Kona, Hawaii Real Estate
Ryan Milligan
(808) 640-0072(808) 640-0072

75-5730 Alahou St, Unit: 16, KAILUA-KONA, HI 96740 (MLS # 632588)

Save to Favorites
Print
Share
PRICE $2,650,000
BEDS 16
BATHS 16 full
HOME SIZE 7,240 sq ft
LOT SIZE 16,062 sqft

16 one bedroom/one bath units with ample parking. Easy walk to downtown Kailua-Kona. Views of Kailua Bay may be seen from many of the units. All units have closed lanais, adding to the total square footage. All units are separately metered for electric and are tenants responsibility.
* Property located in a designated Opportunity Zone (Qualified Opportunity Property, QOP) see:https://www.irs.gov/newsroom/opportunity-zones-frequently-asked-questions
* To qualify for the seven year (5%) step up in basis, taxpayers should reinvest deferred gain into a QOP before 12/31/19
* Expectation is to redevelop the existing property, in order to qualify for the Opportunity Zone tax incentives. This is not
ground-up development. No formal development approvals required; only building permits
* Redevelopment allows project to be substantially improved within the mandated 30-month period.
* No Rent Control (45-day eviction process) *In place Cash Flow
* Shortage of work force housing in Kona, central location and proximity to jobs * Market vacancy rate 2%
* Replacement costs well over $300,000/door
* Addition of in-suite washer/dryer, air conditioning and PV Solar, should increase market rent to $1,600 per unit
* Unoccupied storage space - potential to generate additional income
* Property to be put on Public Sewer system in next year with assumable bond at $5,450 per year.
* Please consult with your trusted real estate agent or adviser, tax and other professionals. All information deemed reliable but not guaranteed.

DAYS ON MARKET 14 LAST UPDATED 10/10/2019
TRACT Lono-Kona Subdiv YEAR BUILT 1972
COMMUNITY Lono Kona Apartments STATUS Active
PROPERTY TYPE(S) Multi-Family

SCHOOLS
School District North Kona


ADDITIONAL DETAILS
APPLIANCES Disposal, Microwave, Range/Oven, Refrigerator
DESIGN Double Wall, Wood Frame
FENCE/WALL Chain Link, Rock/Stone
FLOOR COVERING Carpet, Laminate
FRONTAGE Road/Street
LAND TENURE Fee Simple
LAVA ZONE 4
LOT DESCRIPTION - LAND Clear
POWER Overhead
PROJECT Lono Kona Apartments
PROPERTY TYPE Multi-Family
ROADS Paved
STATUS Active
TELEPHONE AVAILABILITY Cable
TERMS ACCEPTABLE Agreement of Sale
TOPOGRAPHY Gentle Slope
TV AVAILABILITY Cable
VEHICLE STORAGE/PARKING Assigned
VIEW Ocean, Sunset
WASHER/DRYER Coin
WASTEWATER Septic, Sewer-Not Connected
WATER County, Meter Installed, Municipal

ZESTIMATE
75-5730 Alahou St, Unit: 16, KAILUA-KONA, HI

RENT ZESTIMATE
$ / mo.  75-5730 Alahou St, Unit: 16, KAILUA-KONA, HI

SATELLITE VIEW



 
CONTACT US ABOUT 75-5730 ALAHOU ST, UNIT: 16
 / 
We respect your online privacy and will never spam you. By submitting this form with your telephone number you are consenting for Ryan Milligan to contact you even if your name is on a Federal or State "Do not call List".

Listed with Robert Vafaie dba Maui Property
© 2019 MLS Hawaii, Inc. All rights reserved.
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.