Rare development opportunity for Townhome Builder or Value-Add Investor in the heart of the South Lake Union/Eastlake corridor. Prime lot offers sweeping, protected views of Lake Union, the Seattle Skyline, and the Olympic Mountains. Able to accommodate four to five new townhomes. Two larger townhomes could be built off the alley and three smaller ones facing Lake Union (or vice versa). Average unit size equals one thousand seven hundred ninety-three square feet. The property currently houses a very clean, well-maintained, solid income producing four-plex generating healthy returns while you navigate the permitting process. Landlord has never increased rent on a tenant. Zero vacancy. Outstanding tenants. Rents below market rate. Each unit features one bedroom, one bathroom, fireplace, washer/dryer, dishwasher, hardwood flooring, and parking. Large living room could easily accommodate a second bedroom in each unit. View photos shot from future third to fourth floor/roof top deck of this building. Located on bus line and within walking distance to Amazon, Google, and the life sciences hub. Five off-street parking spaces in rear. Zoned LR2(M), allowing for up to four stories with rooftop decks. Ideal opportunity for investor, builder or owner/occupant!