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Listed by:Blake Investment Advisors • Gabe Blake
$ 1,075,000
Est. payment | /mo
5 Beds
5 Baths
4,000 Sqft Lot
$ 1,075,000
Est. payment | /mo
5 Beds
5 Baths
4,000 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Subdivision Woodland Park
MLS Listing ID 2503470
Style 55 - 5-9 Units
Bedrooms 5
Year Built 1911
Annual Tax Amount $10,952
Lot Size 4,000 Sqft
Property Sub-Type Multi Family
Property Description
TOWNHOUSE REDEVELOPMENT OPPORTUNITY NEAR FREMONT/WALLINGFORD/GREENLAKE | 4,000 SF LOT WITh LR2 (M) ZONING 807 N 49th St is located just blocks from the Woodland Park Zoo, this 4,000 square foot lot is zoned LR2 (M), a highly desirable zoning code for townhome and small-scale multifamily development. Historically, LR-zoned sites were subject to unit-count density caps that limited overall development potential. However, with the implementation of HB 1110 in June 2025, those constraints have been removed in favor of a building envelope driven by FAR, height, and setback standards, meaning the total buildable size is now the primary limitation rather than the number of units. This shift allows developers to increase unit count through more efficient design, creating a more compelling development opportunity for 4+ luxury townhomes (buyer to verify) with skyline views in one of Seattle's most sought-after neighborhoods. The existing structure on the site currently operates as a 5 Unit apartment building producing $50,311 in annual net operating income.
Location
State WA
County King
Area 705 - Ballard/Greenlake
Interior
Flooring Vinyl Plank
Fireplace false
Exterior
Exterior Feature Wood Products
View Y/N No
Roof Type Composition
Building
Sewer Sewer Connected
New Construction No
Schools
School District Seattle
Others
Senior Community No
Acceptable Financing Conventional
Listing Terms Conventional
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Nearby Locations
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