Five years ago I wrote an article about a few homes in Diamond Head that were flipped and sold for a profit. Today, sellers are back at it flipping homes in Diamond Head. Although the gains aren’t as high as they were right after the crash, money is being made in Diamond Head. Here’s a few noteworthy ones I’ve been showing to some clients lately:
Diamond Head Home Flipping
3003 Noela Drive is at the gateway to one of Diamond Head’s most prestigious streets. I wrote about this home 3 years ago and knew it was a great buy back then. It ended up selling for $2.1 million in November of 2012. It came back on market earlier this year for $2.98 million and is currently in escrow with an asking price of $2,598,000.
Home on Noela Drive (MLS# 201505672) is back in escrow
656 Paikau Street is a cool mid century modern home on a quiet street on the back (Kahala) side of Diamond Head. It also last sold in late 2012. The price then was $2.2 million. The home came back on market earlier this year for $2,788,000 and is currently in escrow.
This home on Paikau Street (MLS# 201501196) is also back in escrow
In addition to Diamond Head home flipping, there’s also been a handful in nearby Black Point I’ve shown or seen in the past:
Black Point Home Flipping
4154 Akulikuli Terrace came back on market last year for $3,495,000. The Seller is a little more ambitious in getting appreciation than the Diamond Head Homes above, having purchased it for $2,140,000 in late 2012. However, this home is located in the gated section of Black Point and is very exclusive for privacy.
Home on Akulikuli Terrace (MLS# 201416939) also last sold in 2012
4337 Kahala Avenue came back on market in April. The Seller got a great buy as it was part of Alexander and Baldwin’s portfolio that was purchased from Genshiro Kawamoto and paid $1,550,000. Since I drive by this daily, I’ve noticed all the work happening. They’ve done a great job of cleaning up the property and getting it back in to shape. It’s currently listed for $2,695,000.
This gingerbread home on Kahala Ave. (MLS# 201506110) last sold in November of 2014
Unlike the homes in Diamond Head that are under contract, these two in Black Point are still available.
To learn more about what’s happening in Diamond Head and adjacent Black Point, feel free to contact me for more information.