Avalon Way Development site, a 12,240 square foot parcel located in the highly sought after West Seattle area blocks from the West Seattle Junction and West Seattle Golf Course. Within a half mile of the property are many restaurants, breweries, a bowling alley, Trader Joe’s, parks and a public 18 hole golf course. The current zoning of the parcel is (MR) which allows for 65’ height and is an ideal apartment location. Within a 3 mile radius there have been several new construction apartment projects completed over the past three years; the average unit is 698 square feet with rent levels at $1,664/month which is $2.38 per square foot. This site would command unprecedented views of downtown Seattle skyline, Puget sound and Mount Rainier.
• Raw land valued at $25,384 per unit (based on building 65 units).
• Easy access from the West Seattle Bridge via Interstate 5, Interstate 90, Highway 520 and SR 99, providing commuting options throughout the Puget Sound region.
• Property has territorial views of downtown Seattle, the Puget Sound and Mount Rainier.
• Urban Village Overlay which does not require any parking for multifamily development.
• Similar new construction projects are leasing quickly with a high demand in this submarket are expected to continue.
