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Brett Bonner

brettbonner@brettbonner.com +1(253) 606-0578

Listed by:Blake Investment Advisors • Gabe Blake

$ 925,000

Est. payment | -/mo

5 Beds

5 Baths

4,000 Sqft Lot

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$ 925,000

Est. payment | -/mo

Save

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

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

Nearby Locations

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Brett Bonner

MANAGING BROKER/REALTOR® | Lic# 27156

brettbonner@brettbonner.com

+1(253) 606-0578

111 Tumwater Blvd. Southeast Unit A 109, Tumwater, WA, 98501, USA

807 N 49th ST Seattle, WA 98103

Brett Bonner

Key Details

Location

Interior

Exterior

Building

Schools

Others

807 N 49th ST