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SOLD
MLS: 202121149
 
Asking Price: $3,300,000 FS - Fee Simple
Sold Price: $2,400,000
Sold Date: 07/01/2022
Type: Residential
District: Metro
Address: 702 Prospect Street, Honolulu, HI
Neighborhood: Punchbowl Area
Beds: 4   Baths: 2
Living Area: 1,364 SF
Style: Detach Single Family,Multiple Dwellings
Land Area: 4,814 SF
View: City,Ocean
Pool:
Parking: 2 Car,Garage,Street
Days on Market: 950
Year Built: 1935
Zoning: 12 - A-2 Medium Density Apartm
Land Recorded: None
Property Taxes: $292
Assessed Value: $1,000,600,.00
Assessed Ratio: 329.8%
Listing Courtesy: Nathalie Mullinix R. U., Inc.
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Special A2 zoned development opportunity. Located contiguous to the corner of Alapai/Prospect Sts, this property is being sold together with 1617 Alapai St, MLS #202121143 for a total of 10,732 sq ft as part of an estate sale. These properties have not been marketed since 1953 and represent an ideal opportunity for redevelopment into higher density residential/apartment use and development under Bill 7. 702 Prospect and 1617 Alapai each contain 2 dwellings with 3 rental units each for a total of 6 rental units. The location is ideally located on the slope of Punchbowl. Buyer to do their own due diligence as to development ability. These properties are a very rare chance to own A2 zoned land in probably the most premier A2 zoned land on Oahu. A beautiful residential area with close proximity to Downtown and skyrocketing land values. Some of the units are on month to month rental agreements significantly below market value. Please do not disturb the occupants.


 
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