140 Kahala Pl in Kula

MLS#398207 -CANCELED

$3,395,000 FS

2 Bedrooms

1 Bathrooms

710 sqft

3.42 Acres

140 Kahala Place is a 3.43-acre ocean-view income property located on a quiet 4 parcel cul-de-sac in Kula’s “Goldilocks Zone,” which enjoys a beautiful, temperate climate. This Mature Hawaiiana Estate has a full-growth canopy, fruit trees, existing structures, and various supporting buildings. The property has recently been upgraded to make it easier for a buyer to come in and develop the property along several potential strategies. In terms of Agriculture, the property will accommodate an agricultural technology R&D facility as well as crop cultivation and greenhouses, benefiting from the existing 1 ½ inch water meter service. All the while benefiting from existing rental income in a very tight market. The property’s location and elevation afford stunning views of Maui’s North Shore and the West Maui Mountains; mornings and sunsets are glorious from this Upcountry position! There are currently three structures on the property: a Main House, Ohana, and an auxiliary building. The Main House (Bronze) has an open living room and kitchen area. A pitched ceiling with exposed beams gives the home a contemporary feel, while a wall of sliding doors opens onto a large, trellis-covered lanai with splendid ocean and mountain views. The country kitchen has a breakfast bar for casual dining and plenty of cabinet space. There are two bedrooms and a full bath. One bedroom has a pitched ceiling, wood-paneled walls, ample closet space, and fabulous mountain and ocean views. The zoning allows for the expansion of the Main Home or the construction of an expansive Executive Home. A separate, hexagonal wood structure contains a “flex room” that can be used as an office, yoga room, or additional bedroom. The Hexagon can be relocated to another space on the property if desired. In addition, the structure has an outdoor shower and mud room in the back - and an outdoor oven. The Ohana (green home) is 1,000 sq. ft., has a pitched ceiling with exposed beams, a wood-burning stove, and a large outdoor deck. There are two bedrooms and a full bath. Bedrooms have gorgeous wood floors, including one with sliding glass doors that lead out to the yard. The Ohana also has a charming wooden structure adjacent that serves as a flex room, which can serve as a bedroom, yoga room, office, or artist’s studio. There are two outdoor showers, a lavatory, and a washer/dryer hookup, in addition to the interior amenities. Berms and abundant tropical foliage create a natural privacy wall between the dwellings. All the dwellings and structures on the property are separately metered for electricity. The Auxiliary or “barn dwelling is a massive 4,300 sq. ft. structure. The space has a rough country charm, with 16 ft high ceilings and exposed rafters. A large living area opens onto the patio with a rambling water feature and a view of the lush tropical grounds with mature palms. Upstairs, there are two large loft rooms and a full bath, each with direct access to the covered outdoor lanai spaces. The barn also has two oversized garage spaces and ample storage. 140 Kahala Place offers many options for new owners. The dwellings can be rented, with estimated monthly rental revenue of $10,000. In addition, due to the nature of easements, there may be the option to acquire additional acreage and organize the property around different access points.' Farming can also be amped up or kept at a minimal level to ensure water and pricing advantages. Many years ago, the property was the site of a Bird of Paradise farm, which grossed $80,000 annually, roughly $400 - $500K today. 140 Kahala Place is especially suitable for buyers who value flexibility in their investments. Besides the multiple homes, great ocean views, rental income, and being an excellent site for a future executive home, the property lends itself to Ag Tech R&D or a Veterinary Business. ?You are also conveniently located within 18 minutes of the airport, central restaurants, services, and local

The Smith Team may represent you as a Buyer's Agent. Courtesy of Welcome Hawaii Properties atCell: 808-280-2480 via The Maui Multiple Listing Service