Priced at $2,250,000, this 12,555 SF (0.29-acre) infill development site is zoned MDR-2 (Middle Density Residential) . This favorable zoning allows for the by-right development of 7 to 8 townhomes or small multifamily units, meaning no rezoning or variance is required. Location: Uniquely tucked away at the end of a quiet, dead-end street off SE 40th Lane, this site offers a peaceful and private residential setting with immediate access to the Factoria Blvd SE corridor.. It is walking distance to Factoria Mall, T&T Supermarket, Target, and the T-Mobile Headquarters. Furthermore, it is situated within the Bellevue School District and assigned to the highly coveted Newport Senior High School.
Head Start on Development: Boundary and topographic surveys, along with a preliminary ALTA Title Report, are already completed to streamline early planning and entitlement
. These documents provide a massive head start for architects to navigate specific site constraints, including a 30-foot access easement, utility easements, and a steep slope buffer. Income Potential: The property features an existing 1,440 SF, 2-bedroom, 1-bath rambler built in 1958.
. The property is being sold for its land value
(Note: The property is tenant-occupied. Please do not disturb the occupants or walk the property unannounced.)
Donald Tsai
Prolink Realty LLC
