Development Wholesale Deal Avb In Lynnwood WA

[Khang Le]

We have a wholesale development deal Avb in Lynnwood. 

Possible 25-40+ unit multi-unit development. The one owner says they do not have any height restrictions so 40+ Units is possible. Total of all 3 lots: 30,926 SF 0.71 acres.

Purchase Price: 1.7M

Per County zoning, these parcels are zoned MR (High Density Residential) and allow up to 1 unit per 2,000 sf. of property. Based on this, max number of units would pencil out to about 15 units. Note that these parcels are appear to be currently accessed by a private road. Snohomish County only allows up to 9 units off of a private road before it would need to be converted to a public road. With 2 or 3 other parcels appearing to be currently using the private road, this would only allow up to 6 or 7 units across these parcels without triggering the need for a public road extension." 

If you are interested then let me know and I can send you all the info we have on it.