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«MLS# 382951 - REO
2455 S KIHEI Rd
»
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This is the former KAMAOLE GRAND 217 unit luxury condo development and near shovel ready. $6,200,000 has been spent on infrastructure including sewers, fire protection, three huge water meters, grading(needs to be regraded)and preliminary drawings but the current infrastructure is for the old 78 unit Aloha Village condominiums and incompatible with the current 217 unit plan. SMA is in place and ACTIVE. The North-South Collector road is in and finished. Final construction drawings are needed. This is a bank owned property. The property is zoned Hotel but designated multi-family in the Community Plan and that is cast in concrete. Short term rentals are NOT possible. All toll, there is not less than $15,000,000 spent on this property. There is also a water well for irrigation. Ingress/egress is from the North South Collector road. Right hand turn only onto Kihei road when exiting the property. Gentle slope to the top. Ocean views half way up and all the way from the top floors. Hundreds of thousands of dollars have been spent on architectural, planning, permitting, archeological, interest on loans for the past 11 years. If you have a developer who is capable of a project of this magnitude the pro formas will show the profit potential for this incredible development. The DROP BOX link is comprehensive. POF required and a letter of financial capability essential from the bank or financial institution, REIT, pension fund, insurance company funding the development. The price of the condos can be whatever the market will bear.
Property Stats
Price:$14,900,000 Fee Simple
List Date: May 20, 2019 (DOM:202)
Type: Vacant Land
Status: PENDING - CONT. TO SHOW
District: Kihei 
Address: 2455 S KIHEI Rd
Land Area: 8.5 Acres
View: Ocean 
WaterFront: Across Street from Ocean 
REO: Yes 
Maui County Tax Info
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«MLS# 382951 - REO
2455 S KIHEI Rd
»
This property is listed by Royal Realty LLC
Bruce E McDonald R(S) may represent you as Buyer's Representative.
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, 1995-2019, REALTORS® Association of Maui, Inc. All Rights Reserved.


   

 

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