FOLLOWUP: Bellevue firm buys ‘development site’ at 4501 38th SW for $4.4 million

(King County Assessor’s photo)

Back in June, we reported that 4501 38th SW – long an automotive-business site – was up for sale, listed at $4.5 million, pitched on its own website as a 14,375-square-foot “development site” that could allow “78 multi-family units at an average of 650 SF per unit or a possible 110 hotel units at 420 SF.” It’s been sold for $4.4 million, as first reported by the Daily Journal of Commerce, and verified on the King County Assessor’s Office website. The buyer is an LLC formed for the transaction; names in the state corporation-information file for the LLC trace to Bellevue-based development firm Run Yong Investment. RYI’s website describes the firm as “an active real estate development group, structuring joint ventures with capital partners to conceive and create sustainable, functional, community-centric living spaces throughout Washington and Oregon.” We have a message out inquiring about plans for the 38th SW site, which is zoned NC3-65.

Brewmeister November 3, 2017 (10:30 am)

I just hope Advance Auto Parts reopens somewhere else close by. That’s the only Auto Parts store in the area unless you go down to White Center.

Hate to see Service King get displaced as well. I’ve have a couple cars go through there. Before and after they took over.

coffeedude November 3, 2017 (11:16 am)

Hotel would be nice. Another apartment, sucks big time.

Heather November 3, 2017 (11:33 am)

Phew! Someone just retired with that sale.

Qc November 3, 2017 (11:42 am)

Nice! It’ll be good to see this part of Fauntleroy transition to a denser, more pedestrian friendly area.

geographer November 3, 2017 (1:57 pm)

Agreed. With the Whitaker, Spruce, LIV Fauntleroy, the proposed property across from Whitaker, and now this, there will be a good chance to make that corridor a little more active for pedestrians.
- Meyer November 5, 2017 (7:13 am)
  
  Also agree. It is smart to keep the density close together so it can reach critical mass and provide all the necessary amenities within walking distance or short bus ride. More people means more amenities opening up.

dsa November 3, 2017 (11:58 am)

Sad day. Will just have to drive further now.

WSB November 3, 2017 (12:00 pm)

Please note that development plans take a long time to go through the system – longer than ever right now – so even if there is an imminent plan (nothing in the system yet; records say the sale just closed a couple weeks ago) it will likely be quite some time before the site would be vacated. – TR

Craig November 3, 2017 (1:24 pm)

The C line is just going to get more and more packed. Love all the folks coming to WS and their energy and density, but hope we can get them in and out of the city fast enough.

Second missing the auto parts store. The shop on Roxbury should be the spill over business.

Tim November 3, 2017 (3:15 pm)

Man, Seattle is getting so crowded. Th C line is at capacity, the 56 is full by the time it reaches California, the lots at Met Market and Safeway are both full to capacity frequently. I’m starting to think about leaving Seattle behind.

Mike November 4, 2017 (8:48 am)

c-line is over capacity, the bus is intended to seat less than 60 passengers and is packed with over 100. It’s not just over capacity, it’s completely unsafe. All those people standing in the door ways, one side impact and they die. The busses are not designed to carry that many passengers safely. It’s ridiculous.
- bolo November 4, 2017 (11:13 pm)
  
  Aren’t the accordion buses rated for just under 100 capacity? Like 96 passengers, right?

Seattlite November 3, 2017 (7:36 pm)

Is building an apartment building or a hotel the highest and best use of this property? Just wondering.

geographer November 3, 2017 (11:18 pm)

The site is zoned NC3-65. H&BU is most definitely some sort of mixed-use. It’s interesting to see hotel being marketed, hard to imagine that would be out apartments over retail.

WS Guy November 3, 2017 (8:36 pm)

My bet is we get 200 micro units at 250 sq ft and a mural of a tree. My hope is something better. We’ve had some good projects and some bad ones.

1994 November 3, 2017 (11:37 pm)

Remember the auto parts store located on Roxbury right between the bowling alley and the gas station. They will swap out your wipers if you don’t know how – nice service!!

Heather November 4, 2017 (9:00 am)

You know what? I’d like to work in West Seattle. This is a prime location and rent for a smaller tech business or start up. Can we get another Tango Card over here (meaning professional salary current industry jobs)?

Jill November 4, 2017 (10:52 am)

I’m with Heather! But I’m now depressed thinking how likely that is.

tm November 5, 2017 (6:37 am)

Another Seattle property bought by a foreign (China) investment firm (RYI company overview). I hope the city holds the developer accountable to desires of the community. Is it any wonder why Seattle is becoming more like Vancouver…

Sorry, comment time is over.