Description
Rare development opportunity for Townhome Builder or Value-Add Investor in the heart of the South Lake Union/Eastlake corridor. Prime lot offers sweeping, protected views of Lake Union, the Seattle Skyline, and the Olympic Mountains. Able to accommodate 4-5 new townhomes. Two larger townhomes could be built off the alley & three smaller ones facing Lake Union (or vice versa). Avg unit size = 1,793 sq ft. The property currently houses a very clean, well-maintained, solid income producing 4-plex generating healthy returns while you navigate the permitting process. Landlord has never increased rent on a tenant. Zero vacancy. Outstanding tenants. Rents below market rate. Each unit features 1 bed/1 bath, fireplace, washer/dryer, dishwasher, hardwood flooring, parking. Large living rm could easily accomodate a 2nd bdrm in each unit. View photos shot from future 3rd -4th floor/roof top deck of this Bldg. Located on bus line & w/in walking distance to Amazon, Google, and the life sciences hub. 5 off-street parking spaces in rear. Zoned LR2(M), allowing for up to 4 stories with rooftop decks. Ideal opportunity for investor, builder or owner/occupant!
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0BEDS
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0.12ACRES
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0BATHS
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01/2 BATHS
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3,000SQFT
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$533$/SQFT
School Information
Listing courtesy of Northwest MLS as distributed by MLS GRID. Listing courtesy of John L. Scott, Inc..
Mortgage Calculator is provided by BoomTown.
Description
Rare development opportunity for Townhome Builder or Value-Add Investor in the heart of the South Lake Union/Eastlake corridor. Prime lot offers sweeping, protected views of Lake Union, the Seattle Skyline, and the Olympic Mountains. Able to accommodate 4-5 new townhomes. Two larger townhomes could be built off the alley & three smaller ones facing Lake Union (or vice versa). Avg unit size = 1,793 sq ft. The property currently houses a very clean, well-maintained, solid income producing 4-plex generating healthy returns while you navigate the permitting process. Landlord has never increased rent on a tenant. Zero vacancy. Outstanding tenants. Rents below market rate. Each unit features 1 bed/1 bath, fireplace, washer/dryer, dishwasher, hardwood flooring, parking. Large living rm could easily accomodate a 2nd bdrm in each unit. View photos shot from future 3rd -4th floor/roof top deck of this Bldg. Located on bus line & w/in walking distance to Amazon, Google, and the life sciences hub. 5 off-street parking spaces in rear. Zoned LR2(M), allowing for up to 4 stories with rooftop decks. Ideal opportunity for investor, builder or owner/occupant!
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