Open House
Sat Jan 17, 10:00am - 12:00pm
Sun Jan 18, 1:00pm - 3:00pm
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Square Footage 1,892 sqft
Price per Sqft $525
Subdivision Panaewa Houselots
MLS Listing ID 726875
Bedrooms 6
Full Baths 4
HOA Y/N No
Year Built 1963
Annual Tax Amount $2,815
Tax Year 2025
Lot Size 2.730 Acres
Property Sub-Type Duplex
Source Hawaii Information Service
Land Area 118919
Property Description
Located in the highly desirable Panaewa Houselots, this centrally placed and spacious property presents a rare opportunity for investors or extended-family living. Properties of this type seldom become available in this area.
Conveniently situated near Prince Kuhio Plaza and Puainako Town Center, the location offers an ideal balance of privacy and accessibility. Owned by a longtime kamaʻāina family, this is the first time the property has ever been offered for sale—truly a unique opportunity.
Situated at 360 Lama Street, the large rectangular lot features two fully permitted, detached homes, each with easy road access and its own carport parking. The rear portion of the land provides generous outdoor space, ideal for gardening, recreation, or future possibilities. Currently operated as long-term rentals and professionally managed by a Hilo property management company, the house lot offers immediate income potential.
Property Details:
1. 360-A: 3 Bedrooms | 2 Bath | Extended Living Room | Carport | Approx. 968 sqft. (Tenant occupied, month-to-month; easy to show)
2. 360-B: 3 Bedrooms | 2 Bath| Extended Living Room | Carport | Approx. 924 sqft. (Vacant)
Perfect for investors, multi-generational living, or owner-occupants seeking flexibility, this versatile property offers endless potential and is a must-see.
Information deemed reliable but not guaranteed. Buyers and buyers' agents to independently verify all material facts. Bathroom count does not match county records.
Location
State HI
County Hawaii Island (big Island)
Community Panaewa Houselots
Area Hi
Zoning A-3A
Region South Hilo
City Region South Hilo
Interior
Flooring Carpet
Exterior
Parking Features Covered
Utilities Available Cable Available, Electricity Available, Phone Available
View Y/N No
Topography Fairly Level
Garage No
Private Pool No
Building
Lot Description Cleared, Wooded
Sewer Cesspool
Others
Ownership Full
Acceptable Financing 1031 Exchange, Cash, Conventional, VA Loan
Listing Terms 1031 Exchange, Cash, Conventional, VA Loan
Special Listing Condition Fee Simple, Standard
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