Wholesale

Burien MF Infill Play: 15 Units, 38% Margin, $100K Assignment”

Burien, WA 98168, USA 0

$9,000,000 After Repair Value -
$385,000 Asking Price -
$0 Cost of Repairs =
$8,615,000 Potential Profit

Property Details

Asking Price $385,000

After Repair Value $9,000,000

Costs of Repairs $0

Potential Profit $8,615,000

Living Area N/A

Property Type Multi-Family

Bedrooms 0

Bathrooms 0

Half Bathrooms N/A

Parking 1

Listed with Agent 1

Property Description

Wholesaler’s Special: 0.734-Acre Infill Site in Burien – Zoned RM-18/RM-24 – Entitled for 15 Units – GDV $9.95M Address: 12235 Roseburg Ave S, Burien, WA 98168. Zoning: RM-18/RM-24 (Medium-High Density Residential, up to 15 du/ac on north half & 24 du/ac on south half) Lot Size: 0.734 acres (32,000 sf) Build Area: 19,500 sf (15 × 1,300 sf units). Why You’ll Love This Deal: • Zoning Advantage: RM-18/24 allows small-lot apartments, townhomes or condos—no rezoning or CUP required. • Turnkey Entitlements: Utilities stubbed at street + adjacent sewer tie-in already confirmed. • Best-In-Market Costs: GC on neighboring project delivered at $250/sf hard ? $300/sf all-in. • Mouth-Watering Margins: $374/sf all-in cost vs. $510/sf comps ? 38% envelope spread ? $3.8M gross profit • Strong Cash Flow: Stabilized NOI of $341K/yr ? 5.6% cap rate on $6.14M cost; DSCR 1.30× • Seller-Friendly Structure: “As-is” sale, minimal contingencies, low earn­­est deposit Investor Snapshot: • Land Price: $285,500 • Assignment Fee: $100,000 • Total Investor Outlay: $385,500 • GDV at Exit: $9,945,000 • Gross Margin: $3,809,500 (38.3% of GDV)

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Brandon Wellington

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