(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.
| 19 COMMENTS