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    10516 Lake City Way NE Seattle, WA 98125

    For Sale
    $1,990,000

    Development project with permits for 18-unit apartment in Seattle.

    Building Details

    Year built
    1948

    Source: WINDERMERE R.E. MIDTOWN LAKEVIEW Agent LARRY WILCYNSKI

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Seattle Development Project with Permits

    This development project is underway in a Seattle location. Existing building permits are available to complete an 18-unit apartment building. The NC3-55 (M) zoning offers potential for increased density. The existing structure and plan, adapted from the Don Willis furniture store and warehouse, features a unit mix, soaring ceilings with exposed timber beams, and 26 parking stalls. The property is located near major transit options, retail, dining, and entertainment, including the 41-acre Northgate Station redevelopment. This project offers momentum and potential.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.3012606
    Latitude
    47.7053415

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    FAQs

    What type of property is this?
    Apartment building - Development project with permits for 18-unit apartment in Seattle.
    Where is this apartment building located?
    The property is located at 10516 Lake City Way NE Seattle, WA.
    What is the asking price?
    The asking price for this property is $1,990,000.
    What are key features of this property?
    This property features: - Prime Seattle location near major transit, retail, dining, and entertainment, including the Northgate Station redevelopment.; - Existing building permits in place for an 18-unit apartment development.; - NC3-55 (M) zoning offers potential for increased density beyond the current plan.
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    Seattle, WA 98125
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    10516 Lake City Way NE Seattle, WA 98125
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