7822 NE Lake City Way Way NE, Seattle, WA 98115 (MLS # 2508699)
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Listing provided courtesy of Northwest MLS; Kelly Right RE of Seattle LLC
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ATTN Developers, Builders, & Investors! An exceptional, high-density development opp a/w in Lake City urban corridor. Offer for the first time, 7818 & 7822 Lake City Way combined, near-level ~9,000 SF footprint primed for a mid-rise, mixed-use project. Featuring robust C1-55 zoning w/ an allowable 3.75 FAR, provides a clear, predictable pathway to construct. a 6-story bldg. Prelim Feasibility highlights an ideal yield of up to 42 RES units (suited for studios/1-bdrm) ground-floor commercial use. Take advantage of Seattle's 4-foot gnd-fl height bonus to max. ceiling & views, utilizing UG parking entry. Strong local rental demand, prime eligibility for Seattle's 12 year Multi-family Tax Exemption (MFTE) program to max. your post-stabilization yields. while you clear your master use permits (MUP). Buyer to verify all feasibility and zoning constraints to their satisfaction. Total Lot Size: Approx. 9,000 SF (Combined dual-parcel assemblage) Zoning: C1-55 (Commercial 1, 55' base height limit) Development Capacity: Up to 33,750 gross buildable SF under a 3.75 FAR Pro-Forma Optimization: High-velocity rental sub-market with excellent financial metrics leveraging Seattle's 12-year MFTE property tax exemption.6-story building featuring ground-floor commercial retail and 5 levels of multifamily housing (up to 42 units). Covered Land Play: Existing residential structures offer immediate holding rental cash flow during the architectural and permitting phases.
| LAST UPDATED | 6/14/2026 | TRACT | Ravenna |
|---|---|---|---|
| YEAR BUILT | 1925 | COMMUNITY | Ravenna |
| COUNTY | King | STATUS | Active |
| PROPERTY TYPE(S) | Single Family |
| Elementary School | Green Lake |
|---|---|
| Jr. High School | Eckstein Mid |
| High School | Roosevelt High |
| PRICE HISTORY | |
| Prior to May 12, '26 | $960,000 |
|---|---|
| May 12, '26 - Jun 14, '26 | $900,000 |
| Jun 14, '26 - Today | $850,000 |
| ADDITIONAL DETAILS | |
| AIR CONDITIONING | Yes |
|---|---|
| APPLIANCES | Dishwasher, Disposal, Dryer, Gas Water Heater, Refrigerator, Washer, Water Heater |
| AREA | 710 - North Seattle |
| BASEMENT | Finished, Yes |
| EXTERIOR | Garden |
| FIREPLACE | Yes |
| GARAGE | Yes |
| HEAT | Baseboard, Electric |
| INTERIOR | Dining Room, Fireplace, French Doors, Water Heater |
| LOT | 4935 sq ft |
| LOT DESCRIPTION | Alley, Paved, Sidewalk |
| LOT DIMENSIONS | 4937 |
| MLS STATUS | Active |
| PARKING | Detached |
| STORIES | Split/Multi Level |
| STYLE | 15 - Multi Level |
| SUBDIVISION | Ravenna |
| TAXES | 11036.6 |
| UTILITIES | Sewer Available |
| VIEW | Yes |
| VIEW DESCRIPTION | Territorial |
TOTAL MONTHLY PAYMENT
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Properties with the 
icon are courtesy of Northwest MLS.
Listings courtesy of Northwest MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of 7/17/26 11:16 AM PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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