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Interbay Development

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For information on current entitlements and development details, please see the document library.

Executive Summary

Interbay Development is a 47-unit development site with MUP located at 2235–2241 15th Avenue W, Seattle, WA 98119. This offering provides buyers the opportunity to purchase the property free and clear of existing debt. This offering is priced at $2,500,000.

Offering Details

Pricing
$2,500,000
Financing Debt
Offered free and clear

Property Summary

Address
2235 15th Ave W, Seattle
Location
Interbay / West Queen Anne
Parcels
277160-0995, 277160-1005
Total Site Area
9,100 SF
Zoning
Current: C1-55(M) // MUP: C1-40
Building Height
4 stories
Total Units
47
Parking
16 spaces (garage)
Project Architect
Hummel Architects
Master Use Permit
3024886 - Ready for issuance

Investment Opportunity

Blocks from Expedia’s New Campus: Expedia began moving its world headquarters from Bellevue to Seattle in Fall 2019, with an anticipated 4,500 total new employees within a few blocks of the Interbay Development by early 2020.

Vested before HALA: Break ground in 2020 and save hundreds of thousands of dollars on impact fees with the Master Use Permit ready for issuance.

The Perfect Unit Mix: A thoughtful mix of market-rate and efficient SEDU units, all benefiting from significant rent growth potential.

Blocks from Expedia’s New Campus

Vested before HALA

The Perfect Unit Mix

Location

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Interbay Development

2235-2241 15th Ave W
Seattle, WA 98119
Units: 47
Price: $2,500,000

About the Area

Located just 15 minutes northwest of Downtown Seattle, Interbay was long an industrial area that marked the boundaries of Queen Anne and Magnolia, and provided traffic a direct route to Ballard. But today, the neighborhood tells an entirely different story and stands as a destination of its own.

Interbay

While easy access to Ballard, Queen Anne, Fremont, and South Lake Union is an appealing prospect for those who call Interbay home, growing live-work-play offerings within this micro-market are attracting new residents — and keeping them there. From Whole Foods to a brand new Home Good store, Interbay’s retail complexes are a destination for all Seattleites.

Expedia Moves to Seattle

Expedia is currently in the process of moving its corporate headquarters from Bellevue to a 40-acre campus along the waterfront, which will bring an additional 4,500 employees within a five-minute drive from the Interbay Development.

Surrounding Interbay, Fremont, South Lake Union, and the Central Business District flaunt other major employers such as Amazon, Google, and Facebook. This easy access will be bolstered by the future Ballard light rail extension, arriving at the Interbay Development’s doorstep by 2035.

$168K

Avg Household Income (1 Mile)

213,109

Population (3 miles)

37

Median Age (1 mile)

77

Walk Score - Very Walkable

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Exclusive Listing Brokers

Kidder Mathews is the exclusive Listing Brokerage for this Offering. Dylan Simon, Jerrid Anderson, and Matt Laird are exclusively representing the Seller in the sale of the Interbay Development site.

       

Direct: 206.414.8575

       

Direct: 425.736.5516