Views
Listed By:
Windermere Real Estate Co. and NWMLS
Address
4750 University Way NE, Seattle, WA
Price
$ 4,500,000
Property Attributes
  • ID#1872358
  • TypePending
  • CountyKING
  • CitySeattle
  • AreaNorth Seattle
  • NeighborhoodUniversity District
  • Zip98105
  • Style10+ Units
  • Year Built1958
  • Taxes$ 42301
  • Price$ 4,500,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage12182
  • Lot Size4,121 SqFt
Data Source:
Northwest Multiple Listing Service (NWMLS)
Property Description

Unique investment/redevelopment opportunity in prime University District location revitalized by new light rail 2 blocks away. Striking 12000 SF mid-century mixed-use building on “the Ave” by architect Samuel Morrison comprises 18 vintage open 1BR apartments and 3500 SF boutique retail space, once home of Academy of Classical Ballet, run by Irene Larson of NY City Ballet, and of Jun Fan Gung Fu Institute, martial arts school of fighter, teacher and philosopher Bruce Lee. Recapitalize and renovate the property for cash flow in thriving sub-market with focused, high demand renter base or develop in accordance with N3P-65 (M1) zoning. Steps from new mixed-use Safeway valued at $90M & adjacent 24-story M Tower, both by LA-based Fields Holdings.

Elementary School Middle School High School
Green Lake Elementary School Hamilton Mid Lincoln High
Price History
12/15/2021 Listed $6,250,000
3/10/2022 11% - $5,580,000
4/14/2022 11% - $4,980,000
6/29/2022 10% - $4,500,000

General Features

Amenities Coin Op Laundry, Fire Sprinklers, Thermal Windows
Building Area Units Square Feet
Building Name University Heights Add
Carport Y/N No
City Seattle
County King
Directions From NE 50th Street, turn left onto University Wy NE -if you reach NE 47th St you have gone too far.
Electric Expense 3000
Elementary School Green Lake
Energy Efficient Thermal Windows
Exterior Features Brick, Cement/Concrete, Metal/Vinyl, Stone
Finance Cash Out, Conventional
High School Lincoln High
High School District Seattle
Insurance Expense 10000
Leasable Area 10850
Lot Size Square Feet 4120
MLS Area 710 - North Seattle
Middle/Junior High School Hamilton Mid
Net Operating Income 265988
New Construction No
Open Parking Spaces 1
Possession Closing, See Remarks, Tenant's Rights
Possible Use Multi-Family, Retail, See Remarks
Property Condition Fair
Property Style 56 - 10+ Units
Property SubType Multi-Family
Property Type Residential Income
Roof Flat, Torch Down
Senior Community Y/N No
Sewer Sewer Connected
Special Listing Conditions None
Standard Status Pending
Status Pending BU Requested
Street Name University
Structure Type Multi Family
Subdivision Name University District
Tax Annual Amount 42301
Tax Year 2021
Total Units 20
Units Below Grade true
Units In Building Total 20
Utilities Cable Connected, Natural Gas Available, Sewer Connected, Electricity Available
View Territorial
View Y/N Yes
Water Company Seattle Combined Utilities
Water Sewer Garbage 10800
Waterfront Y/N No
Year Built 1958
Zoning Class Multi-Family, Retail, See Remarks

Interior Features

Fireplace Y/N No
Furnished Y/N Unfurnished
Heating Y/N Yes
Living Area Units Square Feet
Power Production Type Electric
Street Suffix Way
Total Stories 4

Exterior Features

Building Area Total 12182
Irrigation Water Rights Y/N No
Lot Dimensions 40 x 103
Lot Features Alley, Curbs, Paved, Sidewalk
Lot Size Acres 0.0946
Lot Size Units Square Feet
Open Parking Y/N Yes
Parking Uncovered Spaces 1
Site Features Cable TV, Fenced-Partially, Gas Available, Patio, Sprinkler System
Total Parking 1
Water Source Public

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Pending Average in 98105

Price
AVG $1.64M
$4.5M
Taxes
AVG $11,760
$42,301
Visits
AVG 81
509
Year Built
AVG 1952
1958
Walkscore
AVG 76
99
Data Provided by Walkscore ® not using MLS data

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