7818 NE Lake City Way NE, Seattle, WA 98115
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7818 NE Lake City Way NE, Seattle, WA 98115
7818 NE Lake City Way NE, Seattle, WA 98115
7818 NE Lake City Way NE, Seattle, WA 98115
7818 NE Lake City Way NE, Seattle, WA 98115
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Carrie Struss

Carrie Struss

+1(503) 953-0850
Listed by:Kelly Right RE of Seattle LLC • Diane Li
$ 840,000
Est. payment /mo
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Active

7818 NE Lake City Way NE Seattle, WA 98115

3 Beds

2 Baths

1,920 SqFt

UPDATED:

Key Details

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Active

Purchase Type For Sale

Square Footage 1,920 sqft

Price per Sqft $437

Subdivision Ravenna

MLS Listing ID 2514400

Style 15 - Multi Level

Bedrooms 3

Full Baths 2

Year Built 1925

Annual Tax Amount $11,036

Lot Size 4,478 Sqft

Lot Dimensions 4478

Property Sub-Type Single Family Residence

Property Description

ATTN Developers, Builders, & Investors! An exceptional, high-density dev. opp a/w in Lake City urb corridor. Offr for the first time, together (7818 & 7822 Lake City Way), near-level ~9,000 SF footprint primed for a mid-rise, mixed-use project. Featuring robust C1-55 zoning w/ an allowable 3.75 FAR, prov. a clear, pred. pathway to constr. a 6-story bldg. Prelim FS highlights an ideal yield of up to 42 RES units (suited for studios/1-bdrm) gnd-fl coml use. Seattle's 4-foot gnd-fl height bonus to max. ceiling & views, utilizing UG parking entry. Strong local rental demand, prime eligibility for Seattles 12 year Multifam Tax Exemption (MFTE) program to max. your post-stabilization yields. while you clear your master use permits (MUP). Buyer to verify all feasibility and zoning constraints to their satisfaction. Total Lot Size: Approx. 9,000 SF (Combined dual-parcel assemblage) Zoning: C1-55 (Commercial 1, 55' base height limit) Development Capacity: Up to 33,750 gross buildable SF under a 3.75 FAR Pro-Forma Optimization: High-velocity rental submarket with excellent financial metrics leveraging Seattles 12-year MFTE property tax exemption.6-story building featuring ground-floor commercial retail and 5 levels of multifamily housing (up to 42 units). Covered Land Play: Existing residential structures offer immediate holding cash flow during the architectural and permitting phases.

Location

State WA

County King

Area 710 - North Seattle

Rooms

Basement Finished

Main Level Bedrooms 2

Interior

Interior Features Dining Room, Fireplace, French Doors, Water Heater

Flooring Hardwood

Fireplaces Number 1

Fireplaces Type Gas

Fireplace true

Appliance Dishwasher, Disposal, Dryer, Refrigerator, Stove(s)/Range(s), Washer

Exterior

Exterior Feature Cement/Concrete

Amenities Available Fenced-Fully, Gated Entry

View Y/N Yes

View Territorial

Roof Type Composition

Garage Yes

Building

Lot Description Alley, Paved, Sidewalk

Story Multi/Split

Sewer Available

Water Community

Architectural Style Traditional

New Construction No

Schools

Elementary Schools Green Lake

Middle Schools Eckstein Mid

High Schools Roosevelt High

School District Seattle

Others

Senior Community No

Acceptable Financing Cash

Listing Terms Cash

Northwest MLS (NWMLS)
"Three Trees" icon indicates a listing provided courtesy of NWMLS.

Nearby Locations

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7818 NE Lake City Way NE