1503 Piihana Rd, Wailuku, 96793

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$499,900

MLS® #: 402101

THIS LOT IS NOT IN A SUBDIVISION. This is country living in town. Some of the surrounding lots are cluttered but if you want a really big lot for way less than what's on the market. Compare to all the other subdivision lots in the 96793 zip code and lot 57 is by far the very best value for sale. Water lateral is in the ground. Water meter is available and just needs to be dropped into the box. Lot 56 is contiguous and has his meter. As of January 15, 2024 this lot qualifies for the Maui County Assistance Pilot program which offers grants up to $100,000 to build an accessory building or 2nd farm dwelling for residents long term occupancy. Bill 38 CD1(2023) follows the Council's enactment of Ordinance 5525. The zoning code allows one accessory dwelling unit(ADU) on all residential lots of at least 7,500 SF. This lot can be CPR'd into several lots. Lot 57 is in the Pi'ihana project District with the FEMA designation of Zone X/no flood. There is an existing perpetual flood plain easement from 1980 which is obsolete and no longer relevant pursuant to the 2021 Army Corps of Engineers 335 page study deeming the area NOT in any flood zone due to mitigating factors done over the past 44 years. I will be doing a topographical survey map for the lot which should indicate which part of the lot is in the flood plain if at all. I have been communicating with Jordan Molina in Public Works to remove this obsolete flood plain easement. All my communications with Public Works will be on Assoc Docs. Only a portion of lot 57 pursuant to the flood plain survey done by Control Point Surveyors in 2011 is in the flood plain and the flood plain document DOES NOT prohibit permanent structures in the obsolete flood plain. Read EXHIBIT A in Assoc Docs to see the permitted uses in the Project District. Re: the BRIDGE requirement for the 600 unit Pi'ihana Project District development. The funding is in place from the state, federal and county levels plus local developers building in this area. The bridge is imminent and will be built. Here are some good SOLD comparables all in Wailuku zip code. 0 Kauna Lipo Dr. with 23,849 SF SOLD for $580,000 on 2/3/2023 @$24.32 PSF. 0 Kiha with 24,432 SF sold for $630,000 on 2/28/23 @$25.78 PSF. 531 Kauna Lipo Dr. with 17,960 SF sold for $649,000 on 4/5/2024 @$36.14 PSF.. A Wailuku lot with 2,814 SF just sold on 3/8/2024 for $357,000 @$126.87 PSF. A 7,568 SF lot sold for $350,000 on 2/15/2023 @$46.25 PSF; An 11,330 SF lot sold for $412,500 on 1/27/2023 @36.41 PSF and a 9,278 SF lot sold for $412,500 0n 1/27/22023 @$44.46 PSF. If you want a gated and manicured subdivision this lot is not for you. You need vision to see what it can be. It's only $21.85 PSF. By county ordinance you can draw water from the IAO Stream for irrigation.