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32184462
32184463

12461 NE Woodinville Drive, Woodinville, WA 98072

FG
WA 26000759
$10,500,000
34 days on market
Updated 27 days ago

Woodinville Multi-Family Development Site

Details
APN 951810-0070, 951810-0100, 951810-0110, 951810-0120, 951810-0125
Property Type Multifamily, Mixed Use (+1)
Sub Type Residential, Commercial
Units 161
Tenancy Vacant
Acreage 1.130
Zoning Commercial Business District, City of Woodinville
Parking Spaces 230 spaces
Investment Type Redevelopment
Ground Lease No
Sale Condition For sale by owner

Multifamily Development | 161 Units

Marketing description

This 1.13-acre development site in the heart of City of Woodinville is fully entitled and approved for 161 units, allowing you to skip years of permitting - with the heavy lifting already done. The development site spans across five contiguous lots consisting of a strong multifamily submarket demand drivers with high desirable community in the city. Woodinville is consistently ranked as Washington’s best place to live, offering a wealthy resident base and easy access to major employers like Microsoft, SpaceX, and the Bothell University of Washington and biotech hub. With a massive shortage of housing in the area and quick access to I-405, this project is perfectly positioned to meet the high demand for luxury living. This is a rare, high-reward opportunity to enter a top-tier market with all the heavy lifting already finished.

Investment highlights

  • Entitled 161 Residential Units with On-Site Covered Parking
  • The Site is located in the Old Town District in the City of Woodinville Comprising of an entire block of Commercial Business District Zoning
  • Approved Development Agreement (Expires September 9, 2029) with the City King Co. Record #20190924000735
  • Development Site Qualifies for MFTS (Multi-Family-Tax-Exemption)
  • 49,680 Gross Land area, 49,205 SF Less ROW Dedication
  • Approved Development: (161) residential units, 235,314 SF Gross Building Area, (230) parking spaces, 15,702 SF retail area (possible reduction), 8,551 SF office area (possible reduction/elimination)
  • The Woodinville City Council approved on March 17, 2026 a proposed 19-acre development called Midtown Woodinville, which include 1,300 housing units, a 200 room-hotel and nearly 90,000 square feet of retail and restaurants and office space. This project is only .7 miles from the subject Multi-Family Development site.

Listing Contacts

FG
WA 26000759

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Additional Information

Name
Far Ghoddoussi
License
26000759
Brokerage
Realty One Group Enterprise
Brokerage Phone
425-453-4597
Title
Real Estate Broker
Brokerage Address
2000 124th Avenue Northeast
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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