DEVELOPMENT SITE 1 BLOCK
FROM RAINIER BEACH STATION

THE OFFERING

LINK Development site located just one block from the Rainier Beach Light Rail station and walking distance to the heart of the central retail corridor. This site is a rare combination offering excellent access to transit and walkability. Already permitted for 44 townhomes (pre MHA), the development site was recently rezoned to accommodate a 250+ unit development. Demand for workforce housing has pushed developers far outside of the Seattle city limits, but Link provides the opportunity to build affordable or workforce units immediately adjacent to light rail.

Within walking distance of the development site is a grocery store, numerous coffee shops, restaurants, and bars, Chief Sealth Trail, and the Rainier Beach Community Center. The Walk Score is 75, Very Walkable, and the Bike Score is 77, Very Bikeable.
 

Just one block to the south of the LINK Development site is the Rainier Beach Light Rail station, with direct access to Seatac Airport, Downtown Seattle, and University of Washington. Light Rail services over 80,000 riders per day, which will increase in 2023 as access expands to North Seattle, Bellevue, and the Microsoft Campus in Redmond. Light rail is the easiest and most direct method of transportation north and south through Seattle.

PRICING SUMMARY

Purchase Price

Price per Unit - Affordable

Price per Unit - Market

Price per Lot SF

$6,000,000

$20,548

$31,579

$112

PROPERTY SUMMARY

8803 MLK Jr Way S & 4215 S Trenton St

53,362 SF

212370-0305, 212370-0306

Rainier Beach

Address

Site Area

Parcel

Urban Village

ZONING SUMMARY

AFFORDABLE OVERVIEW

MARKET RATE OVERVIEW

8803 MLK Jr Way S Zoning

8803 MLK Jr Way S FAR

4215 S Trenton St Zoning

4215 S Trenton St FAR

Total Potential NRSF

Total Potential Units

SM-RB 125 (M2) - 23,403 SF

5.75

SM-RB 55 (M1) - 32,998 SF

3.25

267,808

292

SM-RB 125 (M2) - 23,403 SF

3.75

SM-RB 55 (M1) - 32,998 SF

2.25

188,703

190

RAINIER BEACH STATION

 

BEAUTIFUL VIEWS WITH MANY SURROUNDING AMENITIES

THE MARKET

Rainier Beach is yet another south Seattle neighborhood that is enjoying a resurgence in popularity. Its affordable houses and beautiful views are just a few of its draws.

  • Rainier Beach has one of the widest consistent ranges of generations most likely because of its proximity to core employers and curated retail.
     

  • $112,259, yielding up to $3,119 in monthly rent.Based on the median household income of $74,435, the typical resident can afford up to $2,120 in monthly rent. Software engineers earn on average
     

  • The high demand for renting comes from the difficulty to own. The average home value in the area is $614,184. This results in a mortgage payment of $2,950 (with a 20% down payment).

WITHIN A 10 MINUTE WALK

 

MARKETING

CLICK ON THE BUTTONS BELOW TO ACCESS THE MATERIALS

 

CONTACT OUR TEAM

Colliers International WA LLC is the exclusive Listing Brokerage for this Offering.
Tim McKay, Dan Chhan, and Sam Wayne exclusively represent the Seller in the sale of the LINK Development in Seattle, WA.

TIM MCKAY
Senior Vice President
+1 206 223 5586
Tim.McKay@colliers.com

DAN CHHAN
Senior Vice President
+1 206 223 1265
Dan.Chhan@colliers.com

SAM WAYNE
Vice President
+1 206 515 4498
Sam.Wayne@colliers.com

COLLIERS INTERNATIONAL
601 Union St., Ste. 5300
Seattle, WA 98101
www.colliers.com

 

Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. This publication is the copyrighted property of Colliers International and /or its licensor(s) 2019. All rights reserved.