Bought with COMPASS
$2,900,000
$2,998,000
3.3%For more information regarding the value of a property, please contact us for a free consultation.
10,800 Sqft Lot
SOLD DATE : 06/09/2025
Key Details
Sold Price $2,900,000
Property Type Vacant Land
Sub Type Land
Listing Status Sold
Purchase Type For Sale
Subdivision Queen Anne
MLS Listing ID 2330975
Sold Date 06/09/25
Style 42 - Multi-Family
Annual Tax Amount $31,454
Lot Size 10,800 Sqft
Property Sub-Type Land
Property Description
Located in Queen Anne, Dravus Court is 2 blocks from SPU, walking distance from Fremont's core, & boasts an easy commute to SLU & Downtown with their employment/entertainment offerings. The 10,800-SF lot is zoned LR3 (M) and is offered at $278/ft. The potential likely exists to redevelop the land into townhomes or a multifamily property. Current improvements- 16 1-bed units in 2 adjacent buildings – will allow a new owner to earn cash flow while planning and permitting a new development. Property is currently operated as a short-term-stay asset with furnished units primarily focused on renting to traveling nurses & corporate transferees. A new owner can step into current operations or convert to a standard Apts operations model.
Location
State WA
County King
Area 700 - Queen Anne/Magnolia
Interior
Fireplace false
Exterior
Utilities Available Electricity Connected, Natural Gas Available
View Y/N No
Building
Lot Description Alley, Curbs, Paved, Sidewalk
Sewer On Property
Water On Property
Schools
Elementary Schools Buyer To Verify
Middle Schools Mc Clure Mid
High Schools Lincoln High
School District Seattle
Others
Senior Community No
Acceptable Financing Cash Out, Conventional
Listing Terms Cash Out, Conventional
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