The Robin Masters Estate (Pahonu)

[KENJI]

My pleasure James!
I've always been curious who built OUR dream house.
If R10 zoning has a minimum of 10,000sq.ft. and an acre is equal to about 43,560sq.ft. x 3 acres....Pahonu =130,680sq.ft.... divided by 10,000 sq.ft (R10 min.)......there might be the potential for 13 lots going on that parcel. I'm sure it would be far less when you measure out the lay of the land, easements, set backs etc., etc......even if it gets split only twice or three times it will destroy something so beautiful and perfect. Fingers crossed, but the clock is really ticking on Pahonu. It's interesting how we've been watching Pahonu slowly die over the years and now it might and I stress might, disappear altogether rather quickly.......I think I prefer the slow death in this case. Time will tell what happens next. Watching this from the sidelines is REALLY tough!

[J.J. Walters]

Oh, LOL! I totally misinterpreted that! Read it too quickly. I was looking at the building size. The lot size is 130897.80!

Well, let's just hope that doesn't happen!

It's says "historic" though, right. HISTORIC! Surely they can't parcel it out if it is historic? *grasping at straws*

I love the monthly payment breakdown at the bottom of the Prudential page. If we can come up with $3.1M for the down payment we can get a loan for $12.6M. Then our monthly mortgage payment will be a cool $83,852! LOL! Are $12M loans even possible in this day and age??

[steveadl]

Oh, LOL! I totally misinterpreted that! Read it too quickly. I was looking at the building size. The lot size is 130897.80!

Well, let's just hope that doesn't happen!

It's says "historic" though, right. HISTORIC! Surely they can't parcel it out if it is historic? *grasping at straws*

Most likely scenarios would be;

A) Bought and totally demolished to create a massive new mansion. Likely still subdivide one, possibly two blocks of excess land - depending on the new owners wealth and desired land upon completion.

B) If the building is historic and can't be demolished, they'll renovate, and sub-divide.

Either way I can't see the land holding remaining the same. The odds of it being bought by someone who wants all the land and is willing to renovate the entire place is slim

[Pahonu]

My pleasure James!
I've always been curious who built OUR dream house.
If R10 zoning has a minimum of 10,000sq.ft. and an acre is equal to about 43,560sq.ft. x 3 acres....Pahonu =130,680sq.ft.... divided by 10,000 sq.ft (R10 min.)......there might be the potential for 13 lots going on that parcel.

This is what I feared. Subdivision is typically restricted by minimum lot size not a random number of divisions. Look at the small size of the lots to the east. This is probably a very valuable parcel of land when subdivided this way. There is hope an organization could purchase it, not unlike the Shriners next door, and keep it intact, but I wouldn't hold my breath.

The worst would be a total teardown by someone very wealthy who wanted their own completely new residence. Steve Jobs did this with the historic Jackling House in Woodside, CA. It was designed by George Washington Smith, the Santa Barbara architect who revived the Spanish Colonial style in California, no less. It was demolished after a long battle, and sadly after Jobs death, it is now gone and nothing has replaced it.

I've read far too many of these types of stories: Pia Zadora and her husband demolishing Pickfair, and Aaron Spelling doing the same to the Bing Crosby estate.

[ConchRepublican]

I sent something to Roger and Larry on Facebook. Hey you never know .....

[Lily]

Will be on Oahu in February, so will pass by the Estate at that time and see what might be going on.

With the property looking really run down, can imagine any new buyer might very well demolish and build something completely different. Despite minimal repairs to the house over the past couple of years, one has to wonder why Mrs. A. kept the Estate in such disrepair, especially the boathouse. If I see her this time, I am talking to her!

[KENJI]

Hi Lily,

If you see a for sale sign posted out front please send it to James so he can add it to the site! I doubt there will be one, but just in case.

Today I was wondering if Eve was thinking of selling the place a few years back, but the economy was so bad that it wasn't worth it. Maybe now that there are signs of improvement she has decided this is the time to pull the trigger....a guess at best. Another guess on your disrepair comment.....I think she doesn't have the money needed to keep it up hence the minimal repairs....I'm guessing here, but just the property tax for the year is $27,600.....then add house insurance, power bill, a bit of maintenance and it is creeping up there....then you have your other expenses on top of that such as food, car, clothes, medical etc and there might be very little left over to do any massive renovation.......all guesses. Have fun on Oahu.....we are going to the Big Island in Feb. so we might cross paths in the air....enjoy!

[Styles Bitchley]

I sent something to Roger and Larry on Facebook. Hey you never know .....

I know they're relatively successful actors, but I don't think either would have that kind of cash.

[Steve]

I sent something to Roger and Larry on Facebook. Hey you never know .....

I know they're relatively successful actors, but I don't think either would have that kind of cash.

Okay, how about this scenario; Larry and Roger contact Tom, he approaches his brothers that run Selleck Properties that are commercial real estate developers and whose father was an executive with Coldwel Banker. They easily negotiate the price down to around 8 million or less where it really should be, they fix up the grounds, and the facias of the buildings and turn it into a tourist attraction for Magnum AND H-50 fans. The tour busses already drive right past there and I'm thinking they could have a nice little business just by selling gifts, memorabilia, shirts and even booking the property for weddings. (Man's gottaa dream).

[ConchRepublican]

I sent something to Roger and Larry on Facebook. Hey you never know .....

I know they're relatively successful actors, but I don't think either would have that kind of cash.

But . . . They know a very successful actor.

Okay, how about this scenario; Larry and Roger contact Tom, he approaches his brothers that run Selleck Properties that are commercial real estate developers and whose father was an executive with Coldwel Banker. They easily negotiate the price down to around 8 million or less where it really should be, they fix up the grounds, and the facias of the buildings and turn it into a tourist attraction for Magnum AND H-50 fans. The tour busses already drive right past there and I'm thinking they could have a nice little business just by selling gifts, memorabilia, shirts and even booking the property for weddings. (Man's gottaa dream).

Bingo

[308GUY]

Yep, that'll work.

Kind of along the lines of what I was thinking. Probably "wishfull" thinking, but ya just never know.

Will be waiting and watching.

"There's basically three types of people in the world....
Those who make something happen..
Those who watch something happen, and...
Those who say, "Did something happen?""

[KENJI]

I was looking at the listing spec sheet again and had to laugh when I came across two things that are included.....cable tv.....I sure hope there is cable for $15.75 million....and the security system........I wonder if it is Star Guard, Dracos lll.8 (new and improved) or Z&A K-9 unit. I think we need a little bit of humour right about now.

Also interesting.....the assessed value of the land came in at $6,126,900 and the assessed value of improvements (buildings etc.) came in at $1,880,400 for a total of $8,007,300. Assessed value is not market value, but it is still interesting that they put market value at basically double the assessed value.

The flood zone code: Zone VE could be interesting....something to look into....I wonder if they need extra insurance for that area.

[Pahonu]

I was looking at the listing spec sheet again and had to laugh when I came across two things that are included.....cable tv.....I sure hope there is cable for $15.75 million....and the security system........I wonder if it is Star Guard, Dracos lll.8 (new and improved) or Z&A K-9 unit. I think we need a little bit of humour right about now.

Also interesting.....the assessed value of the land came in at $6,126,900 and the assessed value of improvements (buildings etc.) came in at $1,880,400 for a total of $8,007,300. Assessed value is not market value, but it is still interesting that they put market value at basically double the assessed value.

The flood zone code: Zone VE could be interesting....something to look into....I wonder if they need extra insurance for that area.

It also lists a "separate bath house" . Any ideas?

[Sam]

Hi Pahonu,

extra large garage with workshop and separate bath house.

I'm guessing it's the garage to the right of the house and the bath house is used after a swim.A place to change before entering the house.

Condition: Average, Needs Major Repair

http://www.oahure.com/SearchMLS_Details ... RES#photos

[KENJI]

Update.......I just found the actual listing agent's info on her site - Mary Worrall and her daughter, Elizabeth Worrall Daily at Sotheby's and they mention the assessed tax value at $8,007,300 and then near the bottom there is the a 2014 assessed value.......land at $6,126,900 and buildings assessed at $4,073,800 for a total of $10,200,700....factor in a building exemption of $120,000 and it drops a little to $10,080,700. It seems very strange that the buildings assessed value went up that much, especially since it doesn't appear there were any improvements done.....at least not on the outside. I know the market has improved a bit over there and that might be part of the equation as well. Maybe that was the deciding factor for Mrs Anderson to sell (a guess) as her taxes would be going up. Have a look and tell me what you think.

Also look at the layout:

http://www.oahureale.com/Search/images/ ... 070000.jpg