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Property summary
This exceptional 17,125 square foot development site in Seattle's University District presents a compelling value-add opportunity. Currently housing an 18-unit, three-story apartment complex, the property is zoned MR (M1) and offers significant redevelopment potential. Plans allow for the construction of a new 132-unit multifamily building featuring a mix of studio, one-, and two-bedroom apartments. The site's prime location, just blocks from the University of Washington and the U-District… Light Rail Station, ensures strong rental demand. Easy access to Interstates 5 and 520 provides convenient commutes to major employers like Amazon and Google. With a projected cap rate of 5.46% and a pro-forma NOI of $2,249,925, this property offers a strong return on investment. The land value is priced competitively at $465 per square foot, making it an attractive addition to any investment portfolio. The existing building provides immediate cash flow while redevelopment plans are underway. The University District's vibrant atmosphere and consistent population growth further enhance the property's long-term value. This is a rare opportunity to capitalize on the thriving Seattle real estate market and the significant demand for housing near the University of Washington. The asking price is $7,950,000.
Ownership intelligence
Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.
Owner contacts
Skip-traced phones and e-mails of the owner. Included with the full report.
Debts
Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.
Property tax · 2022
Value estimate
· Oct 2026Realmo valuation models over county records.
Recently sold
Cap rate analysis
No income signal is modeled for this parcel yet — the Cap Rates tab runs the workflow.
Zoning insight
Location intelligence
Demand index: how under-served this business type is around this point — modeled from the LocInt grid (area demand vs. what already operates, adjusted by real visit traffic). Higher means stronger unmet demand.
Location
Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.
Comparables
6 recorded sales · 18 properties nearbyComparable nearby
Similar in This City for Sale
Similar in This City for Lease
Instant AI valuation built from comps, income signals, and proprietary benchmarks.A defensible range, not a single guess.
from $199/month
- Lot area
- 0.11 ac
- APN
- 409230-1744
- Zoning
- MR (M1)
- Assessed value · 2022
- $2,000,000
- Annual tax · 2022
- $35,763
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $199/month
Price sensitivity
The rate is the decision lever; valuation is the consequence.
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Registration is required before the official district profile is shown.
Official district profile
This district promotes multi family uses in mid rise or high rise providing concentrations of housing in desirable, pedestrian oriented urban neighborhoods having convenient access to regional transit stations, where the…
Unlock the evidence behind ownership: portfolio, transactions, debt and any signals we can model, to help you decide who to contact next.
Registration is required before any owner information is shown.
The mortgage data is behind the paid report: recorded loans of the owner - lender, amount, rate and the estimated maturity - as part of the Ownership Intelligence workspace.
Registration is required before any owner information is shown.
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- Signals, scores & lead lists
- 300 owner contacts a month
- 30 full reports a month
- Ownership
- Owner Contacts
- Location Analytics
- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Location Insight
- Alternative use
- Local Zoning Insight
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- Signals, scores & lead lists
- 1500 owner contacts a month
- 150 full reports a month
- Ownership
- Owner Contacts
- Location Analytics
- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Location Insight
- Alternative use
- Local Zoning Insight
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