Looking to subdivide and build

[Gustavo Munoz Castro]

Hey folks. I own a rental property in Seattle (unincorporated King County technically) and it has a 10,454 sqft lot, zoned R18. There is a home on there currently with a huge back yard surrounded by larger multifamily properties. The previous owner started the subdivision process but went under after the crash. With rental properties as scarce as they are in King County, I'd like to see if its feasible to build some new rentals in the backyard. I'm a total noob at new construction, so I asked a friend that has done it and she pointed me to ASPI surveyors and land planners. I'd also need a construction loan to get this off the ground. Does one actually need an architect to make this happen? My friend said since its small multifamily then no. Has anyone gone through this process? I'd love some tips and recommendations for contractors and lenders. Also, am I doing this in the right order? Land planner, then bank and then contractor? Thanks in advance.

[Michael Evans]

It's a lot of the leg work but you can, and should do yourself (good education) If you don't have time or don't know where to start, you are in the right place. First you need to check the zoning with your city planning department. They will tell you how many units you can build and what is the maximum lot coverage for your property. It's usually a percentage of the total square feet of the lot. If you lot is 20k square feet and the maximum lot coverage is 50%, then you can build a total of 10k sq ft lot coverage

Then you should get a good Real Estate Broker in your area to tell you the completed value of the project. You'll need to know when trying to get construction financing.

Keep in mind, all cities are different, just as all States are different. In most California Cities, you cannot get plans approved and a permit at the City Building Department without an architect stamp on the plans. They will also require a structural engineer stamp on the structural drawings. 

Hope this helps