417 Minor Ave Seattle, WA 98109
- Commercial real estate
- 4,107 SF
Current Use by Public Records
- Commercial real estate
Property Details for 417 Minor Ave
- Property size
- 4,107 SF
- Property type
- Commercial real estate
- APN
- 2467400155
Description
This exceptional investment opportunity presents a 4-unit apartment building situated on a 3,600 square foot lot in Seattle's desirable South Lake Union neighborhood. The property, located at 417 Minor Ave N, boasts a total of 4,107 square feet and is classified as a Class B multifamily building. Currently configured as a 2 ½-story building over a full basement, it features 5 on-site surface parking stalls and on-site storage. The asking price is $1,490,000, translating to $362.80 per square foot and $372,500 per unit. The property's SM-SLU/R65/95 zoning allows for a variety of uses, including residential, office, and retail. This presents a unique value-add opportunity for investors and developers. Potential uses include retaining the existing 4-plex and adding up to 3 townhomes, redeveloping the site with 6 townhomes, or creating a larger multifamily project. The existing short-term leases provide flexibility for implementing a redevelopment plan. The property's location in the thriving South Lake Union tech sector offers significant long-term growth potential. The King County Assessor's Parcel Number (APN) is 2467400155. This is a rare chance to acquire a development parcel in a highly sought-after area of Seattle.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Seattle
- County
- King
- State
- Washington
- Longitude
- -122.3332835
- Latitude
- 47.6225139
