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48 N School Street

Honolulu, HI 96817
  • $3,000,000
  • STATUS: Active
  • ON SITE: 9 Days
  • MLS #: 202129420
UPDATED: 20 min ago
$3,000,000
  • 0
    BEDS
  • 0.18
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1955
County:
Area:

School Ratings & Info

Description

This A-1 zoned property currently has three buildings: a 5 bed/2 bath house with basement, and two 4-unit walk-up apartments with one bed/one bath units, all separately metered, 13 parking stalls, and a coin operated laundry area. BILL 7 REDEVELOPMENT OPPORTUNITY:The purpose of the City and County of Honolulus Bill 7 is to establish a temporary program to accelerate the construction of affordable rental housing in the apartment and business mixed use zoning districts by relaxing certain zoning and building code standards, and offering certain financial incentives.The seller contracted with ahl architects to examine the feasibility for Bill 7 application to this property. ahl architects determined that this plot would qualify under Bill 7 and would allow for the development of a 40 to 56 unit apartment building with maximum use of the floor to area ratio. Due to its location off the H-1 freeway, with convenient access to downtown Honolulu and all areas of the island, this is an ideal spot for redevelopment under Bill 7.Learn more about the redevelopment and the property's current condition at our commercial properties page.

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© 2021 HiCentral MLS, Ltd. All rights reserved.
Some of the active listings on this site may be listed by other REALTORS®. If you are interested in those active listings, our company may represent you as the buyer's agent. If the active listing you are interested in is our company's active listing, you may speak to one of our agents regarding your options for representation.

IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Weaver Hawaii | Keller Williams Honolulu.

Licensed in the State of Hawaii, USA.
www.weaverhawaii.com/homes/123486815
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48 N School Street Honolulu, HI 96817

  • Price: $3,000,000
  • Status: Active
  • On Site: 9 Days
  • Updated: 20 min ago
  • MLS #: 202129420
0
Beds
0
Baths
0
½ Baths
0.18
Acres
1955
Built
Neighborhood:
Nuuanu-Lower
County:
Oahu
Area:
Metro
Property Description
This A-1 zoned property currently has three buildings: a 5 bed/2 bath house with basement, and two 4-unit walk-up apartments with one bed/one bath units, all separately metered, 13 parking stalls, and a coin operated laundry area. BILL 7 REDEVELOPMENT OPPORTUNITY:The purpose of the City and County of Honolulus Bill 7 is to establish a temporary program to accelerate the construction of affordable rental housing in the apartment and business mixed use zoning districts by relaxing certain zoning and building code standards, and offering certain financial incentives.The seller contracted with ahl architects to examine the feasibility for Bill 7 application to this property. ahl architects determined that this plot would qualify under Bill 7 and would allow for the development of a 40 to 56 unit apartment building with maximum use of the floor to area ratio. Due to its location off the H-1 freeway, with convenient access to downtown Honolulu and all areas of the island, this is an ideal spot for redevelopment under Bill 7.Learn more about the redevelopment and the property's current condition at our commercial properties page.
Exterior Features

Construction Materials OtherWood Frame Location Corner Lot Description Clear Other Parking None Parking Assigned Parking Total 13 Property Frontage Other Roof Other Stories Three Topography Level View CityGardenMountain

Interior Features

Laundry Coin

Property Features

1 Bed Units 8 2 Bed Units 0 3 Or More Bed Units 1 Amenities None Annual Expenses 33880.00 Assessed Value Improvements 339300.00 Assessed Value Land 1285700.00 Assessed Value Total 1625000.00 Building Type ApartmentsMulti Dwellings Disclosures See Remarks Documents Lease DocumentsSurveyTitle Search Easements Other Expenses Include InsuranceProperty Tax Flood Zone Zone X Foreclosure YN No Land Recorded Regular System Land Tenure Fs - Fee Simple Listing Financing CashGovt Guaranteed LoanOpenOther Management Company Hawaii Sands Realty Net Operating Income 130320.10 Other Income 217.00 Possession At Closing Property Condition Average Set Backs Of Record Sewer Connected Special Sale Conditions None Studio Units 0 Tax Amount 522.33 Tax Paid By Seller Yes Tax Year 2020 Tenant Pays ElectricityGas Total Actual Rent 13466.00 Total Income 164200.40 Utilities Available Gas Utilities Meters ElectricWater Zoning 11 - A-1 Low Density Apartment

Listings provided courtesy of Hawaii Sands Realty.
Based on information from the Multiple Listing Service of HiCentral MLS, Ltd. Listings last updated on 2021-12-02T00:58:46.277. Information is deemed reliable but not guaranteed. Copyright: 2021 by HiCentral MLS, Ltd.


© 2021 HiCentral MLS, Ltd. All rights reserved.
Some of the active listings on this site may be listed by other REALTORS®. If you are interested in those active listings, our company may represent you as the buyer's agent. If the active listing you are interested in is our company's active listing, you may speak to one of our agents regarding your options for representation.

IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Weaver Hawaii | Keller Williams Honolulu.

Licensed in the State of Hawaii, USA.
 
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