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SOLD
MLS: 202306684 (Foreclosure)
 
Asking Price: $4,999,999 FS - Fee Simple
Sold Price: $5,000,000
Sold Date: 08/31/2023
Type: Land
District: Kailua
Address: 734 & 735 Kihapai Place, Kailua, HI
Neighborhood: Coconut Grove
Land Area: 0.56 Acres
View: City,Mountain,Other
Days on Market: 400
Year Built: 0
Zoning: 12 - A-2 Medium Density Apartm
Land Recorded: Land Court
Property Taxes: $896
Assessed Value: $2,926,000,.00
Assessed Ratio: 170.88%
Listing Courtesy: Standard Management LLC
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The offering consists of the extremely rare opportunity to acquire the fee simple interest in 24,593 square feet of A-2 (medium density apartment) zoned land in Kailua, on the island of Oahu. Included with the property are construction drawings for a 42-unit residential condo development. The property’s level site, size, and great location make it an excellent development opportunity for market rate residential condominiums in a submarket with tremendous demand. This is the last undeveloped A-2 zoned parcel of this size in Kailua and is priced below recent comparable sales making it a great opportunity for a developer. The property consists of 2 lots - TMK 1-4-3-58-65 & 1-4-3-58-66.


 
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