1525 Liholiho St, Honolulu, HI 96822

This exceptional 7,800 sq ft land parcel (APN 2-4-20:29) in Honolulu, HI (96822), presents a fully entitled opportunity to develop a 37-unit apartment building. The approved plans include a mix of 20 two-bedroom and 17 studio units, along with 14 parking stalls. Two substantial amenity spaces are designated for a fitness center and a multimedia/entertainment room, catering to residents' needs. Leveraging Honolulu's affordable rental housing program density bonuses, this project offers income-restricted units ideal for families, young professionals, and students. The city offers potential incentives and rebates, including property tax exemptions for units rented to those earning less than 80% of the Area Median Income (AMI), with the option to rent units up to 100% AMI. Situated in the heart of urban Honolulu, this location provides easy access to the Central Business District (CBD), Waikiki, Ala Moana, Kakaako, the H-1 Freeway, University of Hawaii, and Punahou School. The densely populated area, with over 60,000 people within a one-mile radius, ensures high demand for rental units. Convenient public transportation, including bus stops and a nearby Biki station, further enhances the property's appeal. This project offers significant cost and time savings due to the pre-approved plans, addressing the critical shortage of affordable housing in Honolulu. The existing zoning is A-2. The asking price is $2,450,000.