2118 Citron St Honolulu, HI 96826

Property Details for 2118 Citron St

Year built

1955

Property size

3,599 SF

Property type

Commercial real estate

APN

1-2-7-007-050-0000

Description

This exceptional Honolulu property at 2118 Citron St presents a compelling redevelopment opportunity. Situated on a 12,000 square foot lot in Honolulu County, zip code 96826, this property is less than a mile from both Waikiki and UH Manoa. Currently improved with a 3,599 square foot, 5-unit apartment building (100% occupancy), built in 1955, the property offers significant upside. The existing structures consist of five two-bedroom units and one tear-down. The A-2 Medium Density Apartment zoning allows for substantial development potential. Detailed due diligence is included, encompassing an Environmental Report, Geotechnical Report with boring logs and infiltration tests, a TOPO survey, and conceptual plans with A-sheets and a preliminary foundation design. Development options include the possibility of up to 60 units and 48,000 square feet of floor area under Bill 7, or utilizing standard A-2 zoning for up to 16,080 square feet, leveraging the city's newest parking exemptions for multi-family developments. Importantly, the property's location outside a HI School Impact District results in significant savings on DOE Impact Fees, potentially exceeding $230,000. The asking price is $3,349,000. This is a 1031 exchange eligible property. Prospective buyers are responsible for conducting their own due diligence and verifying all information with relevant authorities. The property includes 5 parking spaces.

Location Insight

City

Honolulu

County

Honolulu

State

Hawaii

Longitude

-157.829317

Latitude

21.2921261