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Listings/Greenwood Townhome Development Site

Greenwood Townhome Development Site

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Sold $1,425,000

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Site Details

Address

307 N 138th St, Seattle

Neighborhood

Bitter Lake

Street Exposure

70 ft along N 138th St

Parcel Number

017300-0061

Site Size

9,315 Sqft

Zoning

LR2 (M)

Development Details

Architect

Novion Group

Project Name

Greenwood Townhomes

Net Rentable SF

10,547

No. of Units

8 Townhome Units

Avg. Unit Size

1,479

Parking

8 Stalls

Opportunity

Ready to Build

MUP expected to be issued in November 2021

Construction Permits expected to be issued in December 2021

TRAO License Issued

Thoughtful Design

Simple & cost-effective construction

Efficient unit and bedroom layouts

Roof top decks and parking for each unit

Existing Asset

Great opportunity to Owner Occupy

Large units with plenty of parking

Opportunity to renovate units and raise rents

Location

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sold

Greenwood Townhome Development Site

307 N 138th St.
Seattle, WA 98133
Units: 8
Price: $1,425,000

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Location Overview

On the outskirts of what were once exclusively considered prime Seattle neighborhoods, North Seattle saw a rapid ascension as a desirable investment market after 2012.

BITTER LAKE & BROADVIEW

In addition to private multifamily development, the City identified Greenwood Ave as a key area for growth and investment. The Greenwood Town Center was recently rezoned to development- friendly zoning with increased height limits. The rezone will encourage future development and investment in the neighborhood, providing residents with additional amenities and making the area more pedestrian friendly.

The Greenwood Townhome Development Site is located only a couple of minutes from this activity, providing the right balance of convenience and livability. As the area’s commercial attractions and community amenities continue to grow, future residents will have, endless opportunities to shop, play, eat, and thrive.

Amidst the neighborhood’s exciting growth, Greenwood’s authentic Seattle spirit shines through. As the local chamber of commerce proudly proclaims, the neighborhood is “Just a little off center.” Within a few blocks of the site are numerous cafes and restaurants lining Greenwood Avenue N, and nearby parks such as Bitter Lake playfield and Sandel Park provide sunny green space for community gardens and playgrounds.