219 Kalihi Street offers an excellent development opportunity for either an owner-user or investor in urban Honolulu. The property consists of six (6) 2-bed/1-bath units and an extra-long 9-stall commercial parking lot. The 2-story walk-up apartment building has been grandfathered as an acceptable non-conforming use within the I-2 zoning. Currently, one of the units is being used an office, with minimal work to convert it back to an apartment unit. Four of the units are currently set up with full kitchens however all units have capabilities for full kitchens, a washer & dryer, and a parking stall.
In 2018, new plumbing and copper pipes were installed at the property and a new roof was installed in 2006.
Centrally located in Kalihi within an Opportunity Zone, the property is a prime candidate to increase value by developing a new warehouse on (i) the entire parcel, or (ii) the parking lot portion and leasing up the existing apartment building at market rents.
Please call listing brokers for an appointment. DO NOT DISTURB TENANTS.
INVESTMENT HIGHLIGHTS
- Prime Development Opportunity
- Investor or Owner-User Opportunity
- Rarely Available Fee Simple I-2 Zoned Parcel
- Located within an Opportunity Zone with Possible Tax Savings
- Highly Visible Corner Location on Heavily Traveled Road
- Scarcity of Yard Space and Parking On-site