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- LoopNet Team
9025 46th S ave
Seattle, WA 98118
Rainier Beach Development Site · Land For Sale · 0.15 AC
Investment Highlights
- Permit ready to develop a 42-unit apartment building, with unobstructed views of Lake Washington to the east.
- 6,500 SF lot, zoned LR3 (M2)/Urban Village, at an attractive $169 per square foot.
- Flat, undeveloped lot, with no displacement required.
- Potential to change use and develop luxury townhomes.
- Favorable Seller Financing available. Contact broker for additional information.
- Located in an opportunity zone, and the Rainier Beach Urban Village in a low MHA area.
PROPERTY FACTS
| Property Type | Land | Proposed Use | Multifamily |
| Property Subtype | Commercial | Total Lot Size | 0.15 AC |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Multifamily |
| Total Lot Size | 0.15 AC |
Description
The Rainier Beach Development Site is a 6,500 square foot lot, zoned LR3 (M2) and located in an Urban Village, and located in an Urban Village. The site is for offer at an attractive $105 per square foot. This transit-orientated development site requires no parking, allowing the developer to maximize the square footage of the lot. The property boasts a walk score of 81 and is within a 5-minute walking distance to the Light Rail Station, Rainier Beach Community Center, Safeway, and numerous parks and beaches. The development site sits in a strong employment hub, hosting over 3,000 business, 36,000 employees, and a residential population of 115,000 within a 3-mile radius of the property. Additionally, being located in an opportunity zone opens up certain tax incentives to the owner.
PROPERTY TAXES
| Parcel Number | 212270-0006 | Improvements Assessment | $0 |
| Land Assessment | $178,000 | Total Assessment | $178,000 |
PROPERTY TAXES
zoning
| Zoning Code | LR3 (M2) / Urban Village |
| LR3 (M2) / Urban Village |
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