Looking for architect and general contractor for new build

[Nick He]

Hello there,

Hope you all have a wonderful start to the year! I have been a buy-and-hold investor in the Seattle area for the last 12 years. I am planning of going into the property development space. I plan to start with a smaller construction project. The lot is in Northgate. Right now, the rental income is $3400 a month. One neighbor four doors down with the same size lot built a 16 unit micro-unit apartment building (two buildings). I am really inspired and want to do something similar.

I have talked to both of my neighbors and they can join forces if the opportunity is right. 

Here are what I am thinking:

Option 1

Do what the neighbor is doing. Each unit rent is around $1,100. So monthly income is $17,600. Annual income (5% vacancy rate) is $200,640.

The downside, not sure about the future of micro-housing, especially given the COVID impact.

Option 2

We may be able to build 4-6 townhouses on the property. For the townhouses development, they are all a few blocks around the property.  Each townhouse rent will be $3000. So monthly income is $12,000 to $18,000. Annual income (5% vacancy rate) is $136,800-$205,200.

Ask

Do you know some architects and GC who may be interested in this project? I am in the early exploration phase, so any connection is highly appreciated!

Thank you so much and have a wonderful day!