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Lisa Howard

Realtor (S)SRS, RS-72431

  • Cell 808-345-0203
Questions?

1503 Piihana Rd, Wailuku, Hawaii – $315,000

  • $315k Price
  • 23,168 Sqft
  • .53 Acres
  • 306 DOM
  • $315k Price
  • 23,168 Sqft
  • .53 Acres
  • 306 DOM

1503 Piihana Rd

LISTOR IS RELATED TO OWNER. The highest and best use for this property is to apply for a 201H-38 ordinance and build an affordable housing apartment building. This is a state of Hawaii ordinance which allows a property to be re-zoned to A-2 and build up 2-3 stories with high density. This 23,000 sf property should allow approximately 25 workforce housing apartments. Under the 201H program the development is exempt from real property tax and general excise tax. Being affordable the county will fast track the project. The most amazing thing about the 201H propgram is as follows: (3) (A). The legislative body shall approve with modification, or disapprove the project by resolution within 45 days after the corporation has submitted the preliminary plans and specifications for the project to the legislative body. (4). The land use commission shall approve, approve with modification, or disapprove a boundary change within 45 days after the corporation has submitted a petition to the commission as provided in section 205-4. IF, ON THE 46TH DAY, THE PETITION IS NOT DISAPPROVED, IT SHALL BE DEEMED APPROVED BY THE COMMISSION. That said, an environmental impact study, traffic study, et al will have to be done, but it would be worth it as to buy a property zoned A-2 to build this many units would most likely be well over $1,000,000. The property is currently zoned Project District which has conditions that need to be met prior to getting a building permit. The 201H rezones the property to A-2 and takes the property out of the Project District and the conditions imposed upon it; or, just re-zone to R-2 and do up to 4 units. I am willing to joint venture with an experienced developer who will need to qualify for the 201H requirements. I will need 1/3rd downpayment and all fees to take the property through the 201H process. With those funds I will pay off the $100,000 first mortgage. Lots 56 & 57 can draw water from the Iao Stream. The deed will grant the owners of TMK 18 directly behind lots 56 and 57 the right to connect a water lateral should the owner of lot 57 decide to draw water from the stream. Read all the uses allowed in the Project District. Developer of Wailuku Plantation is complying with the Conditions for owners to obtain building permits. Read the letter from Attorney Jason McFarlan. Project District allows care facilities, business applications, boarding houses, churches, apartments, multi-family. Country in the heart of Wailuku town. All contracts to have an AS IS Addendum. Water meter is in the ground. Sewer easement is complete and is recorded. Property has been surveyed. Electric is on Piihana rd. Mature shade trees on lot 57. See the remarks for lot 56. Fire hydrant being installed directly across the street.

Essential Information

  • MLS® #383700
  • Price$315,000
  • Square Footage23,168
  • Acres0.53
  • TypeVacant Land
  • Sub-TypeVacant Land
  • Land TenureFee Simple
  • StatusActive

Community Information

  • Address1503 Piihana Rd
  • AreaWailuku
  • SubdivisionNONE
  • CityWailuku
  • StateHawaii
  • Zip Code96793

Amenities

  • ViewMountain/Ocean
  • WaterfrontNone

Additional Information

  • Date ListedJuly 25th, 2019
  • Days on Market306

Listing Details

  • OfficeeXp Realty
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Price Change History for 1503 Piihana Rd, Wailuku, Hawaii (MLS® #383700)

Date Details Change
Price Reduced from $345,000 to $315,000 $30,000 (8.70%)
Price Increased from $315,000 to $345,000 $30,000 (9.52%)
Price Reduced from $345,000 to $315,000 $30,000 (8.70%)
Price Reduced from $365,000 to $345,000 $20,000 (5.48%)
Price Reduced from $395,000 to $365,000 $30,000 (7.59%)

Fee Simple

eXp Realty.

This information is believed to be accurate.

It has been provided by sources other than the Realtors Assoc. of Maui and should not be relied upon without independent verification. You should conduct your own investigation and consult with appropriate professionals to determine the accuracy of the information provided and to answer any questions concerning the property and structures located thereon.

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