PRIME LOT situated in the heart of Honolulu less than a mile between both Waikiki and UH Manoa. So much potential: Bill 7 development, live in one, rent the other/ land bank and build later/ rent out as is—it’s all up to you! Owner has the following dd items: EDR Neighborhood Environmental Report, Geotechnical Report with boring logs and infiltration tests, a TOPO survey and conceptual plans with A-sheets and a prelim foundation design. Existing structures have 5 twos rented and a sixth as a tear-down. **Development options present a variety of potential paths for the creative owner: Bill 07 possibility of up to a maximum of 60 units and 48,000sf of floor area or standard A2 zoning for up to 16,080sf that takes advantage of the city’s newest parking exemptions for multi-family developments in the PUC. Not located in a HI School Impact District, new development save BIG on DOE Impact Fees, which start at close to $3,864 and up per unit (i.e. up to over $230,000 in savings!) in a number of Honolulu neighborhoods. **Buyers to do their own dd and verify all the latest city programs and rules with the appropriate experts and agencies**
Listing courtesy of Commercial Inv. Strategies.
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