807 N 49th Street, Seattle, WA 98103

Property Description

TOWNHOUSE REDEVELOPMENT OPPORTUNITY NEAR FREMONT/WALLINGFORD/GREENLAKE | 4,000 SF LOT WITh LR2 (M) ZONING 807 N 49th St is located just blocks from the Woodland Park Zoo, this 4,000 square foot lot is zoned LR2 (M), a highly desirable zoning code for townhome and small-scale multifamily development. Historically, LR-zoned sites were subject to unit-count density caps that limited overall development potential. However, with the implementation of HB 1110 in June 2025, those constraints have been removed in favor of a building envelope driven by FAR, height, and setback standards, meaning the total buildable size is now the primary limitation rather than the number of units. This shift allows developers to increase unit count through more efficient design, creating a more compelling development opportunity for 4+ luxury townhomes (buyer to verify) with skyline views in one of Seattle’s most sought-after neighborhoods. The existing structure on the site currently operates as a 5 Unit apartment building producing $50,311 in annual net operating income.

Listing Status:

Active

Data Last Updated:

May 1, 2026 at 7:19AM

Listing Office:

Blake Investment Advisors : 206-618-2207

Listing Agent:

Gabe Blake : 206-618-2207

MLS ID:

2503470

Interior

• Flooring: Vinyl Plank
• A/C: None
• Heating: Forced Air
• Fireplace: Fireplaces: 0

Exterior

• General: Wood Products
• Parking: Parking spaces: 0

Construction

• Roofing: Composition
• General: 55 - 5-9 Units

Location

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

Lot

• Zoning: 9521100995

Utilities

• Sewer: Sewer Connected

Financial

• Source: nwmls