Unmatched Development Opportunity With Scenic Water Views

A Developer’s Dream: the subject site is in the heart of South Park and just a short drive to Georgetown, SODO, and Downtown Seattle. This level site of 15,182 square feet boasts one of the most generous zoning classifications in the entire City of Seattle - C1-55 (M), which allows outright use of all types of residential living up to five stories, including apartments, condominiums, townhomes and/or live/work units. Furthermore, no commercial space is required on the main floor. In terms of commercial uses, the following uses are also allowed outright: restaurants/bars, lodging accommodations, medical services, general offices, indoor sports/recreation, automotive services, marine services including dry boat storage, religious facilities, schools, child care, mini-warehouses, towing services and much more. With a maximum height of five stories, the site will have sweeping territorial and water views over the South Park Marina and Duwamish River. The site also has an aggressive FAR of 3.75 which translates into a maximum development size of 56,932 square feet (15,182 square feet x 3.75) of new construction. Currently, the house on the corner (1445 S. Cloverdale St.) sits on two lots totaling 6,182 square feet. In addition to this lot size are three adjacent lots that are each 3,000 square feet for another 9,000 square feet which brings the total size to 15,182 square feet. Finally,the seller possesses detailed architectural plans for eight townhomes planned for just the two lots where the rental house sits generated in 2018 and can be included in the sale.