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    5721 35Th Ave Seattle, WA 98118

    For Sale
    $1,800,000

    88-Unit Potential, Prime Location

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional 1.8 million dollar land parcel in Seattle, WA, presents a unique multifamily development opportunity. Located at 5721 35th Avenue S, in the vibrant King County neighborhood of Seattle, this property is zoned MR, allowing for the construction of an 88-unit multifamily residential building. Early design guidance meetings have already been completed, streamlining the development process for the new owner. The site benefits from its strategic location at the intersection of Columbia City, Hillman City, and Beacon Hill, offering access to a diverse range of dining, shopping, and cultural experiences. This thriving community is known for its strong sense of community and inclusive environment. Furthermore, the property enjoys excellent transit connectivity, situated just two blocks from the new S Graham St Light Rail Station and conveniently located near a major bus line, ensuring easy access to downtown Seattle and other key areas. The potential for a Multi-Family Tax Exemption may also be available, offering significant financial advantages. This is a rare chance to acquire a well-positioned site with substantial development potential in one of Seattle's most desirable and rapidly growing neighborhoods. The property is ready for immediate development, making it an attractive investment for experienced developers seeking a high-return opportunity. The address is 5721 35th Avenue S, Seattle, WA 98118.

    Property Features for 5721 35Th Ave

    General Information

    Property type
    Land

    HighLights

    • $1,800,000 asking price.
    • Vacant land zoned for 88 multi‑family units.
    • Located in Seattle, WA, near Columbia City, Hillman City, and Beacon Hill neighborhoods.
    • Two blocks from the new S Graham St Light Rail Station and near major bus lines.
    • May qualify for a multi‑family tax exemption.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.28921
    Latitude
    47.5502619

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    FAQs

    What type of property is this?
    Land - 88-Unit Potential, Prime Location
    Where is this land located?
    The property is located at 5721 35Th Ave Seattle, WA.
    What is the asking price?
    The asking price for this property is $1,800,000.
    What are key features of this property?
    This property features: $1,800,000 asking price.; Vacant land zoned for 88 multi-family units.; Located in Seattle, WA, near Columbia City, Hillman City, and Beacon Hill neighborhoods.
    Request Owner's contact information
    5721 35Th Ave Seattle, WA 98118
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    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
    5721 35Th Ave Seattle, WA 98118
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