LESCHI STATION TOWNHOME SITE AERIAL VIEW SEATTLE CBD CAPITOL HILL JUDKINS PARK LESCHI LESCHI STATION TOWNHOME SITE QUEEN ANNE CAPITOL HILL SOUTH LAKE UNION SEATTLE CBD LESCHI JUDKINS PARK LESCHI STATION TOWNHOME SITE FUTURE JUDKINS PARK LIGHT RAIL STATION (2023) BEACON HILL MOUNT BAKER OFFERING The Leschi Station Townhome Site offers an investor the opportunity to purchase one of the most marquee lots on the crest of Leschi. The lot is a corner parcel zoned LR2 with panoramic views to the east and west. It is conveniently located within walking distance to popular restaurants and bars including Repast Bakery, Heyday Burgers, QED Coffee, and That’s Amore Italian Café. Employment centers of Downtown Seattle and South Lake Union are drivable in under 15 minutes. The future Judkins Park East Link extension (2023) is one mile away and will offer fast service to Eastside employment centers. The site was previously utilized as a gas station, and the current owner has conducted an environmental cleanup overseen by Sound Earth Strategies. The Washington State Department of Ecology is expected to deliver a “Property- Specific” No Further Action determination in early 2020 following pending post- remediation groundwater results/testing. Two of the required four quarters of testing have successfully been completed. Please contact listing agents for further environmental details/documents. NAME Leschi Station Townhome Site ADDRESS 1301 31st Ave S, Seattle WA 98144 PARCEL NUMBER 690920-0085 LOT SIZE 11,880 Square Feet ZONING LR2 (Non Urban Village) PRICE $2,400,000 PRICE PER LOT FOOT $202 PROPOSED DEVELOPMENT 8 - 12 Townhomes TERMS Cash Out This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify all information and bears all risk for inaccuracies. INVESTMENT HIGHLIGHTS Ideal townhome site for 8-12 homes Surrounded by million dollar homes on the crest of Leschi Views of Downtown Seattle, Puget Sound and Olympic Mountains to the West Views of Lake Washington and the Cascade Mountains to the East Less than one mile to future Judkins Park Light Rail Station with service to the Eastside (opens 2023) 1.1 miles to Mount Baker Light Rail Station Quick access to Downtown Seattle and South Lake Union Many walkable amenities including coffee shops, wine bars, and popular eateries Burke Gilman bike path is 2 minutes away LESCHI STATION TOWNHOME SITE JACKSON STREET DEVELOPMENT ACTIVITY All Within 1 Mile of Leschi Station Development 1. VULCAN DEVELOPMENT 2. 23RD & JACKSON DEVELOPMENT 3. DEP HOMES - JACKSON & 26TH SE Corner of 23rd and Jackson 2212 & 2214 S Jackson St 2524 S Jackson St 532 Unit Mixed-Use 2 - 6/7 Story Mixed-Use Buildings 4-Story Mixed Use Building Apartment/Retail Development 127 Affordable Housing Units 78 Residential Units Day Center Administrative Offices Ground Floor Retail 2 3 1 LESCHI STATION TOWNHOME SITE DEVELOPMENT HIGHLIGHTS PROPERTY SUMMARY DEVELOPMENT POTENTIAL (New HALA Limits) Address 1301 31st Ave. S, Seattle, WA Proposed Development Luxury Townhomes/Rowhouses Parcel Numbers 690920-0085 Floor Area Ratio 1.4 Lot Size 11,880 Density Limit No Limits Zoning LR2(M)* - Not Urban Village Parking 1 per Unit LOWRISE 2(LR2)* Maximum FAR Townhouse/Rowhouse 1.4 Height Limit 40 feet Density Limit No limit SETBACKS Rear 5 feet minimum 7 feed average Front 10 feet minimum with alley 15 feet minimum if no alley Sides 5 feet minimum 7 feet average The site is zoned LR2 (M). Assuming future development of 10 Design Standards Modulation required for townhomes (1,500sf avg), HALA development fees for the site will be front and side facades Upper-level Setback 12 feet for front facades approximately $200,000-$220,000 ($14.46/sf X 15,000sf). taller than 40 feet Minimum Parking 1 per unit UTILITIES AND LAND USE MAPS SEWER AND DRAINAGE WATER ZONING AND LAND USE SOUND TRANSIT LINK LIGHT RAIL The Mount Baker light rail station is located a 20 min walk away. This station offers easy transport to Seatac and downtown Seattle. The station is situated between the Columbia City and Beacon Hill stations on the Central Link line, which runs from Seattle–Tacoma International Airport to Downtown Seattle and the University of Washington as part of the Link light rail system. The elevated station consists of two side platforms located west of the LESCHI STATION intersection of Rainier Avenue and Martin Luther King Jr. TOWNHOME SITE Way in the Mount Baker neighborhood, part of Seattle’s Rainier Valley. During regular weekday service, trains operate roughly every six to ten minutes during rush hour and midday operation. The station is approximately 22 minutes from SeaTac/Airport station and 16 minutes from Westlake station in Downtown Seattle. In 2017, an average of 2,369 passengers boarded Link trains at Mount Baker station on weekdays. East Link (one mile away) will give riders a fast, frequent and reliable connection between the Eastside’s biggest population and employment centers and destinations across King, Pierce and Snohomish counties. When East Link opens in 2023, passengers will be able to ride more than 42 miles of light rail, from the Eastside to Northgate and to Angle Lake. Extensions south to Kent/Des Moines and Federal Way, north to Lynnwood and east to downtown Redmond will open one year later in 2024. LESCHI The trendy Leschi neighborhood, located east of the downtown CBD and just north of Interstate 90, boasts some of the city’s most gorgeous views, wonderful classic architecture, tree-lined streets and a charming harbor/marina district on the lake. Leschi has a very casual, laid-back feel that residents enjoy even as it is on the crest of the dynamic and quickly growing Central District that for many years has experienced a major renaissance and surge in popularity. Although there are many, the Leschi area has two main attractions – an extensive park system and a bustling retail area. Leschi and Frink parks are interconnected and span down the hillside towards the lake and Madrona Beach. These parks offer terrific views, manicured green spaces, playgrounds, extensive hiking trails and boat moorage that allow you to explore both land and lake. The nearby business district gives you several dining options – Daniel’s Broiler, BluWater Bistro and Meet the Moon offer water views and/or outdoor dining. Stop at Starbucks for a coffee after a workout at Sol Yoga. Shop at the Leschi Market for fine wine, organic groceries or maybe picnic fare to enjoy before strolling Madrona Beach. The Leschi neighborhood is also very close to Seattle University, Leschi Elementary School, Garfield High School, Harborview Medical Center and Swedish Hospital. MAJOR EMPLOYERS - CENTRAL BUSINESS DISTRICT MAJOR EMPLOYERS - SOUTH LAKE UNION SITE PHOTOS POTENTIAL VIEWS 600 University St, Suite 2018 Seattle Washington 98101 206 623-8880 / [email protected] www.ParagonREA.com This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify all information and bears all risk for inaccuracies..