Description

Shovel ready multifamily opportunity in desirable Juanita Beach! This cleared and level corner lot parcel is designed, permitted and ready to become a 7unit apt building. Enjoy building a Class A asset exempt from property tax for 8 yrs! Seller has applied to MFTE program-1 unit to be exempting property from taxes(land value tax still applies). Designs include a unit mix of six 2bd/2.5bth and one 3bd/2.5bth spread over 2 floors w/ a parking garage below. Located blocks from Juanita Beach, amenity rich Juanita Village and set within the Lake WA School District make this a highly sought-after locale sure to attract a great tenant base! Projected rents forecast a 5.5% cap ARV. Contact LB for plans, permit details and construction estimates.

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Listed by: Sound Realty Group