$995,000
 $5,341 est/mo Sourced by Back At You

215 31st Avenue,Seattle, WA 98112

Seattle, WA 98112

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Description

**Exceptional Development Opportunity - The Value Is in the Land!** Prime 4,400 SF level lot (40' x 110') in one of Seattle's rapidly transforming neighborhoods. Builder activity is already underway with four new homes currently under construction directly across the street, highlighting the strong demand for new housing in the area. Zoned **Neighborhood Residential (NR)** under Seattle's Unified Development Code, this property offers exciting redevelopment potential. Four units are permitted by right with no discretionary design review required for that density. The site may also qualify for additional density through stacked-flat and/or frequent-transit bonus provisions due to its proximity to the Madison Street RapidRide G Line (buyer to verify). Potential eligibility for the 1.6 FAR tier allows approximately 7,000 SF of buildable floor area. Height limits are 32 feet, with potential for up to 42 feet through qualifying tree canopy incentives. An outstanding opportunity for builders, developers, and investors looking to capitalize on Seattle's evolving housing market. Buyer to verify all zoning, density, FAR, height, and development potential to their own satisfaction.

Details

MLS #2550121
Listing TypeFor Sale
StyleHouse
Sub-TypeResale
StatusPending
Year1950
Days On Site85
Listing Provided ByWindermere Real Estate/East | Anastasia Miles

Features

Bed(s)1
Bath(s) 1 Total
SQ Feet1,440
BasementY
Story(s)1
ZoningNR3
Acreage0.10
Property ViewYes

Taxes

Property6182

Area Information

StateWA
CountyKing
CitySeattle
Zip Code98112
Area390 Central Seattle
Community NameMadison Valley
School DistrictBuyer To Verify
Elementary SchoolBuyer To Verify
High SchoolBuyer To Verify
Listing VS Median (in Madison Valley)
Price:
$995,000
low | high
Med:
$900,000
59.547738693467% of Average
sqft:
1,440
low | high
Med:
900
87.5% of Average
$ / sqft:
$691
low | high
Med:
$1,000
5.276381909548% of Average
On site:
85
low | high
Med:
155
54.838709677419% of Average
Sourced by Back At You

Market Activity 98112

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Learn More About This Property

StateWA
CountyKing
CitySeattle
Zip Code98112
Area390 Central Seattle
Community NameMadison Valley
School DistrictBuyer To Verify
Elementary SchoolBuyer To Verify
High SchoolBuyer To Verify
Listing VS Median (in Madison Valley)
Price:
$995,000
low | high
Med:
$900,000
59.547738693467% of Average
sqft:
1,440
low | high
Med:
900
87.5% of Average
$ / sqft:
$691
low | high
Med:
$1,000
5.276381909548% of Average
On site:
85
low | high
Med:
155
54.838709677419% of Average
Sourced by Back At You
Nearby Listings (Within 1/4 mile)
Price: $746K - $1.243M
sqft: 1,000 - 1,500
Listing Updated: September 29, 2026 at 6:04:37 AM PDT