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12524 Addison St SW - Addison St Lot • Résidentiel • 0,46 Acres • 1 198 417 $ CAD • Lakewood, WA 98499
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Faits saillants de l'investissement
- $35k/Door Development Land Priced at a competitive $35,000 per unit based on a high-density 25-unit multifamily concept.
- 2-Yr MFTE Eligible Confirmed eligibility for a 12-year tax exemption in a target area.
- 20 in/hr Drainage Native glacial gravel allows for low-cost drywells vs. expensive vaults.
- $3.7k Carry Income Current tenant-occupied buildings offset costs during permitting.
Résumé de l'annonce
OPPORTUNITY OVERVIEW
The Daud Apartments project represents a partially de-risked 25-unit multifamily infill development in the high-growth Lakewood market. Located within a Residential Target Area, this site is not just raw land; it is a developer-ready asset with substantial pre-development soft costs already completed.
FINANCIAL HIGHLIGHTS
Price Per Door: $35,000 based on a 25-unit concept.
Tax Incentive: Eligibility for 12-year Multi-Family Tax Exemption (MFTE) confirmed by the City of Lakewood.
Carry Income: Site currently contains two tenant-occupied buildings generating ~$3,700/mo in interim income to offset permitting carry costs.
THE DRAINAGE DIVIDEND
A primary value-add for this site is the superior soil profile. A 2021 Geotechnical Investigation confirms the site sits on Continental Glacial Outwash with a design infiltration rate of 20.0 inches per hour.
Infrastructure Savings: This allows for the use of low-cost in-ground drywells or infiltration galleries instead of expensive concrete detention vaults, potentially saving $250k+ in hard costs.
COMPLETED DUE DILIGENCE (Included in Sale)
Nick has invested heavily in pre-development to save the next builder 6+ months of lead time:
Civil Engineering: Preliminary site plans, grading, drainage, and utility layouts.
Mechanical (HVAC): Full design for a high-efficiency Mitsubishi VRF system with ERV units.
Electrical: Full demand load calculations and unit riser diagrams.
Topographic Survey: Updated and ready for final civil integration.
Architecture: Infill concept featuring studios, 1-beds, and mezzanine units designed to 2021 WA State Energy Codes.
ZONING & SITE SPECS
Zoning: MF3 (High-Density Multifamily).
Parcel Size: ~0.47 Acres.
Location: 12524 Addison St SW. Immediate access to I-5, JBLM, and regional transit corridors.
CONCLUSION
This project is positioned for a developer looking to hit a 15% targeted profit margin while significantly reducing typical pre-construction risks. Full due diligence package available for review upon request.
Owner is a licensed real estate broker in the State of Washington and is the co-listing agent. A walk-by video is coming in the next couple days.
The Daud Apartments project represents a partially de-risked 25-unit multifamily infill development in the high-growth Lakewood market. Located within a Residential Target Area, this site is not just raw land; it is a developer-ready asset with substantial pre-development soft costs already completed.
FINANCIAL HIGHLIGHTS
Price Per Door: $35,000 based on a 25-unit concept.
Tax Incentive: Eligibility for 12-year Multi-Family Tax Exemption (MFTE) confirmed by the City of Lakewood.
Carry Income: Site currently contains two tenant-occupied buildings generating ~$3,700/mo in interim income to offset permitting carry costs.
THE DRAINAGE DIVIDEND
A primary value-add for this site is the superior soil profile. A 2021 Geotechnical Investigation confirms the site sits on Continental Glacial Outwash with a design infiltration rate of 20.0 inches per hour.
Infrastructure Savings: This allows for the use of low-cost in-ground drywells or infiltration galleries instead of expensive concrete detention vaults, potentially saving $250k+ in hard costs.
COMPLETED DUE DILIGENCE (Included in Sale)
Nick has invested heavily in pre-development to save the next builder 6+ months of lead time:
Civil Engineering: Preliminary site plans, grading, drainage, and utility layouts.
Mechanical (HVAC): Full design for a high-efficiency Mitsubishi VRF system with ERV units.
Electrical: Full demand load calculations and unit riser diagrams.
Topographic Survey: Updated and ready for final civil integration.
Architecture: Infill concept featuring studios, 1-beds, and mezzanine units designed to 2021 WA State Energy Codes.
ZONING & SITE SPECS
Zoning: MF3 (High-Density Multifamily).
Parcel Size: ~0.47 Acres.
Location: 12524 Addison St SW. Immediate access to I-5, JBLM, and regional transit corridors.
CONCLUSION
This project is positioned for a developer looking to hit a 15% targeted profit margin while significantly reducing typical pre-construction risks. Full due diligence package available for review upon request.
Owner is a licensed real estate broker in the State of Washington and is the co-listing agent. A walk-by video is coming in the next couple days.
Faits sur la propriété
1 Lot disponible
Lot
| Prix | 1 198 417 $ CAD | Taille du lot | 0,46 AC |
| Prix par AC | 2 605 255,37 $ CAD |
| Prix | 1 198 417 $ CAD |
| Prix par AC | 2 605 255,37 $ CAD |
| Taille du lot | 0,46 AC |
25-Unit Multifamily Development Opportunity. MF3 Zoning. De-risked asset w/ 12-yr MFTE eligibility. Engineering/Studies complete: 20 in/hr infiltration rates, Topo, Civil, & HVAC. $3.7k carry income. $35k/door.
Description
The property includes two tenant-occupied buildings providing interim income while the next owner continues entitlements and permitting. A comprehensive due diligence package is available. Ideal for builders or developers seeking a well-studied infill project with momentum. Tenant occupied—do not disturb. Owner is a licensed real estate broker in the State of Washington and is the co-listing agent.
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Impôts fonciers
| Numéro de lot | 021912-3092 | Évaluation des bâtiments | 405 493 $ CAD |
| Évaluation du terrain | 280 129 $ CAD | Évaluation totale | 685 621 $ CAD |
Impôts fonciers
Numéro de lot
021912-3092
Évaluation du terrain
280 129 $ CAD
Évaluation des bâtiments
405 493 $ CAD
Évaluation totale
685 621 $ CAD
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12524 Addison St SW - Addison St
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