614 Wailepo St
Kailua, HI 96734
Land For Sale
·
0.46 AC
Investment Highlights
- Turnkey project with plans available and CPR in-place, allow an investor to purchase the property and begin construction with minimum downtime
- Near proximity to the Kailua business district including numerous restaurants, retail, medical and office amenities
- Kailua is one of the most affluent trade areas in the United States, with avg. household income in the city of Kailua reaching an incredible $142,323
- Over $400,000 in design work and building plans are included with the sale at no expense to an investor
- High-demand for residential housing in Kailua supports a multifamily rental or condominium development
Property Facts
Description
The offering consists of the extremely rare opportunity to acquire the land, building plans, other fees, and application with the City and County for building permits for the Kailua Lofts, a turnkey 42-unit condominium development project in the heart of Kailua. The project has already received the majority of approvals needed to start construction and the condominium map is already in-place. A buyer can pay the few remaining fees, pick up the permits, and start construction! The property’s level site, size, and great location make it an excellent development opportunity. Kailua’s high demand for housing and supply constraints are idea for a developer. In addition, inventory of available residential condominiums for sale is extremely limited in the area. There is currently a flat vacant lot and two existing vacant apartment buildings on the site with 7 units (no electric meters/power currently). Seller will sell the land only in the event a buyer wants to complete a different development and not assume the project fees that have already been paid.
Property Taxes
| Parcel Number | 1-4-3-059-095-0000 | Improvements Assessment | $0 |
| Land Assessment | $3,861,100 | Total Assessment | $3,861,100 |
Property Taxes
