ATTN Developers, Builders, & Investors! An exceptional, high-density development opp a/w in Lake City urban corridor. Offer for the first time, 7818 & 7822 Lake City Way combined, near-level ~9,000 SF footprint primed for a mid-rise, mixed-use project. Featuring robust C1-55 zoning w/ an allowable 3.75 FAR, provides a clear, predictable pathway to construct. a 6-story bldg. Prelim Feasibility highlights an ideal yield of up to 42 RES units (suited for studios/1-bdrm) ground-floor commercial use. Take advantage of Seattle’s 4-foot gnd-fl height bonus to max. ceiling & views, utilizing UG parking entry. Strong local rental demand, prime eligibility for Seattle's 12 year Multi-family Tax Exemption (MFTE) program to max. your post-stabilization yields. while you clear your master use permits (MUP). Buyer to verify all feasibility and zoning constraints to their satisfaction. Total Lot Size: Approx. 9,000 SF (Combined dual-parcel assemblage) Zoning: C1-55 (Commercial 1, 55’ base height limit) Development Capacity: Up to 33,750 gross buildable SF under a 3.75 FAR Pro-Forma Optimization: High-velocity rental sub-market with excellent financial metrics leveraging Seattle's 12-year MFTE property tax exemption.6-story building featuring ground-floor commercial retail and 5 levels of multifamily housing (up to 42 units). Covered Land Play: Existing residential structures offer immediate holding rental cash flow during the architectural and permitting phases.
| MLS # | 2514400 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Building Name | 9-10 |
| Sub-Type | Resale |
| Status | Active |
| Year | 1925 |
| Days On Site | 118 |
| Listing Provided By | Kelly Right RE of Seattle LLC | Diane Li |
| Bed(s) | 3 |
|---|---|
| Bath(s) | 2 Total |
| SQ Feet | 1,920 |
| Garage | 180 |
| Basement | Y |
| Zoning | C1-55 |
| Acreage | 0.10 |
| Property View | Yes |
| Property | 11036 |
|---|
| State | WA |
|---|---|
| County | King |
| City | Seattle |
| Zip Code | 98115 |
| Area | 710 North Seattle |
| Community Name | Ravenna |
| School District | Roosevelt High |
| Elementary School | Green Lake |
| High School | Roosevelt High |
| Listing VS Median (in Ravenna) | |
Price: $840,000 low | high Med: $847,500 sqft: 1,920 low | high Med: 1,960 $ / sqft: $438 low | high Med: $432 On site: 118 low | high Med: 74.5 | |
| State | WA |
|---|---|
| County | King |
| City | Seattle |
| Zip Code | 98115 |
| Area | 710 North Seattle |
| Community Name | Ravenna |
| School District | Roosevelt High |
| Elementary School | Green Lake |
| High School | Roosevelt High |
| Listing VS Median (in Ravenna) | |
Price: $840,000 low | high Med: $847,500 sqft: 1,920 low | high Med: 1,960 $ / sqft: $438 low | high Med: $432 On site: 118 low | high Med: 74.5 | |