Mt. Baker Ridge - Investor

Project Details

Renovated Historic Plus 4 New Construction Homes

1136 31 Ave S, Seattle, WA 98144

Historic home built in 1903 to be restored for the 21st century and joined by 4 new construction homes.

  • Walking distance from Mt. Baker retail core
  • At nearly 25K SF of total area, each home has a gracious lot
  • Modern fixtures and lighting
  • Homes have various unique features from private rooftop decks to bunker garages


Project Goals

  • Remove single story addition on existing home in order to add 4 new homes to property instead of the limit of 3 homes considered possible by the market.  This will require careful navigation of the complicated permitting process

Key Investment Highlights

  • Seller financing negotiated to allow time for permitting
  • Expected 40%+ annual return

Pro Formas / Renderings

By The Numbers

Acquired - 2018

Built- 1903 / 2021 

Lot SF - 24,900

Zoning - SF 5000

Total Project SF - 16,000 Est.

Project Breakdown – 4 new construction homes and 1 historic renovation

Investment Type - Spec Build

Investment Duration - 3yrs

Investment Simple Return - 60% Est.

Interesting Project Fact - The property was purchased from only the second owner since it was constructed in 1903 by a man who made his fortune in the Alaskan gold rush.


Developer: 47 North

Architect: SHW

Structural:  Frank Co.

Civil:  TBD

Landscape:  TBD

Features of Mt. Baker Ridge - Investor