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4722 15th Ave NE 0.3 Acres of Commercial Land Offered at $6,520,000 in Seattle, WA 98105
Investment Highlights
- Very rare investment opportunity! In the heart of U District adjacent to UW, 12960 SqFt with 3 lots zoned NC2 (M), fully designed top-level apartment
- The project features a 7-story building with highly valuable commercial space on the 1st floor and 127 units from 2nd-7th floors, totaling 45,926 sqft
- High demand for student housing, 99 walk score, 93 bike score, 82 transit score.
- The Rhythm Apartments project, with 3 neighboring parcels, has secured the MUP and is finalizing building permit.
- Minutes walk to UW central campus and U District light rail station
Executive Summary
Property Facts
| Price | $6,520,000 | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | Apartment Units |
| Sale Condition | Redevelopment Project | Total Lot Size | 0.30 AC |
| No. Lots | 1 | No. Stories | 3 |
| Property Type | Land | ||
| Zoning | NC2 (M) - Uses include housing & offices. Characterized by an attractive pedestrian environment, medium businesses and lot sizes, and moderate transit service. | ||
| Price | $6,520,000 |
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Apartment Units |
| Total Lot Size | 0.30 AC |
| No. Stories | 3 |
| Zoning | NC2 (M) - Uses include housing & offices. Characterized by an attractive pedestrian environment, medium businesses and lot sizes, and moderate transit service. |
1 Lot Available
Lot
| Price | $6,520,000 | Lot Size | 0.30 AC |
| Price Per AC | $21,914,419.49 |
| Price | $6,520,000 |
| Price Per AC | $21,914,419.49 |
| Lot Size | 0.30 AC |
Prime location with 3 neighboring parcels flat lots adjacent to UW in the heart of U District. Already secured the MUP, in the final stages of obtaining building permits. Minutes walking to UW and U District light rail station. Hard to find location!
Description
The Rhythm Apartments project, comprised of 3 neighboring parcels, has already secured the Master Use Permit (MUP) and is in the final stages of obtaining building permits. This meticulously planned project features a 7-story building with highly coveted commercial space on the 1st floor, while the 2nd to 7th floors house 127 units, totaling 45,926 square feet with an average unit size of 362 square feet. With optimal investment returns expected in a short timeframe, this project is adream opportunity for savvy investors. Additionally, the design includes underground parking space for added convenience.
Property Taxes
| Parcel Numbers | Improvements Assessment | $1,000 | |
| Land Assessment | $5,478,400 | Total Assessment | $5,479,400 |
Property Taxes
Contact the Sale Advisor
4722 15th Ave NE