Estimated payment $35,411/month
Highlights
- Wooded Lot
- Lot Has A Rolling Slope
- 3-minute walk to 808 Bounce
- Waiakea High School Rated A
About This Lot
Puainako Heights is a fee simple, residential development opportunity located approximately five miles above Hilo, on the Big Island of Hawaii.
The project is currently zoned for 440 units, in both single- and multi-family configurations. The number of allowed units may be increased to 820 with approval from the County.
The site encompasses approximately 130 usable acres and 57 separate tax parcels.
- State Land Use Designation is Urban
- County Zoning is RS-7.5, with 34 acres zoned RM-4
- 317 water meters are reserved for Puainako Heights through the Department of Water Supply
The property is in foreclosure, and presents a unique opportunity for an experienced real estate developer or long-term investor. Offered at roughly $50,00 per-acre, or $20,000 per-water-unit, the site may be developed as a fee simple neighborhood and/or build-to-rent community. The scarcity of development sites near Hilo, commitment of municipal water service, and proximity to Kona, should preserve and increase the value of Puainako Heights as a long-term asset.
Additionally, RM zoning allows the following uses:
- Single- or multi-family housing
- Adult day care homes
- Boarding facilities, rooming, or lodging houses
- Care homes, with a County Use Permit
- Community Buildings, as permitted in Hawaii County Code Section 25-4-11
- Day care centers, with a County Use Permit
- Group living facilities
- Medical clinics, with a County Use Permit
- Meeting facilities
- Short-term vacation rentals, within a condominium property regime
Due to the Puainako Heights' status as the subject of a foreclosure action, the Court of the Third Circuit requires property-specific disclosures to be made to potential Buyers. Disclosures are available to interested parties.
Listing Agent
RE/MAX Properties Brokerage Phone: 8089603138 License #RS-66535 Listed on: 12/19/2024
Property Details
Property Type
- Land
Est. Annual Taxes
- $4,750
Lot Details
- Property fronts a state road
- Lot Has A Rolling Slope
- Wooded Lot
- Property is zoned RS-7.5
Utilities
- Sewer Not Available
Community Details
- Puainako Heights Subdivision
Listing and Financial Details
- Tax Lot 51
- Assessor Parcel Number 3250460010000
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 12/19/2024 12/19/24 | For Sale | $6,340,000 | +1505.1% | -- |
| 08/13/2023 08/13/23 | Off Market | $395,000 | -- | -- |
| 05/15/2023 05/15/23 | Sold | $395,000 | -7.1% | -- |
| 04/11/2023 04/11/23 | Pending | -- | -- | -- |
| 10/27/2022 10/27/22 | For Sale | $425,000 | +157.6% | -- |
| 03/22/2022 03/22/22 | Off Market | $165,000 | -- | -- |
| 12/22/2021 12/22/21 | Sold | $165,000 | -10.8% | -- |
| 11/08/2021 11/08/21 | Pending | -- | -- | -- |
| 02/23/2021 02/23/21 | For Sale | $185,000 | -- | -- |
Source: Hawaii Information Service (MLS Hawaii)
MLS Number: 716708
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
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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. Data is deemed reliable but is not guaranteed accurate by the MLS.
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