28-3296 BEACH ROAD PEPEEKEO HI 96783

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For Sale: bad Deal

Asking Price

$1,795,000

$542/sf

$898k/ac

Smart Price

$1,192,364

$360/sf

$596k/ac

Assessed Value

$970,100

$293/sf

$485k/ac

VACATION RENTAL PERMIT ON THE OCEAN! A perfect retreat home and property to hide out and be self-sufficient while surrounded by gorgeous rolling green pastures running to the blue sparkling sea. This property may be the only agriculturally zoned vacation rental on the coast with a renewable and transferable legal permit to operate a short-term, 3/3.5 vacation rental as a prior non-conforming use. Oceanfront and located on the pristine, low-density Hamakua Coast of the Big Island, this estate is on the private, gated and desirable Beach Rd. approx. 10 miles from historic Hilo Bay. The portion of land where the home is located spans 1.97 ac. however the sale also includes an additional large, private recorded easement, a walking path extending all the way to the stunning, rugged cliffs overlooking the Pacific Ocean. As an investment, the home has a proven history as a short-term vacation rental pre-covid and, will be busy again soon. The rental revenues are likely to exceed historical numbers given the ban on many vacation rentals located on agriculturally zoned land. The fact that this property is legal for that use is valuable if income is your goal. Modern luxury w/Craftsman details are uniquely embodied in the main home of 4 bedrooms and 3.5 baths for a total of 3,311 sqft. of living space. Every detail was carefully selected, and quality crafted to compliment the combination of concrete accent walls as well as concrete and hardwood flooring, unique fans and light fixtures, interior and exterior hand-mixed colors, local island woods, and abundant glass. The home is also a tribute to self-sufficient living w/a full photovoltaic 34 panel, 260-watt system and a private well making the home not only safe and private but independent. An oversized 850 sqft. garage with a workshop and a multi-purpose room upstairs adds even more value. OWNER FINANCING MAY BE AVAILABLE w/a substantial down and acceptable credit. NOTE: STVR PERMIT IS FOR 3/3.5.

The Basics
Status
For Sale
Property Type
House
Beds
4
Full Baths
3
Half Baths
1
Living Area
3,311 sf
Lot Size
2.0 acres
Days on Market
17
View
Coastline, Mountain, Ocean, Ocean Horizon, Pasture, Remarks, Sunrise
Pool
Concrete/Gunite, In Ground, Pool Equip, Remarks
Land Tenure
Fee Simple
Financial
Tax Assessed Value
$970,100
Year Assessed
2020
Terms Acceptable
1031 Exchange, Cash, Conventional, Purchase Money Mortgage, Other (remarks)
HOA Fees
$78/mo
Property Taxes
$755/mo
Parcel #
280080500000
Amenities
Flooring
Concrete, Hardwood, Laminate, Stone, Other (remarks)
Inclusions
Curtains, Other (remarks), Dryer, Washing Machine, Disposal, Dishwasher, Microwave, Refrigerator, Range/Oven
Internet
Satellite, Wireless
Features
Ceilings-9'+, Built-in-Book Shelves, Ceiling-Cathedral, Inventory, Landscaped, Office, Recreation Area, Storage Area, Smoke/Heat Detector, Other (remarks), Bar-Wet, Walking/Jogging Path
Telephone
Cell, Land Line, Satellite
TV
Satellite
Fence or Wall
Rock/Stone, Wire
Land
Frontage
None, Almost Oceanfront, Pasture, Preservation/Conservation, Rocky Beach, Other (remarks)
Lot Number
16
Lot Description
Clear, Grassy, Other (remarks)
Land Sqft
85,813
Elevation
No data
Latitude
19.86200961
Longitude
-155.0930312
Subdivision
PEPEEKEO POINT SUBDIVISION
Topography
Fairly Level, Gentle Slope, Remarks
Roads
Private, Paved, Other (remarks)
Zoning
A-20A - Agricultural, 20 acres
Lava Zone
Zone 8 - Remaining part of Mauna Kea. Only a few percents of this area has been covered by lava in the past 10,000 years.
CC&Rs
Covenants, Conditions & Restrictions are rules that govern residences.
Yes
Easements
Beach Access, Electric, Other (remarks), Telephone
Recordation
Regular
Building
Property Type
House
Beds
4
Full Baths
3
Half Baths
1
Pool
Concrete/Gunite, In Ground, Pool Equip, Remarks
Year Built
2015
Waste Water
Septic
Water
Private, Other (remarks), Wells
Power
Gas, Solar/Photovoltaic, Other (remarks), Underground
Design
Concrete, Double Wall, Loft Space, Other (remarks)
Exterior Area Total
864 sf
Stories Number
2
Parking
Vehicle Storage
Detached
Garage Area
850 sf
MLS Data
MLS #
643148
Listing Agent
Rebecca Hirsch-Keliihoomalu RB-19834
Brokerage
Corcoran Pacific Properties
Source
Hawaii Information Service
Listing Date
2020-10-05
Other
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