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SOLD
MLS: 641485
 
Asking Price: $2,790,000 Fee Simple
Sold Price: $2,475,000
Sold Date: 02/07/2022
Type: Multi-Family
District: Waimea
Street: 4517 Kala Rd
Neighborhood: Kekaha House Lots
Beds: 29   Baths: 15 Full / 1 Half
Living Area: 6,930 SF
Style: 4+ Units
Land Area: 0.68 Acres
Parking: Assigned
Days on Market: 1350
(The Price of the property was lowered by $100,000 on 02/19/2021)
Year Built: 1940
Zoning: O
Roads: County,Major Thoroughfare,Paved
Property Taxes: $13,189
Assessed Value: $1,339,000
Assessed Ratio: 208.36%
Listing Courtesy: Pacific Real Estate Services, LLC
Terms Acceptable: 1031 Exchange,Assumption,Agreement of Sale,Cash,Construction Loan,Conventional,Developer Package,Open,Other (remarks)
Google Map   County Records
 
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https://www.akamaihawaiiproperties.com/for-sale-hale-takas

Irreplaceable Investment Property at the Beach! Located on the west side of ‘The Garden Island’, Kauai. The property is adjacent to the ocean and can never be replicated due to today’s setbacks and development regulations.

Close access to Waimea Canyon / Kokee Park and the Longest White Sand Beach in Hawaii. Spectacular sunsets year round. Employment centers of Pacific Missile Range Facility, Kauai Veteran’s Memorial Hospital, and other Kekaha/Waimea businesses are less than three miles away.

All units have been recently upgraded. Exterior was repainted within the last two years. Exact finishes and unit layout differ slightly from unit to unit. The 3 buildings consist of an SFR with office/storage and garages below, a duplex, and a 10-unit (5 up and 5 down). The SFR is closest to the ocean and would be ideal for owner occupancy. Most units have ocean views.

Recent Covid-19 economic factors have created a few vacancies. Otherwise, the property is generally full. New demand for housing on Kauai with growing needs from local employment centers has this property poised for upside.

The property’s wastewater system will require immediate upgrading and the price has been adjusted accordingly.

Property is not a licensed or permitted short term rental.

Please do not disturb tenants and all property access to be made by appointment only.


 
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