Greenwood is a fully permitted, mixed-use, apartment development site located in the highly sought-after Greenwood-Phinney Ridge Urban Village. Cone Architecture designed the six-story building with 66 apartments above 1,120 square feet of ground-floor commercial space. Alice Ball Park ensures east-facing views from the second floor and higher will remain unobstructed for the foreseeable future. The site also offers a rooftop deck with amazing views to west and east, washer and dryer in each unit, and 67 bike stalls. Building permits will be issued in January 2020.


Located at the very walkable and bikeable intersection of Greenwood and 82nd Street, this development opportunity has a 95 Walkscore. Grocery stores, cafés and restaurants are easily accessible, as are outdoor activities in the brand-new
park across the street. With frequent bus service blocks away, tenants will have a direct path to employment centers in Fremont, South Lake Union, and Downtown Seattle.

PRICING SUMMARY

Purchase Price

Price per Unit

$4,300,000

$65,152

PROPERTY SUMMARY

8105 & 8111 Greenwood Ave N

7,438 SF (0.18 AC)

291920-0870, 291920-0685

Greenwood-Phinney Ridge

NC2P-55 (M)

Address

Site Area

Parcel

Urban Village

Zoning

DEVELOPMENT POTENTIAL

66

28,751

1

1,120

67

Apartment Units

Apartment NRSF

Retail Units

Retail SF

Bike Stalls

 
 

Greenwood is bordered by Ballard to the west, Greenlake to the east, Broadview and Northgate to the North and Phinney Ridge to the south.

HISTORY

In its early days, Greenwood (then called Woodland) was known for its wet, marshy landscape and, frankly, its cemetery. As demand for land grew and the trolley lines made their way north, the cemetery was transplanted to Crown Hill and the building began. By the 1940’s, Greenwood Avenue was known as the “Miracle Mile” because of its plethora of shops, pharmacies, banks, restaurants, and even a department store. The bog threatened to swallow up some of the lower houses, but the annexation of Greenwood into the city of Seattle provided much needed infrastructure changes that kept the neighborhood from sinking back from whence it came.

ACTIVITIES & ATTRACTIONS

The Greenwood Car Show every June and monthly art walks showcase not only local artists, but give you a chance to tour all of the interesting businesses along Greenwood Avenue. The Taproot Theatre is one of the largest mid-size theatre companies in Seattle, their mission is to “create theatre that explores the beauty and questions of life while providing hope to our search for meaning.” Other worthy stops include the Greenwood library, newly renovated and a pleasant space, Top Ten Toys, one of the coolest toy stores in the city, and Green Bean Coffeehouse, which devotes equal time to making a great community as it does making a great latte.

DEMOGRAPHICS

  • Greenwood has an eclectic mix of residents; senior citizens mix with young families new to the area and many young professionals all taking advantage of its active commercial core.
     

  • Based on the median household income of $104,028, the typical resident can afford up to $2,890 in monthly rent. Software engineers earn on average $123,297, yielding up to $3,425 in monthly rent.
     

  • The high demand for renting comes from the difficulty to own. The average home value in the area is $732,828. This results in a mortgage payment of $3,501 (with a 20% down payment).

 
 

CONTACT OUR TEAM

Colliers International WA LLC is the exclusive Listing Brokerage for this Offering.
Tim McKay, Dan Chhan, and Sam Wayne exclusively represent the Seller in the sale of the Bevel Greenwood development in Seattle, WA.

TIM MCKAY
Senior Vice President
+1 206 223 5586
Tim.McKay@colliers.com

DAN CHHAN
Senior Vice President
+1 206 223 1265
Dan.Chhan@colliers.com

SAM WAYNE
Vice President
+1 206 515 4498
Sam.Wayne@colliers.com

COLLIERS INTERNATIONAL
601 Union St., Ste. 5300
Seattle, WA 98101
www.colliers.com

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