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    5201-5223 Rainier Ave S | Seattle Seattle, WA 98118

    For Sale
    $4,900,000

    Premier multifamily development site near mass transit and urban amenities.

    Property size:
    24 SF

    Property Features for 5201-5223 Rainier Ave S | Seattle

    General Information

    Size
    24 SF

    Source: Stuart Williams Agent Stuart Williams

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

    Overview

    Multifamily Development Site in Columbia

    This property presents an opportunity to acquire a multifamily development site in Columbia City, adjacent to a thriving urban neighborhood with proximity to mass transit, light rail, and abundant amenities. The site has a Master Use Permit (MUP) and Building Permit and is ready for development. The approved plan allows for 111 multifamily units, including 3 live-work units and 1,621 square feet of retail space. An alternative townhome development scenario has been explored, featuring 23 units, 19 of which include garage parking. These units average 1,825 square feet and primarily offer three bedrooms plus a den. The property size is 24.
    Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Realty agency Law Firm 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
    -122.281901
    Latitude
    47.554067

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    FAQs

    What type of property is this?
    Land - Premier multifamily development site near mass transit and urban amenities.
    Where is this land located?
    The property is located at 5201-5223 Rainier Ave S | Seattle Seattle, WA.
    What is the asking price?
    The asking price for this property is $4,900,000.
    What are key features of this property?
    This property features: - Shovel-ready multifamily development site with permits in place.; - Approved for 111 multifamily units, including live-work units and retail space.; - Located in a thriving urban neighborhood near mass transit and amenities.
    (206) 219-1281
    Request Owner's contact information
    5201-5223 Rainier Ave S | Seattle Seattle, WA 98118
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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
    5201-5223 Rainier Ave S | Seattle Seattle, WA 98118
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