5222 Delridge Way Seattle, WA 98106
- Commercial real estate
Current Use by Public Records
- Commercial real estate
Property Details for 5222 Delridge Way
- Property type
- Commercial real estate
Description
This exceptional investment opportunity presents a prime development site in Seattle's desirable West Seattle neighborhood. The property encompasses five contiguous parcels totaling over 23,000 square feet of flat, developable land along Delridge Way SW, zip code 98106, in King County, WA. Currently featuring a mix of five buildings containing 64 multifamily units, this property offers significant upside potential. The existing structures provide immediate cash flow, while the NC2P55 zoning allows for redevelopment options to maximize returns. With a total asking price of $4,500,000, this translates to a price per unit of $70,312.50 and a cap rate of 1.10%. The property's location provides easy access to major transportation routes and amenities. The flat land presents a significant advantage for development, minimizing site preparation costs. This is a rare chance to acquire a substantial multifamily portfolio in a high-demand area, offering both immediate income and long-term growth potential. The existing buildings, while offering current income, also present an opportunity for renovation and increased rental income. Investors and developers alike will find this property to be a compelling investment opportunity in a thriving Seattle market. The addresses included are 5222, 5226, 5230, 5232, and 5236 Delridge Way SW.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Seattle
- County
- King
- State
- Washington
- Longitude
- -122.362693
- Latitude
- 47.5543073
