$1,400,000

1245 Kaumana Dr

HILO HI, 96720

Description

Huge potential!

Home to the famed Kaumana Caves Inn Bed & Breakfast, this three acre property comes with three homes total and has preliminary approval for a six lot subdivision project.

Water entitlements are already in place and construction plans have been submitted for the project, which is transferable to a new owner. A multi-phase appraisal was performed prior to listing and is available upon request.

The Kaumana Caves Inn was a highly successful Bed & Breakfast operation prior to the COVID pandemic. Measuring nearly 2,000 square feet with towering open beam ceilings, the home enjoys plenty of natural light and good airflow. Redwood, Ohia and Oak abound throughout this open floor plan. Next door you'll find a dedicated outdoor gym and sauna area that are a hit with guests.

Two other rental homes come with the property. Each is a three bedroom, 1,054 square foot Kamaaina-style build with good rental history.

Mature landscaping includes Coffee, Lychee, Noni, Avocado, and Mountain Apple trees along with pineapple, lilikoi & other tropical fruits! The property backs into State-owned lands.

Located just minutes from Hilo's downtown shopping & market districts and an hour's drive from Waikoloa Village & Kamuela, the property is well-located along the fastest growing coastline in the state of Hawaii.

**The current owner has temporarily suspended Bed & Breakfast bookings due to COVID, but the license is transferable. Property is tenant occupied and to be shown by appointment only. Buyers and their agents to verify all details above regarding subdivision potential and transferability of both the subdivision project and Bed & Breakfast permit and any/all project entitlements & construction plans. Documentation available upon request.

Details

MLS#647515
Listing TypeFor Sale
StyleHouse
Sub-TypeFee Simple
StatusActive
Year1975
Days On Site32

Features

Bed(s)9
Bath(s) 7 Total
SQ Feet4,062
Acreage3.00
Property ViewYes

Market Activity 96720

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Area Information
StateHI
CityHILO
Zip Code96720
AreaBig Island
SubareaSouth Hilo
Listing VS Median (in 96720)
Price:
$1,400,000
low | high
Med:
$378,500
100% of Average
SqFt:
4,062
low | high
Med:
978
100% of Average
$ / SqFt:
$345
low | high
Med:
$419
28.490463191469% of Average
On Site:
32
low | high
Med:
82
39.024390243902% of Average
Sourced by Back At You
Listing Updated: May 14, 2021 8:35:17 PM PDT
Nate Gaddis LogoMLS Number: 647515
Listing Provided By:
Nate Gaddis  of  Elite Pacific Properties LLC

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