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2235-2241 15th Ave W - Development Site 0.21 Acres of Residential Land Offered at $1,500,000 in Seattle, WA 98119
Investment Highlights
- 58-Unit, 6-Story Apartment Project – Fully Designed
- Affordable Housing Bonus Utilized to achieve 6th floor
- High-Efficiency Unit Mix suited for workforce and low-income households
- Master Use Permit in Process (Interbay Lofts Apartments)
- No Parking Required (Frequent Transit Service Area)
- Ideal for 4% or 9% LIHTC Execution (buyer to verify program fit)
Executive Summary
Cushman & Wakefield is pleased to present 2235-2241 15th Ave W, a rare, development site in Seattle’s Interbay neighborhood with a master use permit in process for a 6-story, 58-unit affordable apartment building. The project is ideally positioned for non-profit and mission based housing developers seeking scale in a high-opportunity, transit-served location with no parking requirement and strong alignment with LIHTC, MHA-R performance, and public funding sources. The site is zoned C1-55 (M) and benefits from bonus residential floor area for affordable housing, allowing for a sixth floor and maximizing unit yield. The approved design emphasizes efficient unit layouts, strong net-to-gross ratios, and bicycle-oriented urban living, making it well-suited for long-term affordability and operational efficiency.
Property Facts
| Price | $1,500,000 | Property Subtype | Residential |
| Sale Type | Investment | Proposed Use | Multifamily |
| No. Lots | 1 | Total Lot Size | 0.21 AC |
| Property Type | Land | ||
| Zoning | C1-40 | ||
| Price | $1,500,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Multifamily |
| Total Lot Size | 0.21 AC |
| Zoning | C1-40 |
1 Lot Available
Lot
| Price | $1,500,000 | Lot Size | 0.21 AC |
| Price Per AC | $7,180,228.52 |
| Price | $1,500,000 |
| Price Per AC | $7,180,228.52 |
| Lot Size | 0.21 AC |
1 1
Moderately walkable
70/100
Very drivable
80/100
Good public transit
70/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 277160-1005 | Improvements Assessment | $1,000 |
| Land Assessment | $750,700 | Total Assessment | $751,700 |
Property Taxes
Parcel Number
277160-1005
Land Assessment
$750,700
Improvements Assessment
$1,000
Total Assessment
$751,700
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