4247 7Th Ave Seattle, WA 98105

This exceptional investment opportunity presents a fully leased, two-unit student housing duplex situated on a substantial 6,600 square foot lot in Seattle's vibrant University District. Currently generating a Net Operating Income (NOI) of $59,200, the property offers immediate cash flow with significant upside potential. The 2,796 square foot building, constructed in 1919 and renovated in 1940, boasts nine bedrooms across two stories. The property is zoned M1, allowing for mid-rise multifamily development with an 80-foot height limit, 4.5 FAR, and no parking requirements. A completed survey and geotechnical report are available, streamlining the development process. Located within walking distance of the University of Washington campus and the Light Rail, and with easy access to I-5, this property benefits from an unparalleled location in one of Seattle's most sought-after neighborhoods. The current lease is for one year, expiring August 31, 2025. The asking price is $2,250,000, making this a compelling investment for both seasoned developers and those seeking a strong rental income stream with future development possibilities. The property's King County APN is 4092300800. This is a 1031 exchange eligible property.