Westlake Development Site: two contiguous parcels at 1722 and 1726 Dexter Ave N, offered together. Each lot is 4,800 SF, for a combined 9,600 SF site zoned LR3(M). LR3(M) zoning and a floor area ratio of 1.8 support approximately 17,280 gross SF of development. Nearby lowrise sites of similar size and zoning have been developed as townhouse projects. Each lot is improved with a 1918 wood frame single family house (2 bed, 1 bath), both rented month to month, producing $4,600 per month in combined scheduled rent. Tenants pay their own utilities. Month to month tenancies let a buyer control the timing of delivery. Off-street driveway parking and in-unit laundry. The site sits on the east facing slope above Lake Union, giving upper floors of a new building water and territorial views, with Lake Union Park and the Westlake waterfront directly below. Dexter Ave N carries a protected bike lane and frequent bus service to downtown, South Lake Union and Fremont. Seller is open to developer term
This listing is provided courtesy of NWMLS, contributed by Paragon Real Estate Advisors.
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