Property Details

The Rainier Beach Development Site presents a rare opportunity to acquire a shovel-ready multifamily development parcel in Seattle’s Rainier Beach Urban Village. The 6,500-square-foot site is zoned LR3 (M2) and is being offered with a fully approved Master Use Permit (MUP) for a 42-unit apartment development. The MUP remains active through September 2028, eliminating entitlement risk and allowing a developer to move efficiently toward construction. Significant pre-development work has already been completed, creating substantial value for the next owner. Architectural and engineering fees have been fully paid, with approved plans, entitlements, and development work product included in the sale. The project also qualifies for Seattle’s 12-Year Multifamily Tax Exemption (MFTE) Program and benefits from a transit-oriented location with no parking requirements. Within walking distance of the Rainier Beach Light Rail Station, neighborhood retail, parks, and community amenities, the property offers a compelling opportunity to develop multifamily housing in one of South Seattle’s growing urban villages. The surrounding area continues to experience strong residential demand, supported by ongoing investment, expanding transit connectivity, and proximity to major employment centers throughout the Seattle metropolitan area.