4750 University Way NE Seattle, WA 98105

Pending (365 Days)

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.

MLS #:
1872358

Taxes
$42,301(2021)

Lot Size
4,120 SQFT

Type
Multifamily

Building Name
University Heights Add

Year Built
1958

Style
10+ Units

Views
Territorial

School District
Seattle

County
King County

Community
University District

Bathroom Details

Subdivision

University District

Lot Information

Sidewalk
Paved
Curbs
Alley

Property Features

Sprinkler System
Patio
Gas Available
Fenced-Partially
Cable Tv

Heating and Cooling

Wall
Baseboard

Exterior Features

Stone
Metal/Vinyl
Cement/Concrete
Brick
Roof: Torch Down
Roof: Flat

Utility Information

Sewer: Sewer Connected
Fuel: Electric
Energy: Green Efficiency: Thermal Windows

School Information

Elementary School: Green Lake
Middle School: Hamilton Mid
High School: Lincoln High

Additional Listing Info

Selling Office Commission: 2.5%

Location

Map View | Street View

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Estimated Monthly Mortgage Payment

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Disclaimer: Based on information submitted to the MLS GRID as of 2023 1/29/23 20:09. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.