6 Unit Townhome Opportunity Greenwood Area of Seattle

[Rich D'Agostino]

This investment proposal is to build 6 rowhomes in the Greenwood neighborhood of Seattle.

The property is located between Holman Road and an alley, it totals 6,642 sq ft and is zoned LR 2. 

Currently there is a duplex on the property that was built in 1954. One unit is rented out through Jan

31st, 2017 for $1,650 a month and the other unit is rented month to month at $1,450 a month.

There are multiple site plan options, 6 town homes, 6 rowhomes, or apartments, this proposal

discusses building row homes. These row houses would be 1,425 sqft ft, with one parking spot per

home offered off of the alley.

The average days on market for new construction is 4 days.

The purchase price of the property is $800,000

Average sales price of comparable homes is $544,369

Estimated cost of construction $1,435,750 building at $165 a sq ft, with an extra $25, 000 in development.

Estimated sales price of $545,000 each with a total ARV $3,270,000

For a full packet of information please contact Rich D'Agostino: [email protected]

425-435-5762.