This very average home in Sunset Hill — listed as a “1950’s charmer that needs some cosmetic updates” — sold for a little bit more than the asking price of $599,950.
It sold for $1.15 million. That’s 91.7% more than asking.
But forget the house, let’s look at the property. Located at 8370 Loyal Way, it spans 6,000 square feet. A quick check of the zoning map (.pdf) shows the property is just inside the “Lowrise 2” or L2 zone. “A mix of small scale to multifamily housing such as townhouses, rowhouses and apartments are encouraged,” explains the city of Seattle in its definition of LR2.
The home is right next door to an existing 3-story apartment building, which is next door to the Caffe Fiore and Cocina Esperanza building. Both businesses plan to re-open soon.
Location, location, location.
(Thanks to Andrew Kim for helping us track this down. He was not involved in the sale.)