papaku Place
Taxable ValueLand$1,672,800Additions$48,900Total$1,721,700
Tax Record2022$5,462 ($455 / month)
Home Facts
Beds3Baths1Total Finished SqFt680 SqFtAbove Grade Finished SqFt680 SqFtStories1Lot Size6,750 SqFtStyleSingle Family ResidenceYear Built1954ZoningA-2CountyHONOLULUAPN1-2-4-012-022
Schools near 1139 Papaku Place
This home is within Hawaii Department Of Education.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Charter - | 4 to 12 |
Rating | School | Distance |
|---|---|---|
Queen Kaahumanu Elementary School PublicPK to 5 | ||
President George Washington Middle School Public6 to 8 | ||
President William Mckinley High School Public9 to 12 | ||
Halau Ku Mana Public Charter School Charter4 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.
Listing Courtesy of RE/MAX Honolulu, Robert H Vernon, License #RS-72166; RE/MAX Honolulu, Shuru Yang, License #RS-84777