Fannie Mae Property adjacent to, and just south of, Higashihara Park. Located off Kuakini Hwy at an approximate 1,200 ft. elevation. 2.32-acre abandoned farm on Bishop Estate LEASEHOLD land. Charming Wooded Location with 1,064 sqft. Structure and Nice Ocean View.

Structure is Permitted as a 2-car Garage with Storage and Bathroom, NOT living area. Configuration includes a Gazebo, a 200 sqft. lanai, a 384 sqft. storage room with bath, and a 480 sqft. carport. Conversion to living area would require permission from lessor and permitting of a minimum 800 sqft. structure. County Water, standard electrical, and an irrigation system exist in a state of disrepair. Cash offers only.

* This is a Fannie Mae Home Path property. REO ID#: L1700F7.
* See addenda to this listing (link at upper left) and HomePath.com for details.
* Bishop Estate Lease 25,216 is also attached as an addendum to this listing.
* Annual leasehold rent prior to non-compliance was $3,150 Gross Excise Tax.

The current lease expires 12/31/2033. It is out of compliance and subject to cancellation. Buyers wishing to assume the lease must provide 2-year\'s financials and file a farm plan to plant at least 1.45 acres bringing the farm into compliance. Buyers are urged to thoroughly explore the terms and conditions of the lease transfer and assignment process with the lessor. The transfer process takes about 8 months. Note that this is an agricultural lease. Lessees are expected to meet production and income levels that are consistent with current commodity averages. The lease will terminate at Bishop Estate\'s option if these production expectations are not met. Bishop Estate retains right of first refusal should parcel be sold and assesses a consideration fee of 50% of the land value.

Located South of Puuloa, adjacent to Higashihara Park. Exit off Kuakini Hwy (11) to frontage road between mile Marker 114/115. The park is located to the right, the parcel to the left.