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1139 PAPAKU Pl (Makiki)

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1139 PAPAKU Pl, Honolulu
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Call agent (808) 343-5000 or use contact form.
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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 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.
Recent Activity
  • Jan 13, 2024 Price $1,598,000
  • Oct 28, 2023 Listed at $1,599,000
Past Sales
Blog
More Details
  • Owner, Tax & Resale History
  • Price / ft²: $2,350
  • Other Homes Price / ft²
  • Cash vs Financing Buyers
  • Zoning: 12 - A-2 Medium Density Apartme
  • Flood Zone: Zone X
  • Furnished: None
  • Property Condition: Average
  • Security Features: Key
  • Amenities: Wall/Fence
  • TMK: 1-2-4-12-22-0
  • Tax Assessed Land: $1,672,800
  • Tax Assessed Improvements: $48,900
  • Tax Assessed Total: $1,721,700
  • Courtesy: RE/MAX Honolulu / (808) 687-8900
  • MLS: 202324350
Ask Tanner a Question
Good to Know
See our video of Makiki Heights homes.

Makiki - the childhood neighborhood of President Barack Obama - is an older established neighborhood of approximately 500 homes just north-east of downtown Honolulu, bordered by Punchbowl to the west and Manoa to the east. Makiki homes for sale are often valued between $600K to $1M on lot sizes between 2,000 to 9,000 sq ft. Makiki Heights homes for sale tend to be more valuable at $850K to $8M with lot sizes between 5,000 sq ft to 1 acre plus.

Makiki consists of 2 distinct communities: Makiki with mostly modest homes on the flat section hugging the   .....
Read more.
The MLS properties are based on information from the Multiple Listing Service of Hicentral MLS, Ltd. Listings last updated on April 26, 2024. Information is deemed reliable but not guaranteed.
Other Makiki Homes
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1729 Keeaumoku St
4 Bds | 3 Ba
1,237 ft²
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1729 Keeaumoku St
5 Bds | 3 Ba
1,696 ft²
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2023 Round Top Dr
6 Bds | 4 Ba
2,323 ft²
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2069 Mauna Pl
6 Bds | 4 Ba
2,881 ft²
Other Honolulu Homes
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1450 Keeaumoku St
3 Bds | 2.5 Ba
1,123 ft²
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1952 Dole St
3 Bds | 2 Ba
808 ft²
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3093 Kahaloa Dr
3 Bds | 2.5 Ba
1,380 ft²
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3724 Loulu St
3 Bds | 2 Ba
1,720 ft²
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2838 Manoa Rd
4 Bds | 1.5 Ba
1,640 ft²
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1559 Ala Amoamo St
3 Bds | 2.5 Ba
2,800 ft²
  • Asking Price: $1,598,000
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 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.
    The MLS properties are based on information from the Multiple Listing Service of Hicentral MLS, Ltd. Listings last updated on April 26, 2024. Information is deemed reliable but not guaranteed.
    • Jan 13, 2024 Price $1,598,000
    • Oct 28, 2023 Listed at $1,599,000
    See our video of Makiki Heights homes.

    Makiki - the childhood neighborhood of President Barack Obama - is an older established neighborhood of approximately 500 homes just north-east of downtown Honolulu, bordered by Punchbowl to the west and Manoa to the east. Makiki homes for sale are often valued between $600K to $1M on lot sizes between 2,000 to 9,000 sq ft. Makiki Heights homes for sale tend to be more valuable at $850K to $8M with lot sizes between 5,000 sq ft to 1 acre plus.

    Makiki consists of 2 distinct communities: Makiki with mostly modest homes on the flat section hugging the   .....
    Read more.
    Other Makiki Homes
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    1729 Keeaumoku St
    4 Bds | 3 Ba
    1,237 ft²
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    1729 Keeaumoku St
    5 Bds | 3 Ba
    1,696 ft²
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    2023 Round Top Dr
    6 Bds | 4 Ba
    2,323 ft²
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    2069 Mauna Pl
    6 Bds | 4 Ba
    2,881 ft²
    You do not own the land, but have the right to use the land until an expiration year. At expiration the ownership typically reverts back to the land owner.
    Buyer and Seller have reached an agreement and are under contract. However, the sale is still subject to one or more contingencies.
    We have handled many transactions for clients who purchase Hawaii real estate without visiting. By request, we can prepare thorough property videos to ensure you are familiar with every detail necessary. All documents can be signed remotely.
    Buyer and Seller have reached an agreement and are under contract. The sale is expected to close / record soon.
    We will be happy to work with you as a Buyer's agent. Call us to learn more: 808-943-9000.
    Note: A Seller's agent has a fiduciary responsibility towards the Seller. Working with a Buyer's agent objectives and goals are aligned, at no cost to you, the Buyer.
    Other fees could be a special assessment, reserve contributions etc.
    DOM = Days On Market. Our site shows listings immediately. A brand new listing may show DOM 2 or 3 days, if listing agent did not upload the same day listing agreement was executed.
    Includes estimated monthly mortgage payment, maintenance / HOA fees & property taxes. The estimate does not include insurance premiums.
    Learn about property tax rates.