3907 NE 50th St - Laurelhurst Townhouse Dev. Site
0.31 Acres of Residential Land Offered at $3,850,000 in Seattle, WA 98105
INVESTMENT HIGHLIGHTS
- Opportunity to build 12-14 townhouses in an A+ neighborhood in Seattle (Buyer to verify)
- 13,500 Square foot lot zoned LR2 (M) - Zoning code allows for 18,900 net rentable SqFt
- Rare development opportunity located minutes from University Village, Seattle Children’s Hospital and the University of Washington
- Proposed zoning improvement to LR3 (M)
- Existing single-family rental income will allow a developer to purchase the site and gain income off of the property immediately
EXECUTIVE SUMMARY
Paragon Real Estate Advisors is pleased to announce the exclusive listing of a Townhouse Development Site located in the Laurelhurst/Bryant neighborhood in Seattle. This is a rare opportunity to redevelop in one of Seattle’s A+ neighborhoods. The site is located on a corner lot off of 40th Avenue NE, just steps away from Seattle Children’s Hospital, and minutes from the University Village and the University of Washington.
The site consists of three contiguous lots that are all 4,500 square feet, totaling 13,500 square feet of land and are zoned LR2 (M). All three lots are scheduled for an update to LR3 (M) as part of the One Seattle Plan zoning update. Currently on each lot, there is a single-family rambler with a total of 2,710 rentable SqFt spread across the three homes. LR2 (M) has a 1.4 FAR allowing a developer to build 18,900 SqFt of rentable space, which correlates to 12-14 townhouses (Buyer to verify).
The site consists of three contiguous lots that are all 4,500 square feet, totaling 13,500 square feet of land and are zoned LR2 (M). All three lots are scheduled for an update to LR3 (M) as part of the One Seattle Plan zoning update. Currently on each lot, there is a single-family rambler with a total of 2,710 rentable SqFt spread across the three homes. LR2 (M) has a 1.4 FAR allowing a developer to build 18,900 SqFt of rentable space, which correlates to 12-14 townhouses (Buyer to verify).
PROPERTY FACTS
| Price | $3,850,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Total Lot Size | 0.31 AC |
1 LOT AVAILABLE
Lot
| Price | $3,850,000 |
| Price Per AC | $12,422,680.91 |
| Lot Size | 0.31 AC |
1 of 1
Walk Score®
Very Walkable (79)
Bike Score®
Biker's Paradise (90)
ZONING
| Zoning Code | LR2 (M) |
