Bricks - Investor

Project Details

6 Unit Transitional Brick Townhouse Development

1114 16th Ave, Seattle, WA 98122

This 47 North development community was inspired by the traditional brick apartment buildings that dot the adjacent streets. Drawing upon these buildings but modernized with charcoal brick and accented by reclaimed wood, this project was intended to blend seamlessly with the historic character of the neighborhood.


Project Goals

  • Entitle, build, and sell 6 unit core Capitol Hill townhouse development
  • Utilize significant off-market value to offset increased material cost in order to deliver a building worthy of the neighborhood

Key Investment Highlights

  • Pro Forma Investor Return of _________ percentage was exceeded with actual investor simple returns of ___________ percent (*****FILL IN BLANKS****)
  • Property was sourced directly and purchased in an off-market transaction.
  • Total project duration was 33 months from site acquisition until final unit sale.

By The Numbers

Acquired - 2014

Built/Sold - 2017

Lot - 7,204 SF

Zoning - LR3

Building - 9,120 SF

Investment Duration - 2.5 yrs

Projected Investor Return -

Actual Investor Return -

Interesting Project Fact

This property was purchased from the University Unitarian Church by way of a craigslist advertisement in the Real Estate For Sale By Owners section.

Project Team

Developer: 47 North

Architect: SHW

Contractor: Noren Development

Features of Bricks - Investor