Seattle Homes with 42 - Multi-Family Style

Welcome to Seattle, Washington—a vibrant city nestled between the stunning backdrop of the Cascade Mountains and the shimmering waters of Puget Sound. Known for its iconic Space Needle, rich cultural scene, and thriving tech industry, Seattle is a dynamic metropolis that offers a unique blend of urban sophistication and natural beauty. The city is a haven for outdoor enthusiasts, with numerous parks, hiking trails, and waterfront activities just a stone's throw away.

In the heart of King County, Seattle boasts a diverse real estate market that caters to a variety of lifestyles. Among the most sought-after properties are multi-family homes, which provide an excellent opportunity for both investors and homeowners looking to maximize their living space. These properties, typically designed to accommodate multiple families or tenants, are perfect for those interested in generating rental income or creating a close-knit community atmosphere.

Seattle’s multi-family homes come in various styles, from charming vintage buildings in historic neighborhoods like Capitol Hill to modern complexes in up-and-coming areas like South Lake Union. With the city's robust job market, particularly in the tech sector, demand for rental units remains strong, making these properties a smart investment choice.

Living in a multi-family home in Seattle not only offers the advantage of shared amenities and community living but also places you within easy reach of the city’s vibrant arts scene, eclectic dining options, and stunning waterfront views. Whether you're looking to invest or find your next home, Seattle's multi-family properties present an exciting opportunity to be part of this thriving urban landscape. Come explore the possibilities that await you in the Emerald City!

Newest Seattle Homes with 42 - Multi-Family Style

$975,000

2550852 MLS ⋅ ACTIVE Status

A good location in a popular Ballard neighborhood, this is a flat corner lot with many possibilities to build. NC255' (Neighborhood Commercial) zoning, 50 X 100 lot allows for mixed use, multi family or commercial. On the corner of 11th Ave NW and NW Market Street with good frontage, visibility and easy access. In an area of growth with newer developments happening nearby. This was planned and partially permitted for a four story 45 unit building, but plans changed. A good opportunity for development to build, lease and keep/resell, or owner user to build and operate a business. A good value for the area.

1103 NW Market Street, Seattle

Listing courtesy of Windermere Real Estate Co..

$4,950,000

2549382 MLS ⋅ ACTIVE Status

Prime development land in Seattle's University District — one block from UW's central campus, steps from U District Link light rail, and flanked by the retail corridor along University Way and 15th Ave NE. Three contiguous parcels totaling 12,960 SF, zoned NC2-75(M) and NC2-65(M1), supporting multifamily, student housing, and ground-floor commercial with mixed-use FAR up to 6.0. Sites of this size and zoning quality adjacent to UW rarely come to market. Priced at $4,950,000 — well below King County assessed value — offering immediate equity and full development flexibility. An exceptional opportunity for developers and investors seeking premium entitled land with the greatest investment value in Seattle's most supply-constrained university submarket.

4722 - 4730 15th Avenue NE, Seattle

Listing courtesy of Best Choice Realty LLC.

$1,150,000

2549317 MLS ⋅ ACTIVE Status

Prime Central District development opportunity!! 4,900 sq ft corner lot zoned LR2 (M) with an 8-unit townhouse project already in the final correction stage with the City of Seattle. Much of the design and permitting work has been completed, giving the next owner a valuable head start toward redevelopment. Architectural fees and third-party consultant fees have already been paid, adding even more value for the next owner. Existing triplex provides interim income potential with one 2BD/1BA unit and two 1BD/1BA units, with a shared laundry. Separate meters and driveways on both sides of the lot add flexibility. Grab your shovel, and get ready to unlock the full potential of this well-positioned CD site. Request marketing file for full project description. Purchase price includes the price of the permits.

118 27th Avenue S, Seattle

Listing courtesy of Keller Williams Realty Bothell.

$1,400,000

2530638 MLS ⋅ ACTIVE Status

Prime corner lot development opportunity in Seattle's Central District — one of the city's most historically significant and rapidly transforming urban neighborhoods. This 3,600 SF corner parcel is zoned LR2(M), unlocking increased height and density potential beyond standard LR2. The Mandatory Housing Affordability designation allows for up to 40-foot building height and 1.6 FAR — meaning up to approximately 5,760 buildable square feet — in exchange for an affordable housing contribution or on-site inclusion requirement. Corner positioning offers flexible site design, enhanced visibility, and superior development potential compared to mid-block parcels. Rear alley access provides additional utility for parking, services, and building ingress. New multifamily development is evident throughout the immediate surrounding blocks, reflecting the neighborhood's ongoing transformation. Located within walking distance of Swedish Hospital Cherry Hill, Seattle University (0.6 miles), and Garfield High School. Minutes to Capitol Hill, First Hill, and downtown Seattle with convenient I-5 access and robust Metro transit connectivity — all key demand drivers for future tenants. Buyer to verify all zoning, permitting, and development feasibility with the City of Seattle SDCI

601 21st Avenue, Seattle

Listing courtesy of Asay Realty.

$1,600,000

2529045 MLS ⋅ ACTIVE Status

Development opportunity in the Cental Disteict Zoned NC1-40 (M1). This prominent corner lot at 22nd Ave & E Cherry offers strong potential for a mixed use development in one of the city’s most dynamic urban neighborhoods. Ideally positioned just minutes from downtown Seattle, Capitol Hill, and Madison Valley.The property benefits from excellent walkability, transit access, and proximity to key neighborhood amenities. Nearby destinations include Garfield High School, Chuck’s Hop Shop, and the Northwest African American Museum. Tenant is tiny homes - Low Income Housing Institue of Seattle and the lease expires on Dec, 31 2026

612 22nd Avenue, Seattle

Listing courtesy of RE/MAX Northwest.

$875,000

2526266 MLS ⋅ ACTIVE Status

Prime Development Opportunity – LR1 (M) Zoning | Value in Land Attention builders, investors, and developers—exceptional opportunity in West Seattle! This ~7,650 sq ft lot is zoned LR1 (M), offering strong potential for townhouse-style development or multiple-unit construction (buyer to verify). The existing structure is a complete teardown and is being sold strictly as-is. The true value is in the land and the favorable zoning, making this an ideal site for your next project. Located in a desirable and rapidly evolving area, the property is surrounded by residential growth and new construction. Convenient access to major commuter routes, local amenities, and West Seattle hotspots enhances long-term value and marketability. Whether you’re looking to develop now or hold as a strategic investment, this is a rare opportunity to capitalize on LR1 zoning in a high-demand Seattle location. Bring your plans and vision—opportunities like this are becoming increasingly scarce!

2816 SW Dakota Street, Seattle

Listing courtesy of HomeSmart Real Estate Assoc.

$895,000

2523075 MLS ⋅ ACTIVE Status

Situated in Seattle’s North Beacon Hill neighborhood, the property at 1303 13th Ave S offers an outstanding redevelopment opportunity on a prime corner lot zoned LR3(M) with convenient alley access. Great for Owner/Occupant - Existing improvements include a legal duplex which could also be renovated and sold separately while still being able to build rowhouses off the alley (Buyer to Verify). This 6,000-square-foot site is perfectly poised for constructing 6-8 rowhouses or townhouses, or even a multi-family building, leveraging generous zoning allowances for efficient, multi-story designs that maximize density and appeal. New developments would boast sweeping views of mountains and Puget Sound, along with partial views of downtown Seattle.

1303 13th Avenue S, Seattle

Listing courtesy of Westlake Associates, Inc..

$2,500,000

2521654 MLS ⋅ ACTIVE Status

Western Parcel offers a rare opportunity to develop an 88-unit multifamily project in one of Seattle’s most connected and rapidly growing neighborhoods. The project has successfully completed Early Design Guidance, allowing the next owner to move efficiently toward permitting and construction. Located at the intersection of Columbia City, Hillman City, and Beacon Hill, the site benefits from a vibrant and culturally rich community known for its diverse dining, retail, arts, and entertainment options. The neighborhood’s strong identity and growing demand for housing continue to attract residents seeking an authentic urban lifestyle. The property is ideally positioned just two blocks from the future South Graham Street Light Rail Station, providing direct access to Downtown Seattle, Sea-Tac Airport, and the greater Puget Sound region. The site also offers convenient access to major bus routes and transportation corridors, supporting a highly walkable and transit-oriented living experience. Surrounded by parks, schools, employment centers, and daily amenities, Western Parcel is well suited for a modern residential development that combines urban accessibility with neighborhood character. The project may also qualify for Seattle’s Multi-Family Tax Exemption (MFTE) program, enhancing long-term investment potential.

5721 35th Avenue S, Seattle

Listing courtesy of eXp Realty.

$1,050,000

2511772 MLS ⋅ ACTIVE Status

Prime development opportunity in Seattle’s rapidly growing Mount Baker neighborhood. Positioned on a desirable corner lot, this LR2-zoned property offers exceptional flexibility for builders and investors—ideal for townhomes, small multifamily (2–4 units), or a larger-scale apartment or condo project (buyer to verify). The existing home is livable, with a long-term tenant recently vacated, but the true value lies in the land and its development potential. All utilities are available on-site, helping streamline the entitlement and building process. The flat, usable lot configuration further enhances efficiency for site planning and construction. Located just minutes from the Mount Baker light rail station, this property offers strong transit-oriented appeal, making it highly attractive for future residents and renters alike. Convenient access to I-90 provides quick connectivity to I-5, I-405, downtown Seattle, Bellevue, and beyond. This central location continues to see strong growth, driven by infrastructure, accessibility, and increasing housing demand. The seller has not pursued full development, creating an opportunity for the next owner to step in and unlock the site’s full potential. Seller is open to working with buyers exploring a mid-sized project. Opportunities like this—combining zoning flexibility, location, and upside—are increasingly rare in this high-demand corridor. Bring your vision and capitalize on the growth of Mount Baker.

3101 S Walden Street, Seattle

Listing courtesy of John L. Scott, Inc.

$1,075,000

2507351 MLS ⋅ ACTIVE Status

TOWNHOUSE REDEVELOPMENT OPPORTUNITY NEAR FREMONT/WALLINGFORD/GREENLAKE | 4,000 SF LOT WITh LR2 (M) ZONING 807 N 49th St is located just blocks from the Woodland Park Zoo, this 4,000 square foot lot is zoned LR2 (M), a highly desirable zoning code for townhome and small-scale multifamily development. Historically, LR-zoned sites were subject to unit-count density caps that limited overall development potential. However, with the implementation of HB 1110 in June 2025, those constraints have been removed in favor of a building envelope driven by FAR, height, and setback standards, meaning the total buildable size is now the primary limitation rather than the number of units. This shift allows developers to increase unit count through more efficient design, creating a more compelling development opportunity for 4+ luxury townhomes (buyer to verify) with skyline views in one of Seattle’s most sought-after neighborhoods. The existing structure on the site currently operates as a 5 Unit apartment building producing $50,311 in annual net operating income.

807 N 49th Street, Seattle

Listing courtesy of Blake Investment Advisors.

$250,000

2488693 MLS ⋅ ACTIVE Status

Rare opportunity to acquire an affordable and buildable 9,000 sqft lot on the best block in South Park. Steps away from the waterfront parks and the South Park business district. Georgetown, White Center, Burien, and Beacon Hill are just a short drive away. Build either up to 5 townhomes or a custom SFR home on a large lot. Previous plans were approved for a 5-unit townhome development. Utilize street parking to avoid building in the ECA. Studies are available.

532 S Concord Street, Seattle

Listing courtesy of Providencia.

$200,000

2486699 MLS ⋅ ACTIVE Status

Great opportunity to develop this 4,787 square foot lot on North Beacon Hill. This property is zoned LR2 and is located in an opportunity zone. Potential to build custom homes with views of the mountains. Good location with quick access to I-90 and I-5. Seller has completed no studies on this property. Buyers to do their own feasibility and due diligence.

132 X 16th Avenue S, Seattle

Listing courtesy of KW Greater Seattle.

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