Entitled Multifamily Development
For Sale
Contact for pricing
5701 Shannon Avenue, Ferndale, WA 98248
Site plan approved for a phased multifamily project with 260 units and planned views.
Property SizeContact for details
Lot Size8.60 Acres
Days on Market75
Property Features for 5701 Shannon Avenue
General Information
Standard status
Active
Lot size
8.60 Acres
Property subtype
Multifamily, Land
Investment Type
Value Add
Additional Details
Multifamily Units
260
Building Details
Buildings
11
Units
260
Listing Agency:
West Coast Commercial Realty
(206) 399-9375
Listed By:
baylor gordon · License #WA 103184
Source:
Crexi
Added: May 27
Changed: Aug 8
Last Checked: Jul 15 at 10:36PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of West Coast Commercial Realty
Investment Insights
Based on property information with market context.
This fully entitled, site plan approved multifamily development opportunity is designed for a 260-unit community on 8.6 acres. The development is planned to be completed in three phases, allowing the project to be delivered in stages. The approval status and phased design provide a clear framework for how the property can be built out.
The property is located at 5701 Shannon Avenue in Ferndale, WA 98248. While the offering materials note views, no additional specifics about topography, view orientation, or surrounding context are provided beyond that stated characteristic.
For developers and investors seeking a permitted path to build, the key takeaway is that entitlements and the site plan are already approved, with unit counts and a three-phase approach identified in the concept. Prospective buyers can evaluate the phased structure alongside their development timeline and design strategy, using the confirmed 260-unit target and the existing approvals as a starting point for next steps.
The property is located at 5701 Shannon Avenue in Ferndale, WA 98248. While the offering materials note views, no additional specifics about topography, view orientation, or surrounding context are provided beyond that stated characteristic.
For developers and investors seeking a permitted path to build, the key takeaway is that entitlements and the site plan are already approved, with unit counts and a three-phase approach identified in the concept. Prospective buyers can evaluate the phased structure alongside their development timeline and design strategy, using the confirmed 260-unit target and the existing approvals as a starting point for next steps.
Key Highlights
- Fully entitled multifamily development opportunity for 260 units
- Approved site plan for phased development on 8.6 acres
- Project can be developed in 3 phases
Property Analytics
Property Profile
Current Use
Lease Details
260
Residential units
Location Intelligence
Trade Area within ½ mile
101
Businesses Nearby
Explore this area
Business Placement
Demographics for 98248, WA
26,784
Population
10,576
Households
2.5
Avg Household Size
39
Median Age
31%
College-Educated
93%
High-School Grad
71.8 sq mi
ZIP Area
373
Density / Sq Mi
$88,566
Median Household Income
$50,059
Median Earnings
$1,455
Median Rent
$550,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Site plan approved for a phased multifamily project with 260 units and planned views.
Where is this apartment building located?
The property is located at 5701 Shannon Avenue Ferndale, WA.
What are key features of this property?
This property features: Fully entitled multifamily development opportunity for 260 units; Approved site plan for phased development on 8.6 acres; Project can be developed in 3 phases
