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SOLD
MLS: 298262
 
Asking Price: $449,000 Fee Simple
Sold Price: $421,500
Sold Date: 03/23/2017
Type: Multi-Family
District: South Hilo
Street: 257 Ululani St
Neighborhood: Hilo Town
Beds: 6   Baths: 3
Living Area: 2,592 SF
Style: 3 Units
Land Area: 8,424 SF
Parking: Street
Days on Market: 2815
(The Price of the property was lowered by $16,000 on 12/02/2016)
Year Built: 1921
Zoning: CDH
Roads: County,Paved
Property Taxes: $2,860
Assessed Value: $296,300
Assessed Ratio: 151.54%
Listing Courtesy: Coldwell Banker Day-Lum Properties
Terms Acceptable: 1031 Exchange,Cash,Conventional
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257 Ululani Street - Multi family property (3 units)

An investment opportunity beckons! This downtown Hilo multi unit property is conveniently located in close proximity to shopping, banking, restaurants, the Hilo Farmers Market, and historic downtown Hilo. These 3 plantation style cottages were updated in 1997 with updates to the plumbing and electrical. Recent updates to some of the units include fresh coats of paint and flooring.

These charming cottages each have 2 bedrooms and a bath with a bonus room which could be a den or office. All of the units are very identical in layout with a cozy dining area and living room. There is a front porch which will be a great place for relaxing.

The property is zoned CDH (Downtown Hilo Commercial). This provides you a multitude of opportunities. Some of the long list of possible permitted uses include: Adult day care homes; Art Galleries; Business Services; Home occupations, as permitted under section 25-4-13; Offices: Photography and artist studios; Bed and breakfast establishments, as permitted under section 25-4-7. Please check with the Planning Department for more information.

The cottages sit on a nicely manicured property with tropical foliage. Lots of street parking available. Great location with great income potential.


 
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