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About the Listing 2821 - 94245
ATTN Developers, Builders, & Investors! An exceptional, high-density development opp a/w in Lake City urban corridor. Offer for the first time, 7818 & 7822 Lake City Way combined, 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, provides a clear, predictable pathway to construct. a 6-story bldg. Prelim Feasibility highlights an ideal yield of up to 42 RES units (suited for studios/1-bdrm) ground-floor commercial use. Take advantage of Seattle’s 4-foot gnd-fl height bonus to max. ceiling & views, utilizing UG parking entry. Strong local rental demand, prime eligibility for Seattle's 12 year Multi-family 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 sub-market with excellent financial metrics leveraging Seattle's 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 rental cash flow during the architectural and permitting phases.
Listing Highlights
Interior Details
- Bedrooms: 3
- Bathrooms: 2 Full
- Appliances: Dishwasher, Disposal, Dryer, Refrigerator, Stove(s)/Range(s), Washer, Dishwasher(s), Dryer(s), Garbage Disposal, Refrigerator(s), Washer(s)
- Air Cond: Forced Air
- Heating: Baseboard
- Fireplaces: 1, Gas,1 Fireplace
- Floor: Hardwood
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement: Finished
- Other: Dining Room,Fireplace,French Doors,Water Heater,Master on Main
- Water: SPU
Exterior Details
- Lot Description: Alley,Paved,Sidewalk,Built On Lot,Fenced-Fully,Gated Entry
- Garage Capacity: N/A
- Parking Spaces: 180
- Lot Dimensions: 4478
- Roof: Composition
- Others: Cement/Concrete,Average
- Sewer: SPU
- Parking Features: Detached Garage
Financial Details
- Tax Amount: $11,037
- Taxes w/Assessments: N/A
- Tax/Property ID: 2979800225
- Tax Year: 2026
Payment Calculator
Monthly Payment
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Questions About..
7818 NE Lake City Way NE Seattle, WA 98115
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