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MLS: 603139 (Active - For Sale)
 
Asking Price: $2,250,000 Fee Simple
Type: Land
District: North Kona
Street: 74-5040 Ane Keohokalole Hwy
Neighborhood: Honokohau 2nd
Style: Vacant
Land Area: 12.28 Acres
Days on Market: 2654
(The Price of the property was lowered by $1,850,000 on 01/05/2024)
Year Built: 0
Zoning: RS-7.5
Roads: County,Paved,State
Land Recorded: Regular
Property Taxes: $7,799,.97
Assessed Value: $702,700
Assessed Ratio: 320.19%
Listing Courtesy: Joel K. LaPinta
Terms Acceptable: 1031 Exchange,Cash,Construction Loan,Conventional,PMM
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All Land For Sale in Honokohau 2nd

*PRICE REDUCTION* Zoned with entitlements for 70 residential lots.

• Zoned for immediate development of single-family residential lots subject to civil plan approval. POLITICAL APPROVAL BY THE GOVERNMENT HAS BEEN OBTAINED.

• The County of Hawaii has confirmed that $458,137.97 of costs paid by the owner can be applied to the fair share costs for road and traffic improvements as specified in Condition J(5) of Change of Zone Ordinance No. 99-61 (REZ 914). The credit runs with the land.

• The owner has paid $116,550 in water commitment fees, which will be credited toward the facilities charges to provide water for the development of the property.

• Zoning: Single-family residential minimum building site area 7,500 sq. ft. (RS-7.5) per Ordinance 99-61 approved May 13, 1999, and took effect subject to specific conditions on August 1, 2016. The condition can be met by obtaining Final Subdivision Approval for the first increment of the subdivision. For example, the first increment may be 10 to 20 homesite lots, with future increments planned on the remaining land area.

Plan Unit Development (PUD): PUD Permit No. 61 dated September 15, 1999. Subject to specific conditions, the permit took effect on August 1, 2016. The PUD permit allows minimum building site areas of 4,000 square feet, among other variances from the County’s Subdivision Code.

Water (71 Equivalent Units): The Department of Water Supply (DWS) of the County of Hawaii granted a commitment to supply 28,400 gallons per day or seventy-one (71) units of water at an average of 400 gallons per day (400gpd with 600gpd maximum as an equivalent unit). A water commitment deposit of $10,650 is required annually to maintain the commitment of the 71 EUs. The cumulative annual payments, currently $116,500, will be credited towards the final facilities charge for the development.

Wastewater (Sanitary Sewer): The property is within the service area of Hawaii County's wastewater treatment system.


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