Multifamily Property for Sale in Seattle, WA

  • Price: $1.4M
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Seattle, WA 98107

Description

Builder/Investor/Developer Alert! Exceptional opportunity for a fully entitled, permits PAID, multifamily development in one of Seattle’s most desirable rental submarkets. Ballard Urban Village approved 26-unit apartment zoned LR2 (M1). benefits from ZERO parking requirements, delivering cost savings/improved project feasibility. Approved plans for a 4-story plus basement, Type V-A construction building featuring an efficient micro-unit / SEDU program optimized for strong rent-per-square-foot performance. Unit sizes range approximately 225–330 square feet, each designed to meet or exceed Seattle code requirements for habitable space and storage. Includes indoor bike storage, shared outdoor amenity space, and thoughtfully integrated landscaping. Design Review and all SDCI permit corrections have been completed, with construction documents approved ready to issue. MHA requirements have been satisfied NO MHA FEE The architectural design features articulated façades, projecting bay windows, durable exterior materials, and residential-scaled massing that integrates seamlessly with the surrounding neighborhood. Situated near transit, major employment centers, restaurants, retail, and everyday amenities, this offering presents a rare opportunity for developers/investors seeking a shovel-ready, low-entitlement-risk apartment project in a high-demand Ballard location. All plans, approvals, and due diligence materials available upon request. Use ShowingTime for all appointments, immediately approved. Contact friendly LA for all questions. Buyer to verify all information to their own satisfaction. See uploaded docs in supplements. Permits issued and paid for. Plans available upon request. All utilities available. list price includes the permitted plans for the building. https://drive.google.com/drive/folders/1qaAo_NNZiqaVIhbIWKEvufpCGsTuoahL?usp=share_link Land Size: 5000.0 SF | Listing Type: FOR SALE

Market Context

This multifamily in Seattle, WA is listed for sale at $1,400,000. It has been on the market for 23 days. Compare it against other multifamily listings for sale in Seattle, WA — <a href="/search/sale/multifamily/washington/seattle">view the full market</a>.

As of Q1 2026, the Seattle / Bellevue multifamily market showed a 7.3% vacancy rate, and cap rates around 5.5%. Source: Consensus Q1 2026 market report.

Multifamily market FAQ

What is the typical cap rate for multifamily in Seattle / Bellevue?
About 5.5% as of Q1 2026, per Consensus.
Is the Seattle / Bellevue multifamily market tightening or softening?
Vacancy is around 7.3% (Q1 2026).

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