3.98 Acres in Honolulu for Only $450,000

I recently re-listed 2733 La’i Road in the back of Palolo Valley for a steal at $450,000.

Where else can you find this much space and privacy in Honolulu for such a price? A 6,000 sq. ft. lot on neighboring Wilhelmina Rise recently sold for $600,000 or ($100/sq. ft.)!

This is like country living in town! Panoramic Ocean and Mountain views abound this pristine 3.98 acre parcel on very desirable La’i Road in the very/very back of Palolo Valley. This gated community estate site has unlimited opportunity to build the home of your dreams in an area rarely available. This lot is located 10 minutes from downtown, 5 minutes from Kahala, beaches and schools. Zoned P-1 with an allowable 5000 square foot home.

Some might ask what P-1 land is? It falls under the state’s Conservation District.  Most of Tantalus and Roundtop is zoned P-1. When this lot was originally listed in late 2007, it was on market for $925,000. At the time, this was based on the following sale of 3852 Puu Kakea Place that sold for $1,150,000 or $12.78/sq. ft.  We’re now priced at a bargain $2.60/sq. ft.! Where else can you find something like this in East Honolulu?

Comparative Market Analysis

Tax Map Key: 1-3-4-021-002-0000
Address: 2733 La I Rd, Palolo
Land Area: 173,368 sqft
List Price: $450,000
Cost/SqFt: $2.60

Tax Map Key: 1-2-5-018-032-0000
Address: 3852 Puu Kakea Pl, Tantalus
Land Area: 90,008 sqft
List Price: $1,150,000
Cost/SqFt: $12.78
Sold Date: 8/27/2007