This rare nine-lot assemblage presents a significant multifamily development opportunity in a highly desirable transit-oriented location. The combined parcels total approximately 100,190 square feet and are zoned RM3, allowing for substantial residential density and long-term upside potential. Under current zoning, the site supports development of approximately 100 market-rate units. By… Read More utilizing the 3:1 FAR base ratio and taking advantage of available density bonuses for affordable housing, the development potential increases dramatically to a higher number of units. Qualifying projects may also benefit from no minimum parking requirements, providing greater flexibility in site planning and improved project efficiency. The property is ideally situated with excellent access to light rail, multiple bus lines, parks, shopping, and restaurants. This strong connectivity enhances long-term rental demand and positions the site well for both market-rate and affordable housing development. In addition to its development potential, the property currently generates rental income, helping offset holding costs while development plans, entitlements, and permitting are pursued. This income component provides strategic flexibility during the planning phase. Opportunities of this scale, density, and transit accessibility are increasingly rare. This assemblage offers a compelling combination of current income, zoning flexibility, and substantial future development capacity in a growing corridor. Buyer to perform their own due diligence regarding development capacity, FAR bonuses, affordable housing incentives, and all zoning requirements. Read Less
Listing courtesy of Great Western Real Estate Co.
Listing Snapshot
Days Online
45
Last Updated
Property Type
MultiFamily
Lot Size
2.3 Acres
MLS Number
508452690
30 Days Snapshot Of 97216
$390k
-2%
(avg) sold price
14
+75%
homes sold
42
+110%
(avg) days on market
Snapshot
Area Map
Additional Details
Property Access
Road Surface Type: Paved
Building
Current Use: Residential, Other Structures: Residence
Disclosures
Disclosures: Disclosure
Lot
Features: LightRail, Number Of Lots: 9, Size Acres: 2.3, Size Dimensions: 100,190 SF, Size Range: Acres1to3, Size Square Feet: 100,188, Size: 1 to 2.99 Acres
Property
Land Description: Level, Property Sub Type: MultiFamily, Soil Condition: Native, Zoning: RM3
All information provided is deemed reliable but is not guaranteed and should be independently verified.
This content last updated on . Some properties which appear for sale on this web site may subsequently have sold or may no longer be available. This content last updated on . Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
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