Kitchen and living room with natural light at 4852 Hauaala Rd. (MLS# 233613)
I have met many local property owners who are always in the market for a good investment property. Some define that as a multi-family property with multiple rentals. I have two short sale opportunities on Kauai’s east side that provide such an opportunity.
1) 4852 Hauaala Rd. (MLS# 233613). Located less than a mile from Kealia Beach on the northern end of Kapaa, this property has a 2 bed / 1 bath unit, an adjoining breezeway with laundry facilities, and a 1 bed / 1 bath unit. The backyard has been masterfully tiered by the owner who happens to be a landscape excavator, and one of Kauai’s Finest. Currently the 2 bedroom side rents for $1500 with utilities and the 1 bedroom side $1000 plus utilities. The home is listed at $329,000 and is an active Short Sale with Bank of America. We currently have an active offer with the bank and a backup behind that. The lender has ordered their appraisal so the bank should be letting us know the price they will accept for this cute home so close to the ocean.
4852 Hauaala Rd. (MLS# 233613)
2) 2037 Puu Kaa St. (MLS# 235893). This is an actual two-family dwelling according to the Kauai tax records. There are two separate rentals, both 3 bed / 2 bath with a shared outdoor area and laundry area. The home is situated on a nice corner lot so it has a pretty open feeling to it.Â The upstairs apartment has been freshly painted. The home would benefit from new owners and some TLC. Priced at only $299,000, it is a lot of home for the money. This property is also an active short sale with the Bank of America.
As a specialist in distressed properties on Kauai, I know the status of all the properties in foreclosure or pre-foreclosure. If you have a question, I probably have or can get you a rapid answer.
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