Private Tantalus estate
If you know and love the Tantalus area, you can appreciate the fact that when the original owners honeymooned at this house in the early 1900s, they loved it so much that they stayed. This home, built in 1918, has been so loved, it's been in the Black family since then.
The condition of the home after almost a century is just all right, but the new owners will probably want to rebuild and create their own memories on the 26,461-square-foot estate. (Click here for details.)
"The value is really in the land,” says realtor Tom Presler of Prudential Locations. “It’s one of the last fairly flat, buildable lots with both views of Manoa and the ocean on one side, and Ewa and the ocean on the other side.”
Presler adds that although there is overhead electricity, there’s no public water or sewage system—so if you rebuilt a home on the lot with photovoltaic systems and reserve batteries, you could theoretically live “off the grid.” The property is also very private; there’s a long driveway leading up to it, so you won’t be able to see it from the main road.
This property is actually three lots bundled into one for the sale. You can also purchase the adjacent 20,661-square-foot lot for $1.25 million to create an even larger estate.
In the meantime, the main home that sits on this lot is 1,293 square feet with four bedrooms and three bathrooms. Presler, assuming the new owners will rebuild, notes that the other structures on the lot can provide a monthly income of $4,300, so it can be productive while construction is underway.
Money talk: $2,250,000 fee simple
Contact: Tom Presler, Prudential Locations, 808-222-4054, Tom.Presler@pruhawaii.com
Posted on Thursday, July 19, 2012 in Permalink