Marcus & Millichap is proud to present Wallingford 6 units with development upside.
Value add opportunity. Easy conversion to add Detached Additional Dwelling Unit by converting former garage which has been partially finished. Structure has electricity with water and drainage. Rents are currently almost 20% below market in one of the most desirable Seattle neighborhoods.
Ideally located in commercial zoned intersection of Wallingford Ave N & N. 40th St. A small pocket of 12 properties which are commercially zoned in heart of Wallingford. The neighboring properties that are on the "small island" of commercially zoned properties in this intersection will realize a higher appreciation of land value due to limited supply of commercially zoned properties in the midst of "the sea" of residential properties in which it serves.
MHA HALA rezone going from NC1-30 to NC1-40 according to all 3 rezone proposals. Current zoning of NC1-30 allows for up to 2.5 Floor-To-Area Ratio which allows for new construction of a building up to 9470 SF. NC1-40 allows for up to 3 Floor-To-Area Ratio which allows for new construction of a building up to 11,364 SF.
3 level structure in main building with partially finished rear structure. Total building SF is 4278 SF = 3972 SF main building + 306 SF partially finished rear building. Net rentable SF is 3550 SF. Unit 6 is a 2 bedroom 1 bathroom unit which is the only unit below grade. Units 1 & 2 are 1 bedroom 1 bathroom units which are on main level. Units 3, 4 & 5 are studios on top floor each with own kitchen. Studios on top floor share 1 large bathroom. Coin-op laundry in lower level.
