I love properties that have potential. Especially when the potential involves the possibility of creating a CPR. Consider 2314 Waiomao Road, #B, listed by Diane Almadova with Hawaii Life (MLS #202002435) Currently, there are two existing homes on the property. The zoning is R-5. The land area is over 22,000 square feet. This property seems ripe for development. Though there are never any guarantees, based on the land area, it seems feasible that a purchaser could buy the existing property, CPR it, live in one of the units and sell the other, or resale both. I’m by no means an expert when it comes to developing property, though I have successfully developed a two-unit CPR. With the help of a good attorney and some upfront fees, and a lot of patience, it was a worthwhile endeavor. Profitable, too. If I can do it, so can you.
The Waiomao property is getting attention. A lot of attention. Buyers are savvy, and they see the potential. With the sizable lot, it’s possible to tear down the two existing structures and build a brand new home. Or, just rehab the existing two houses. Or, if you like to speculate like me, consider a CPR. Just be sure to hire professional help and to do your research!