Monday, January 18, 2016

Value in the Land

Today's blog will focus on two off-market properties, both in southeast Seattle. Both are teardown properties, with primary value in the land. The first, pictured here, is a tear-down house located on S Juneau Street, vacant and neglected. It is blocks to Seward Park, but not far off Rainier Ave S.

It is located on a subdividable residential parcel in the Brighton/Seward Park neighborhood of Seattle (7500sf in a 5000sf residential zone). The owner would like $300,000 for the property. It's tax-assessed value is $285,000. The owner lives in Spokane, and the property has been vacant since September.

The other parcel is located on Rainier Avenue South, right across from the business district between S Charlestown and S Andover Streets. It is a small 560sf 2-bedroom, one-bath house originally built in 1926. It is zoned NC2-40, but the lot itself is only 2580sf. The seller owns this parcel free and clear of any underlying mortgage. It is tax-assessed at $168,000.

It may be possible to actually do a larger development, if the investor were able to buy one of the adjacent properties.

Please message me privately at, if you are interested in more details on either of these two properties.

Happy Investing!

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