2801 I NE st
Auburn, WA 98002 North Auburn

The conceptual design includes one four-story residential building, 55 apartments, one elevator, indoor amenity areas, private patios or balconies, and a mix of open and covered parking. Municipal services and utilities are reported as available or near the site; buyers should independently confirm capacity and connection requirements.? Low planned-unit basis: approximately $25,000 per proposed unit at the asking price.?

• R-NM zoning supports dense residential and light commercial uses, with a 75-foot height limit and no maximum density listed in the zoning summary.?

• The 55-unit concept is below Auburn’s adopted multifamily SEPA categorical exemption threshold of 200 units, subject to City determination and environmental conditions.?

• The concept includes 67 parking stalls versus the stated one-space-per-unit requirement, including 37 covered stalls.?

• Modern rent drivers include elevator access, air conditioning, in-unit laundry, quartz counters, stainless appliances, balconies/patios, fitness center, tenant lounge, package lockers, and controlled access.?

• Seller and independent operating projections are closely aligned on base rent, expenses, and stabilized NOI.?

• The recorded covenant is not a blanket prohibition on ordinary market-rate apartments; title counsel should confirm all restrictions and termination mechanics.