December 12, 2018
Sunrise D C, LLC sold 323 Bellevue, a fully-entitled multifamily development site in Seattle’s Capitol Hill neighborhood to Seattle-based Vekst Development, LLC for $3.725 million. The project could either be built as rental apartments or condominiums, with units ranging from studios to two-bedrooms at an average unit size of 420 square feet.
Located on a 7,200-square-foot site at 323 Bellevue Avenue E, the permitted development encompasses a six-story structure planned for 43-units with 14 below-grade parking stalls, ground-level amenity space and a rooftop deck.
Colliers International’s Tim McKay, Dan Chhan and Sam Wayne represented the seller in the transaction.
McKay says, “The City of Seattle has already issued building permits for 323 Bellevue, so the offering was an opportunity for a savvy developer to skip the planning stage and jump right into construction.”
For comments, questions or concerns, please contact Dennis Kaiser