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Tuesday, September 18, 2012

A developer’s dream in Kahala

On Friday, the open house pick of the week was a cluster of penthouses being sold by the same owner. I’m wondering if that owner wants to turn around and buy a lot to have eight homes—it’s a lucky number, after all. (Click here for details.)

This lot in Kahala is 41,747 square feet with two street frontages: 22nd Avenue and Puu Panini Avenue This property is almost an acre, which is the size of a football field without the end zones. If it looks familiar to you old timers, you may remember it as a pikake farm.

The homes are relatively small: Each one has two or three bedrooms, one bathroom and an average size of about 820 square feet. Three are currently rented, and one is owner occupied.

Since the homes are small, that leaves quite a bit of yard space. The structures are only in fair condition, though, so they’re being sold “as is” with the suggestion to rebuild in a manner of ways including a cluster or CPR, adult residential care home, group living facility, church day care or meeting facility. There’s enough room to give you lots of development options. In fact, some of the houses aren’t really in any condition to have value, but the appropriate documents were pulled to ensure they were on record, so you can rebuild on what is already there if you choose.

Money talk: $4.9 million, fee simple
Contact: William Ahana, East Oahu Realty, 808-225-0466, william.ahana@eastoahu.com

Posted on Tuesday, September 18, 2012 in Permalink

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About This Page

Honolulu Real Estate focuses on the Hawaii housing market, condos and homes for sale, Hawaii rentals and general news about real estate in Hawaii. It also includes stories on apartment living, home decor and profiles.
 


Melissa Chang graduated from the University of Hawaii with a degree in journalism and has been blogging since 2007, mostly on food and travel. She works primarily in social media, so you can find her online @Melissa808 on Twitter and Instagram.


 


Jaymes Song is a real estate agent at Prudential Advantage Realty in Kahala. Jaymes is in the top 7 percent of Prudential agents nationwide. Previously, Jaymes was at The Orange County Register, Honolulu Star-Bulletin and rose through the ranks to overseeing news and operations for AP in Hawaii and the Pacific Rim. Jaymes lives in the Portlock area and loves his real full-time job of being dad to two curious kids.


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