Rare Development Opportunity next to Future Light-Rail in the University of Washington Seattle area for 2240-300 Units with commercial Retail Space on Ground Floor. Projected Rents for the Apartments is $5/ft and $38/ft for commercial Zoning will allow the Following mix-use:
Student Housing, Apartments or condos. Hotel (Extended Stay)
Commercial Space: RETAIL
The value for this property is project to Triple within the next 5-7 years because of proximity to future Light-Rail, University of Washington, Downtown Seattle and Hospitals.
The property currently has existing assets with some income. 50% occupancy. The other two commercial units are left vacant to facilitate the sale. Other tenants are month-month
Joint Ventures are Welcome and Terms can be negotiated. We will also build to suit and manage if Buyer prefers.
Call or email for more information.
Asking Price $12,600,000
Sales Between $10,000,000 and $25,000,000
Profit Available On Request
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