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U District Development Portfolio

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Executive Summary

The U District Development Portfolio comprises two separate development sites at 5253 & 5500 University Way NE, Seattle, WA. 5253 University is a 7,436 SF entitled site with plans for 90 units. 5500 University is a 10,962 SF entitled site with plans for 74 units. This offering provides buyers the opportunity to purchase the property free and clear of existing debt. This offering is unpriced.

5253 University

Address
5253 - 5255 University Way NE, Seattle
Stories
6 + Basement
No. of Units
90
Avg. Unit Size
313 SF
Parcel #s
881640-0720, 881640-0715
Land Area
7,437 SF
Zoning
NC3P-65

5500 University

Address
5500 - 5510 University Way NE, Seattle
Stories
5
No. of Units
74
Avg. Unit Size
335 SF
Parcel #s
871460-0080, 871460-0070
Land Area
10,962 SF
Zoning
NC2P-40

Investment Opportunity

Fully Entitled

  • MUP issuance in Q4 2020
  • BP issuance in Q4 2020
  • Vested pre-MHA :: No HALA fee

Thoughtful Design

  • 2 buildings across the street from each other
  • Attractive mix of SEDUs and one-beds
  • Efficient floor plates and desirable amenities

Forever Location

  • 10 minute walk to UW campus and light rail
  • Surrounded by countless amenities
  • Desirable location north of campus

Fully Entitled

Thoughtful Design

Forever Location

Location

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U District Development Portfolio

5253 & 5500 University Way NE
Seattle, WA 98105
Units: 74 & 90 (Massings)
Price: Open Bid

About the Area

The University District is experiencing a renaissance: the University of Washington’s exponential growth over the past decade—particularly in the engineering, computer science, and life sciences fields—attracts top minds to the University and to the area.

The neighborhood is reaping the benefits of the University’s growth. Recently approved upzoning will increase density in the area, while a new light rail station will cut commutes in half. The U District has long been a beloved haunt for students in search of books, coffee, and food, and in the next five to ten years it will continue evolving into the city’s next tech hot spot.

59,271

Population
(1 Mile)

28

Avg Age
(1 Mile)

$87,461

Avg Household Income
(1 Mile)

74%

Renter-Occupied Units
(1 Mile)

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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 University District Development Portfolio.

Direct: 206.414.8575

       
       

Direct: 425.736.5516