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83-5599-D MIDDLE KEEI RD, Keei, HI 96704

Score 97 | Views 962 | Saves 3
$264,900 Leasehold
Home|Contingent||Foreclosure
TMK 3830070610000
Value
Beds / Baths:
4 / 2.0
Living Area:
1,728 sf
Land (acres):
6.30 ac
Year Built:
2005
Days on Market:
6 mth
More Info

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Mls

Latitude
19.4557059258
Longitude
-155.895708312
Pool
N
Land Area
274428
Property Type
Residential
Year Built
2005
Latitude
19.4557059258
Longitude
-155.895708312
Ocean Frontage
N
Living Area
1728
Fractional
Full
Pool
N
Listing Date
2013-10-17T10:00:00
View
Coastline,Mountain,Ocean,Ocean Horizon
Parking
None
Road Type
Paved

Tax

Tax Assessed
258500
Taxkey
3830070610000
Tenure
Leasehold
Yearly Property Taxes
2391.00
Acceptable Term
Cash
A fantastic opportunity to purchase this bank owned leasehold farm. Located at the end of a private country road the property offers a tranquil setting to enjoy stunning coastline and ocean views. The home offers 4 bedrooms and 2 bathrooms configured in two separate 2 bedroom and 1 bathroom improvements each with a large wrap-around deck. On the interior you'll find granite counter tops, custom cabinets, and tiled floors in the kitchen and bathroom areas. Below the home is an open storage space. This relatively new, 2005, home is situated on the upper end of the property overlooking a working farm. The farm (6.3 ac) comes with many mature coffee, macadamias, and fruit trees. The upper half is situated on a moderately sloping hillside to benefit the main homes ocean and coastline views at an elevation of roughly 680'. The lower half slopes gently to benefit the farm at an elevation of roughly 600'.

In regards to the lease terms, please note the following:

-There is no commitment to renew the lease.
-In 2002 a "productive lease" framework for 35 years was drawn. Must match USDA requirements for the previous three of five years. Requirements can be found here: http://www.nass.usda.gov/Statistics_by_State/Hawaii/index.asp
-In 2010 documentation for new lease requirements was drafted.
-Buyer cannot renegotiate lease during escrow period.
-Lease rent is discounted due to AG productivity. This is $1660 per year
-Property tax paid directly to KSBE by Lessee in February and August.
-This is a commercial agricultural lease which requires 6 acres of the parcel must be planted and harvested as a working farm year round.
-Home is a farm dwelling.
-If rented KSBE is entitled to 50% of all rental proceeds but not AG proceeds. B & B may be permitted but at 12% of fair market value leasehold rent and 6% of vacation rental proceeds.
-90 to 120 days minimum from contract acceptance to re-assignment of the lease.
Listing Brokerage: Kohala Resort Realty, LLC

MLS # 267514

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UA-3679744-1
crawled:20140424 114424 284ms
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