Call: 206-355-9468
P.O.Box. 6213, Lynnwood, WA 98036  Tel: 206-355-9468



FOR Sale By Owner $450,000


A great Rental House - Cash Flow!

Flat Lot with a House in excellent condition

L-1 Zoning in Ravenna/Wedgwood Neighborhood

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Marketing Flyer


House interior Photos



House Address:

8602 23rd Ave NE, Seattle, WA. Off Ravenna Ave NE, west on 86th St.



· North Seattle Ravenna/Wedgwood neighborhood

· The house is in excellent condition. It got a lot of newly upgrade. See "Existing House"

· New developments around the blocks.

· Zoning and lot size allow total 3 units - one single family house and two townhouses

· Value in Land. It can only go up.

· Preliminary Layout of development for 3 units are available.

· A 20 ft driveway easement to the house in the north. It does not affect the development as it is within the required backyard setback 20ft.


Existing House:      

· Existing house is 1500SF 3bedrm/1bthrm plus a large storage room with separate entrance. It has laundry room. dining room.

· Double Pane windows. Newer roof. Newer paint inside out.

· Completely new flooring through out the whole house. New Bamboo floor in Living room and dining room; new carpet in three bedrooms and new vinyl in Kitchen and laundry and bathroom.

· The current rent for the house is $1855 per month, and the tenants pay for all the utilities and take care of yard. Tenants have just signed a one-year contract ending 8/31/2008.



Investor: investing in this property, you will make money in a short term or long term, as value in Land, it can only go up. This is an excellent rental house. When you invest, why Not buy a house on a developmental potential lot?  When the house becomes old and depreciated, the land will hold up more value than the house itself. Then you can sell it to developer/builder or develop yourself.


Builder or developer: The lot is for three units– one single family house and two townhouses. Remove the house and build now? You may be able to salvage the house to save cost. See the surrounding new townhouses.


First Time Home Buyer: Move-in this house and wait for future development. You don't need to worry about maintenance of the house as the value is in land. When the house becomes old and depreciated, the land will hold up more value than the house itself. Then you can sell it to developer/builder for a big profit. Seller will consider Rent-to-Own.


You are interested?       

· Please call or e-mail me with any questions.

· If you would like to write an offer, please contact me or your agent.

· Seller is a licensed agent.

· Seller may list the property in MLS at a higher price. Fetch this deal before it goes on market.

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The information provided herewith is to the Seller's best knowledge. Buyer shall verify all the information to his/her own satisfaction.





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