Aloha - I have a 9400 sqft lot with a two-story home in the Hale Kou neighborhood of Kaneohe where each floor is setup as a 3-bed 1.5-bath with kitchen and living room (not officially, but that's how it's set up). You could live in one floor, rent out the other or rent them both. Each one, fixed up, will rent for about 2700-3000/month.
QR Code Link to This Post
It's a moderate fixer upper, so perfect for someone handy, a contractor, or if you have some extra $ for the work. Roof, some staircase work, flooring, other cosmetics.
Here's the real opportunity. Kaneohe just eased the additional sewer restrictions late June. As the lot is over 7500 sqft and one R-5, you can have a legal duplex and add the 2nd sewer hookup. The property gives you some options:
1) CPR the existing house so that each floor is its own official 3/1.5 living area. Worth about 750-800k each floor once renovated. Live in one floor and rent out or sell the other... or both!
2) Create a bigger CPR, whereby the existing house is itself one parcel and the empty space next to it is the other. Sell off the land or create an attached home which will be the second half of the CPR with its own TMK. Live in one house and rent out the other or sell them both for about 900-950k each!
3) In either combo above, add an ADU (accessory dwelling unit) for even more rental income!
The market in Hawaii is setting new records every month. This is an opportunity to grab a property with multi-family capability and keep for generations.
For photos: http://www.hirephoto.com/546huawaina