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325 4th Ave
Kirkland, WA 98033
Kirkland Central · Multifamily Property For Sale
·
6 Units
INVESTMENT HIGHLIGHTS
- Prime Location: Steps to Google, Lake Washington, Peter Kirk Park & Kirkland Urban.
- Strong Exit Value Potential: Recent townhomes in Kirkland listing for ~$2-$2.6M+ for 2,700-3,100 SF
- Design Flexibility: PLA 7B zoning enables large luxury townhomes (~2,000-2,700 SF) or higher unit count with smaller footprints.
- Density/Land Upside: Up to 24 units/acre under high-density residential zoning.
EXECUTIVE SUMMARY
Cushman & Wakefield, as exclusive advisor is pleased to present Kirkland Central—a rare opportunity to acquire a stabilized multifamily investment or redevelopment site in the heart of Downtown Kirkland. Located at 325 4th Avenue, the ±8,700 SF, 6 unit-property sits on a ±15,015 SF parcel zoned PLA 7B. Conceptual massing studies support redevelopment into 8-10 luxury townhomes or condos with garages, designed to meet growing demand for high-end residential living in one of the Eastside’s most desirable neighborhoods.
Situated on a quiet residential block just one block from Central Way and minutes from Lake Washington, the site combines neighborhood charm with proximity to walkable amenities, Bus Rapid Transit at SR-405/NE 85th, and major employers like Google and Microsoft.
The property is a renovated 6-unit townhouse apartment building operating as a rental, with an effective year of 2005. Each unit includes two parking stalls, in-unit washer/dryer, and updated interiors. The projected 2026 pro forma NOI is approximately $207,000, with potential to reach $259,000 through minor upgrades.
Zoned PLA-7B, the ±15,015 SF site supports redevelopment. Preliminary massing studies indicate feasibility for an 8–10 unit, 3–4 story townhome or condo project, featuring 2,000–2,700 SF units, each with a private entry, two-car garage, and rooftop deck. Designs comply with Kirkland’s zoning standards, including 60% lot coverage and a 35’ height limit.
Situated on a quiet residential block just one block from Central Way and minutes from Lake Washington, the site combines neighborhood charm with proximity to walkable amenities, Bus Rapid Transit at SR-405/NE 85th, and major employers like Google and Microsoft.
The property is a renovated 6-unit townhouse apartment building operating as a rental, with an effective year of 2005. Each unit includes two parking stalls, in-unit washer/dryer, and updated interiors. The projected 2026 pro forma NOI is approximately $207,000, with potential to reach $259,000 through minor upgrades.
Zoned PLA-7B, the ±15,015 SF site supports redevelopment. Preliminary massing studies indicate feasibility for an 8–10 unit, 3–4 story townhome or condo project, featuring 2,000–2,700 SF units, each with a private entry, two-car garage, and rooftop deck. Designs comply with Kirkland’s zoning standards, including 60% lot coverage and a 35’ height limit.
PROPERTY FACTS
| Sale Type | Investment | Building Class | C |
| Sale Condition | Redevelopment Project | Lot Size | 0.34 AC |
| No. Units | 6 | Building Size | 8,700 SF |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1988/2005 |
| Apartment Style | Townhome | ||
| Zoning | PLA 7B | ||
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 8,700 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1988/2005 |
| Zoning | PLA 7B |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 6 | - | - |
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