78-7318 KUAKINI HWY , KAILUA-KONA HI 96740 US

Fannie Mae Property adjacent to, and just south of, Higashihara Park. Located off Kuakini Hwy at an approximate 1,200 ft. elevation. 2.32-acre abandoned farm on Bishop Estate LEASEHOLD land. Charming Wooded Location with 1,064 sqft. Structure and Nice Ocean View. <br><br>Structure is Permitted as ...

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78-7318 KUAKINI HWY
KAILUA-KONA HI 96740 US

1.00 Bath (1 Full Bath), 384 sqft

#610126

Courtesy of: Suzanne Patterson, Kona Resort Properties

$41,000

78-7318 KUAKINI HWY Fannie Mae Property adjacent to, and just south of, Higashihara Park. Located off Kuakini Hwy at an approximate 1,200 ft. elevation. 2.32-acre abandoned farm on Bishop Estate LEASEHOLD land. Charming Wooded Location with 1,064 sqft. Structure and Nice Ocean View.

Structure is Permitted as a 2-car Garage with Storage and Bathroom. Configueration includes a Gazebo, a 200 sqft. outdoor kitchen/lanai, a 384 sqft. storage room with bath, and a 480 sqft. garage/workshop. Open permits from 1996 exist for a 2-bedroom, 2-bath home below that was never built. County Water, standard electrical, and an irrigation system exist in a state of disrepair. Cash offers only.

* This is a Fannie Mae Home Path property. REO ID#: L1700F7.
* See addenda to this listing (link at upper left) and HomePath.com for details.
* Bishop Estate Lease 25,216 is also attached as an addendum to this listing.
* Annual leasehold rent prior to non-compliance was $3,150 + Gross Excise Tax.

The current lease expires 12/31/2033. It is out of compliance and subject to cancellation. New owners will have to file a farm plan, plant and bring the farm into compliance, and then may possibly obtain a new 35-year lease at Bishop Estate's option. Buyers are urged to thoroughly explore the terms and conditions of the lease transfer and assignment process with the lessors. The transfer process takes about 8 months. Note that this is an agricultural lease. Lessees are expected to meet production and income levels that are consistent with current commodity averages. The lease will terminate at Bishop Estate's option if these production expectations are not met. Bishop Estate retains right of first refusal should parcel be sold and assesses a consideration fee of 50% of the land value.

Located South of Puuloa, adjacent to Higashihara Park. Exit off Kuakini Hwy (11) to frontage road between mile Marker 114/115. The park is located to the right, the parcel to the left behind gate.

  • Facts
  • Built in: 1998
  • Lot Size: 2.32 acre
  • Property Type: Residential
  • Property Sub-type: Other
  • Features
  • Full Bathrooms: 1
  • Cooling System: None
  • Floor Covering: Concrete
  • Parking Type: Covered, Garage - Attached
  • Roof Type: Unknown
  • View Type: Ocean
  • Heating Fuels: None
Listing Changed: 4/14/2018 12:26:00 PM GMT
Source Updated Date: 4/19/2018 3:16:46 AM GMT

Courtesy of: Suzanne Patterson, Kona Resort Properties

Listing Source - ListHub

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