7822 NE Lake City Way NE, Seattle, WA 98115

• 3 beds |
• 2 baths |
• 1,960 sqft

Property Description

ATTN Developers, Builders, & Investors! An exceptional, high-density development opp a/w in Lake City urban corridor. Offer for the first time, 7818 & 7822 Lake City Way combined, near-level ~9,000 SF footprint primed for a mid-rise, mixed-use project. Featuring robust C1-55 zoning w/ an allowable 3.75 FAR, provides a clear, predictable pathway to construct. a 6-story bldg. Prelim Feasibility highlights an ideal yield of up to 42 RES units (suited for studios/1-bdrm) ground-floor commercial use. Take advantage of Seattle’s 4-foot gnd-fl height bonus to max. ceiling & views, utilizing UG parking entry. Strong local rental demand, prime eligibility for Seattle's 12 year Multi-family Tax Exemption (MFTE) program to max. your post-stabilization yields. while you clear your master use permits (MUP). Buyer to verify all feasibility and zoning constraints to their satisfaction. Total Lot Size: Approx. 9,000 SF (Combined dual-parcel assemblage) Zoning: C1-55 (Commercial 1, 55’ base height limit) Development Capacity: Up to 33,750 gross buildable SF under a 3.75 FAR Pro-Forma Optimization: High-velocity rental sub-market with excellent financial metrics leveraging Seattle's 12-year MFTE property tax exemption.6-story building featuring ground-floor commercial retail and 5 levels of multifamily housing (up to 42 units). Covered Land Play: Existing residential structures offer immediate holding rental cash flow during the architectural and permitting phases.

Listing Status:

Active

Data Last Updated:

August 13, 2026 at 2:21AM

Listing Office:

Kelly Right RE of Seattle LLC : 206-525-5235

Listing Agent:

Diane Li : 206-525-5235

MLS ID:

2508699

Interior

• General: Dining RoomFireplaceFrench DoorsWater Heater
• Appliances: DishwasherDisposalDryerRefrigeratorStove(s)/Range(s)Washer
• Basement: Finished
• Flooring: Hardwood
• A/C: Forced Air
• Heating: Baseboard
• Fireplace: GasFireplaceFireplaces: 1

Exterior

• General: Cement/Concrete
• Style: Craftsman
• Parking: Detached GarageParking spaces: 180

Construction

• Roofing: Composition
• General: Multi/SplitBlock

Location

• HOA Amenities: 0.0
• Originating MLS: nwmls
• School District: Seattle
• County: King

Lot

• Zoning: 297800215
• View: TerritorialView

Utilities

• Water: Community
• Sewer: Available

Financial

• Source: nwmls