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1525 Piikoi Street

Honolulu, HI 96822
  • $2,190,000
  • STATUS: Active
  • ON SITE: 148 Days
  • MLS #: 202322196
UPDATED: 20 min ago
$2,190,000
  • 0
    BEDS
  • 0.16
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 3,123
    SQFT
  • $701
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1927
County:
Area:

School Ratings & Info

Description

This property boasts an exceptional location along Piikoi Street. The rental income is currently stable but presents significant potential for growth. Prospective new owners have the option to retain it as an income-producing property or leverage Bill 7 to develop a 34-unit apartment complex. Presently, a comprehensive 34-unit Bill 7 building plan is undergoing thorough review by the Department of Planning and Permitting (DPP). The sale package encompasses the newly devised building plan, a complete survey, and engineering reports.Notably, Piikoi Street is subject to a road widening plan. Nevertheless, the seller has secured a letter of approval from the DPP, granting permission for the construction of a 34-unit apartment. Furthermore, the sewer application has received official approval.The property consists of two existing structures: the front structures encompass 3 one-bedroom units and 5 studios, all inclusive of electricity and water in the rent. Additionally, 3 studios are located in the rear structure. It is worth noting that 2 out of the 11 units are equipped with dedicated gas meters.

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© 2024 HiCentral MLS, Ltd. All rights reserved.
Some of the active listings on this site may be listed by other REALTORS®. If you are interested in those active listings, our company may represent you as the buyer's agent. If the active listing you are interested in is our company's active listing, you may speak to one of our agents regarding your options for representation.

IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Hawaii Dream Homes.

Licensed in the State of Hawaii, USA.
www.hawaiidreamhomes.com/homes/144045548
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1525 Piikoi Street Honolulu, HI 96822

  • Price: $2,190,000
  • Status: Active
  • On Site: 148 Days
  • Updated: 20 min ago
  • MLS #: 202322196
0
Beds
0
Baths
0
½ Baths
0.16
Acres
3,123
SQFT
$701
$/SQFT
1927
Built
Neighborhood:
Makiki Area
County:
Oahu
Area:
Metro
Property Description
This property boasts an exceptional location along Piikoi Street. The rental income is currently stable but presents significant potential for growth. Prospective new owners have the option to retain it as an income-producing property or leverage Bill 7 to develop a 34-unit apartment complex. Presently, a comprehensive 34-unit Bill 7 building plan is undergoing thorough review by the Department of Planning and Permitting (DPP). The sale package encompasses the newly devised building plan, a complete survey, and engineering reports.Notably, Piikoi Street is subject to a road widening plan. Nevertheless, the seller has secured a letter of approval from the DPP, granting permission for the construction of a 34-unit apartment. Furthermore, the sewer application has received official approval.The property consists of two existing structures: the front structures encompass 3 one-bedroom units and 5 studios, all inclusive of electricity and water in the rent. Additionally, 3 studios are located in the rear structure. It is worth noting that 2 out of the 11 units are equipped with dedicated gas meters.
Exterior Features

Construction Materials Above GroundDouble WallWood Frame Lot Description Other Other Parking None Parking Assigned Parking Total 6 Roof Asphalt Shingle Stories One Topography Level View None

Interior Features

Elevators 0 Furnished None Laundry CoinDryerWasher Remodeled Year 1960 Sq Ft Building 3123

Property Features

1 Bed Units 4 2 Bed Units 0 3 Or More Bed Units 0 Amenities A/C Annual Expenses 51587.00 Assessed Value Improvements 155700.00 Assessed Value Land 1650200.00 Assessed Value Total 1805900.00 Building Type Multi Dwellings Disclosures None Documents Building PlansSurvey Easements Street Widening Expenses Include Excise TaxInsuranceMgmt FeeProperty Tax Flood Zone Zone X Foreclosure YN No Land Recorded Regular System Land Tenure FS - Fee Simple Listing Financing CashConventional Management Company Oceans Real Estate Net Operating Income 77713.00 Other Income 177.00 Possession At Closing Property Condition Fair Recreation Facilities None Set Backs C&COf Record Sewer Connected Special Sale Conditions None Studio Units 7 Tax Amount 526.70 Tax Annual Amount 6320.40 Tax Paid By Seller No Tax Year 2023 Tenant Pays Cable TV Total Actual Rent 10775.00 Total Income 129300.00 Utilities Available GasOverhead ElectricityWater Utilities Meters ElectricGasWater Zoning 12 - A-2 Medium Density Apartme

Listings provided courtesy of Oceans Real Estate: office@oceanshawaii.com.
Based on information from the Multiple Listing Service of HiCentral MLS, Ltd. Listings last updated on 2024-02-29T03:58:44.653. Information is deemed reliable but not guaranteed. Copyright: 2024 by HiCentral MLS, Ltd.


© 2024 HiCentral MLS, Ltd. All rights reserved.
Some of the active listings on this site may be listed by other REALTORS®. If you are interested in those active listings, our company may represent you as the buyer's agent. If the active listing you are interested in is our company's active listing, you may speak to one of our agents regarding your options for representation.

IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Hawaii Dream Homes.

Licensed in the State of Hawaii, USA.
 
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