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  • MLS® #: 381475
  • 1987 Olu Dr

  • Wailuku, Hawaii 96737-7727
  • $795,000   Fee Simple
  • Monthly Maintenance Fees $0
  • 6490 SQ. Feet, 0.15 Acres
  • Vacant Land
  • Listed by: Sp Larner

THIS LAND SALE INCLUDES THE ADJACENT LAND PARCEL AT 158 Markett Street consisting of 6490 square feet / .149 acres. The POSSIBILITIES ARE ENDLESS. MEET WITH OUR LAND PLANNER AND LANDSCAPE ARCHITECT TO DISCUSS THESE GREAT POTENTIALS. This parcel is rare because it offers rear access through the alley which allows on-site parking. There is street parking on adjacent streets as well. Between 1 and 2 blocks is public off street parking on both sides of the street. Commercial or multi-family use, on the most prestigious street in downtown Wailuku. Right in the heart of the county redevelopment zone. Be inspired by attending a Waiuku Community Meeting which is one example of the tight knit flavor of the local environment. Gather with people you never met before at the quaint coffee shops. Browse through the quaint shops with items of yesteryear you will remember and sold at sensible prices. This property is in the rapidly growing central part of Maui. It is close to federal, state and county buildings, schools, shopping, services, church, hospital, doctors, groceries and eating estabiishments. The old and well known Iao theatre is located here. ALL DIMENSIONS ARE APPROXIMATE: TAX INFORMATION: 2018 assessment: $99,700 Monthly Taxes: $60.25.month 2. On the 158 Market Street property, the setback requirements are as follows: 1 to 2 stories No setback requirements 3 stories 10 feet 4 stories 20 feet 3. On 1987 Olu Drive, the setback requirements are: 1 to 2 stories 6 feet 3 stories 10 feet 4 stories 20 feet Parking may be on the first floor level. Parking in the back can remain. Contact listing agent for potential building and land use possiblitities: CHARM AND ROMANCE COME ALIVE WITH THE 4 STORY ZONING POTENTIALS. ENJOY THE SCENIC VIEW FROM THE POTENTIAL 3RD AND 4TH FLOOR PENTHOUSE WITH A SPIRAL STAIRCASE. IDEAL FOR A LIVE/WORK OCCUPANCY BY A PROFESSIONAL AND OFFICE AND RETAIL SPACE BELOW. Parking may be on the first floor level and parking in the back may remain. Contact listing agent for potential building and land use possibilities CAPITALIZE ON THE WAILUKU CIVIC CENTER PROJECT POTENTIALS: It may be a strong, economic driver for the area. 1. A 438 stall parking structure at $.50 per hour or a $25 a month permit. 2. 7,510 square foot festival plaza and 5,500 square foot covered lanai. 3. Community gathering space designed for outdoor dining, performances, food trucks and a relaxed atmosphere. 4. Consideration in raising $435,000 in leases, rentals and saved rent from the county offices. 5. Considering raising Wailuku Town's current four-story height to a six-story height limit. 6. Three blocks of upgraded water and sewer lines, new storm drains, underground power and utilities, and new sidewalks and road surface at an expense of $9.7 million. 7. A ground-level plaza space designed for community festivals and cultural celebrations, and rentable for public events. 8. 1,000 square feet on the ground floor interior for cultural and historic exhibit space. 9. A third-floor rentalble community pavilion designed for events for local families and organizations. It has a 2,500 square foot open air event deck. 10. A high tech, 150-seat public hearing room and space for community groups in the evening. 11. Ground floor retail space. 12. County of Maui office space. 13. Shared access road/promenade off Market Street 14. Majority of landowners have redevelopment plans

Essential Information

  • MLS® #381475
  • Price$795,000  Fee Simple
  • Square Footage6,490
  • Acres0.15
  • TypeVacant Land
  • Sub-TypeVacant Land
  • StatusActive

Community Information

  • Address1987 Olu Dr
  • AreaWailuku
  • CityWailuku
  • StateHawaii
  • Zip Code96737-7727

Amenities

  • ViewOther
  • WaterfrontNone

Additional Information

  • Date ListedJanuary 23rd, 2019
  • Days on Market27

Public Records Information

Sales History

  • 04/07/2011  $ 140,000
  • 01/30/2008  $ 0
  • 07/18/2007  $ 0
  • 06/28/2004  $ 0
  • 10/13/2003  $ 0
  • 01/29/2001  $ 26,160
  • 01/01/1900  $ 0

County Assessed Value

  • 2018   $ 99,700 
  • 2017   $ 74,300 
  • 2016   $ 38,000 
  • 2015   $ 29,600 
  • 2014   $ 32,900 
  • 2013   $ 38,800 
  • 2012   $ 43,200 
  • 2011   $ 69,100 
  • 2010   $ 70,600 
  • 2009   $ 70,600 
County Tax Information

Property Location

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Listings provided courtesy of the REALTORS® Association of Maui.

This information is believed to be accurate. It has been provided by sources other than the Realtors Assoc. of Maui and should not be relied upon without independent verification. You should conduct your own investigation and consult with appropriate professionals to determine the accuracy of the information provided and to answer any questions concerning the property and structures located thereon. Featured properties may or may not be listed by the office/agent presenting this brochure. Copyright, 1995-2015, REALTORS® Association of Maui, Inc. All Rights Reserved.