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Listed by:Windermere Real Estate/CIR • Kevin Flynn
$ 999,000
Est. payment | /mo
10,141 Sqft Lot
$ 999,000
Est. payment | /mo
10,141 Sqft Lot
Open House
Sat May 09, 12:00pm - 3:00pm
Key Details
Property Type Vacant Land
Sub Type Land
Listing Status Active
Purchase Type For Sale
Subdivision Ridgecrest
MLS Listing ID 2517445
Style 40 - Res-Less thn 1 Ac
Annual Tax Amount $1,688
Lot Size 10,141 Sqft
Lot Dimensions 60x 168
Property Sub-Type Land
Property Description
Prime investment opportunity in Shoreline with highly sought-after MUR70 (7 stories) zoning with city incentives for an affordable housing development. Located in the heart of Shoreline and a few blocks from the new light-rail station, I-5, Hamlin Park, Jackson Park golf course and Shoreline High School makes this a centralized and optimal location. The large lot size offers strong future investment potential, while the existing move-in ready home provides flexibility for investors to rent out or a primary home for owners who can secure land value for future developers to pursue. Current home is situated on a well-maintained landscaped lot and offers 3 bedrooms, 2 bathrooms and approx 1,360 square feet. Rare versatile four car detached garage in the back offers options for storage, shop or home office. Large lot size offers future potential to sell to developers for significant value and a great return on investment. Recent developer assemblage quotes of $135-140 per land square foot, this lot is 10,141 sq ft giving a potential 30-40% future return. A unique and intriguing investment opportunity that doesn't come around often. Multiple neighboring homes have an option to be grouped in a developer assemblage for future purchase. Buyer to verify all to their satisfaction. All showings to be scheduled by a licensed real estate agent, please don't disturb the owner.
Location
State WA
County King
Area 720 - Lake Forest Park
Interior
Fireplace false
Exterior
Utilities Available Electricity Connected, Natural Gas Available
View Y/N No
Garage Yes
Building
Lot Description Paved
Sewer On Property
Water On Property
Schools
School District Shoreline
Others
Senior Community No
Acceptable Financing Cash
Listing Terms Cash
"Three Trees" icon indicates a listing provided courtesy of NWMLS.
Nearby Locations
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Nader Nessim
REALTOR® | Lic# 116020