M A G N O L I AD E V E L O P M E N T S I T E

Paragon Real Estate Advisors is pleased to exclusively offer for sale the Magnolia Development Site. This unique property has entitlements in hand to construct an 8-unit apartment building with spacious units that are strategically designed to be divided into additional units in the future. The site offers an investor other development options such as Rowhouses, Townhouses, Condominiums or owner/user development. Positioned perfectly for the area’s expansive growth, the site has public transit support providing residents with quick access to Downtown Seattle and other employment hubs.

NAME Magnolia Development Site

ADDRESS 2471 Thorndyke Ave W, Seattle WA 98199

PARCEL NUMBER 277160-0750

LOT SIZE 8,385 Square Feet

ZONING LR3

PRICE $1,695,000

PRICE PER SQ.FT. $202

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify all information and bears all risk for inaccuracies.

O F F E R I N G

Magnolia Dev Site

Development Potential

Proposed Project 8 Unit Apartment Building

Height 40 Feet

Total Units 8 (Future 12)

Parking 8 Garages, 2 Open Spaces

Rentable Gross Area 9,000 Square Feet

Master Use Permit Status Issued 9/13/2013 (#3014361-LU)

Building Permit Status Administrative Review - Expected October 2018

Q 4- 3BD/3BTH (1,100 SF)

Q 4- 1BD/1BTH (750 SF)

Q 9ft ceilings

Q Rooftop deck option

Q Future Divisible Units: 3BD/3BTH units divided into 4- 2BD/2BTH and 4- Studio units

Q Side by Side washer/dryer

Q Walk in closets

Q Heating: Forced Air

Q Private Elevator

S I T E P H O T O S

S I T E M E A S U R E M E N T S

102.2”

100.0”98

.5”

68.7”8,385 Square Feet

Q 4 miles from Downtown Seattle

Q Minutes from Magnolia Village, Ballard, Queen Anne, Fremont, Seattle Pacific University

Q 5 Minutes from Expedia’s new HQ Campus; 10 minute bike ride

Q Walking distance to Discovery Park, Ballard Locks, fisherman’s terminal and seconds from Elliot Bay Trail (4-mile protected running/bike trail that follows the water to downtown)

Q Opportunity to develop high-demand apartment building, townhomes or rowhouses

P R O P E R T Y H I G H L I G H T S

M A G N O L I AD E V E L O P M E N T S I T E

MEDIAN HOUSEHOLD INCOME

$113,600

COMMUTE TIME TO DOWNTOWN

15 Minutes

Located on a peninsula West of Queen Anne Hill, South of the Ballard Locks

and minutes from downtown, Magnolia is the second largest neighborhood in

Seattle by area. Accessible by three bridges, Magnolia has natural boundaries

that give residents the feeling of living on an island. Due to its location on a

peninsula, Magnolia has a secluded feel yet offers all the amenities that come

with being located minutes from a bustling city atmosphere.

Q Located just minutes from Downtown Seattle and South Lake Union

Q Near future Expedia Corporate Headquarters on Elliot Avenue West

Q Quiet residential neighborhood of Magnolia

Q Walking distance to several beautiful parks including Discovery Park, Magnolia Manor Park and Lawton Park

Q Minutes to upscale Metropolitan Market and Whole Foods

Q Steps from local bike trails, dog parks, and public transportation

Q Close to bus line with access to University of Washington and Downtown

Q Five minutes to Magnolia Village’s retail amenities

L O C A T I O N H I G H L I G H T S

S E A T T L E M A P

INTERBAY

SOUTH LAKE UNION

SEATTLE CBD

BELLTOWN

CAPITOL HILL

QUEEN ANNE

MAGNOLIA

BALLARD

ELLIOTT BAY MARINA

NEW CORPORATE HEADQUARTERS

M A G N O L I AD E V E L O P M E N T S I T E

M A J O R E M P L O Y E R S - C E N T R A L B U S I N E S S D I S T R I C T

M A J O R E M P L O Y E R S - S O U T H L A K E U N I O N

600 University St, Suite 2018

Seattle Washington 98101

206.623.8880 / info@ParagonREA.com

www.ParagonREA.com