Bought with Best Choice Realty LLC
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Key Details
Sold Price $3,500,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 12,182 sqft
Price per Sqft $287
Subdivision University District
MLS Listing ID 1872358
Sold Date 02/14/23
Style 56 - 10+ Units
Year Built 1958
Annual Tax Amount $42,301
Lot Size 4,120 Sqft
Lot Dimensions 40 x 103
Property Description
Unique investment/redevelopment opportunity in prime University District location revitalized by new light rail 2 blocks away. Striking 12000 SF mid-century mixed-use building on “the Ave” by architect Samuel Morrison comprises 18 vintage open 1BR apartments and 3500 SF boutique retail space, once home of Academy of Classical Ballet, run by Irene Larson of NY City Ballet, and of Jun Fan Gung Fu Institute, martial arts school of fighter, teacher and philosopher Bruce Lee. Recapitalize and renovate the property for cash flow in thriving sub-market with focused, high demand renter base or develop in accordance with N3P-65 (M1) zoning. Steps from new mixed-use Safeway valued at $90M & adjacent 24-story M Tower, both by LA-based Fields Holdings.
Location
State WA
County King
Area 710 - North Seattle
Interior
Fireplace No
Exterior
Exterior Feature Brick, Cement/Concrete, Metal/Vinyl, Stone
Amenities Available Cable TV, Fenced-Partially, Gas Available, Patio, Sprinkler System
Waterfront No
View Y/N Yes
View Territorial
Roof Type Flat,Torch Down
Building
Lot Description Alley, Curbs, Paved, Sidewalk
Sewer Sewer Connected
Water Public
New Construction No
Schools
Elementary Schools Green Lake
Middle Schools Hamilton 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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