New Construction DADU in Seattle

[Adrian Chu]

Investment Info:

Single-family residence other investment.

Sale price: $875,000

Brand new detached home in NE Seattle's Ravenna neighborhood with stellar curb appeal situated above the street. Designer kitchen with custom cabinets, premium stainless appliances, waterfall Carerra style quartz counters and backsplash. Open dining and living spaces. Cozy up in front of the gas fireplace. Primary bedroom with en-suite bath along with 2 more bedrooms and a bathroom on top. Don't miss the bonus heated flex room with roll up door that's also an EV ready garage. Additional off-street parking and super customizable private back patio along with front yard perfect for entertaining. Walk to restaurants, shops and Roosevelt Light Rail. Easy access to UW/Downtown Seattle/SLU. Top ranked schools. Bike Score 86 and Walk Score 76.

What made you interested in investing in this type of deal?

I love doing projects in the City of Seattle

How did you find this deal and how did you negotiate it?

This property was purchased from the MLS

How did you finance this deal?

Hard money lender and cash

How did you add value to the deal?

Remodeled the existing home, built a DADU, and sold the two separately

What was the outcome?

Sold the two homes in early 2023

Lessons learned? Challenges?

Initially we wanted to keep the existing house and build 2 new homes, but there was a nuance in the land use/zoning code that prevented us from doing that, so we went with an alternative plan.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Specialty Real Estate Group