Pacific Crest Real Estate presents an exclusive opportunity to acquire the Arun Apartments Development Site located in the highly desirable East Queen Anne / Westlake neighborhood of Seattle.
This shovel-ready development site offers a rare investment opportunity with pre-approved permitting already in place. The property consists of two contiguous parcels currently improved with two triplex buildings, providing immediate rental income while offering significant redevelopment potential.
The site is strategically located near South Lake Union, Downtown Seattle, and Fremont — three of Seattle’s most prominent employment and lifestyle hubs. Surrounded by established residential communities, retail amenities, and recreational attractions along Lake Union, the property benefits from strong rental demand and long-term investment stability.
The approved development plan allows for the construction of five modern four-story rowhouses, eliminating the typical lengthy permitting process and allowing investors to move directly into development.
This asset provides both current cash flow and exceptional future development potential in one of Seattle’s most supply-constrained multifamily submarkets.
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Pacific Crest Real Estate provides expert multi-family investment sales and property management, helping clients grow wealth while building vibrant Seattle communities.
