Multi-family land around Seattle

[Darren Chang]

I'm thinking of buying a vacant land (or a rundown building) and build a small multifamily on it, maybe a triplex or quadplex. Then I will move into one unit and manage the rest as rentals. Any ideas/suggestions on how to locate the land? Areas that you recommend? Any comments on construction, costs, permitting process will be welcome. 

[Michael Haas]

Ah- being an architect makes a difference. Have you done new builds in Seattle at $250/square foot @Adrian Chu or @Darren Chang? Sounds like you’d be willing to throw some sweat equity into this using your architects license, which will probably save a bit of cash as well.

We recently up-zoned huge swaths of many neighborhoods in seattle, so there are a lot of dilapidated buildings in low rise zoning areas that are no longer the highest and best use for the parcel. These come up on the MLS occasionally, and definitely are an opportunity for off market (direct mail, etc) efforts as well.