Property Details

1809 5th Ave N

Seattle, WA 98109

$2,650,000

Available

CBA# 704874 courtesy of CBA Listing firm: Pacific Crest Real Estate LLC

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Commercial

Property Type

5,260

Bldg Sq Ft

Units

3.00%

Cap Rate

1941

Year Built

Property Overview

Arun Apartments "PERMITTED" Development Site. The current permitted property is shovel ready for immediate development and is located in the highly desirable East Queen Anne/Westlake neighborhood of Seattle which offers immediate redevelopment potential in one of Seattle’s most supplyconstrained and sought-after multifamily submarkets. Beyond the existing remodeled 6 units, the site's zoning, pre-obtained permitting and design combine the two existing lots, allowing for an immediate development project consisting of five 4-story rowhouses. This feature presents an invaluable opportunity to bypass the typical lengthy permitting process where investors can elect to execute the permitted project for sale or long-term rental income.