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ONE Real Estate

broker@1realty.com +1(360) 201-0908

Listed by:Premier Homes and Land • Karis W. Malagon

$ 999,999

Est. payment -/mo

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Active

917 28th AVE S Seattle, WA 98144

4 Beds

2 Baths

1,800 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 1,800 sqft

Price per Sqft $555

Subdivision Central Area

MLS Listing ID 2542473

Style 52 - Duplex

Bedrooms 4

Year Built 1977

Annual Tax Amount $7,873

Lot Size 4,500 Sqft

Lot Dimensions 37.5 X 120

Property Sub-Type Multi Family

Property Description

Please see Virtual Tour #1***THIS IS A PROPERTY BEING SOLD TO APARTMENT/CONDO DEVELOPERS***In Seattle's zoning code, for Lowrise 2 (LR2) with an M designation, there is a Mandatory Housing Affordability (MHA) overlay. This MHA program allows developers to achieve extra floor area (which can translate to more units) if they either provide affordable housing on-site or pay into the city's affordable housing fund. Thus, by complying with the MHA requirements, a developer can gain added capacity (height, floor area) and potentially increase the number of units. Specific limits depend on lot size and other code factors. In Seattle's LR2-M zone, the exact height and floor area increase from the M designation depending on the city's specific MHA tables. Typically, the M designation grants an extra 10 feet of height (e.g., from 40 feet to 50 feet). Floor area ratio (FAR) also increases—often by around 0.5 FAR. On a 4,500 sq ft lot, if the base FAR was, say, 1.2 (allowing 5,400 sq ft of building), an M increase to 1.7 FAR could allow about 7,650 sq ft total. Always confirm with the current city tables, as specifics can vary. This is a guestimate from the Broker and everything needs to be verified Property built before 1978 thus we are warning of Lead Paint (see disclosure phamplet in supplements) IF YOU ARE PLANNING TO DEVELOPE THIS SITE YOU WILL RENTAL INCOME WITH A LITTLE WORK TO SUPPLEMENT THE DEVELOPEMENT COSTS.

Location

State WA

County King

Area 390 - Central Seattle

Interior

Flooring Hardwood, Vinyl, Carpet

Fireplace false

Exterior

Exterior Feature Cement/Concrete, Metal/Vinyl

Garage Spaces 1.0

Amenities Available Cable TV, Fenced-Partially, Gas Available, High Speed Internet, Patio

View Y/N No

Roof Type Composition

Building

Lot Description Paved, Sidewalk, Value In Land

Sewer Sewer Connected

Water Public

New Construction No

Schools

Elementary Schools Leschi

Middle Schools Meany Mid

High Schools Garfield High

School District Seattle

Others

Senior Community No

Acceptable Financing Cash

Listing Terms Cash

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"Three Trees" icon indicates a listing provided courtesy of NWMLS.

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ONE Real Estate

Broker

+1(360) 201-0908

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