Rare opportunity in the heart of University Place! Take over the Seller's vision for a proposed 16-bed assisted living facility, or explore other development possibilities on this exceptionally positioned property. Seller has already invested substantial time and resources into architectural design, engineering coordination, builder consultation, site planning, and preliminary development work-giving a buyer the opportunity to step into a project with meaningful groundwork already completed. Current schematic plans depict a two-story assisted living building with basement and rooftop deck, rear courtyard, accessible entries, parking, and a lower-level salon/health spa concept. Plans identify approximately 15,443 SF of gross building area on an approximately 18,976 SF / 0.436-acre site, with MU-N 45 zoning and R-4 Condition 2 - Assisted Living.Existing 3-bedroom, 1.5-bath home has been extensively updated with newer kitchen, roof, electrical, plumbing, LVP flooring, siding, and interior/exterior paint. Property has also been used for Airbnb/short-term rental, creating potential interim income while a buyer evaluates future development. Architectural drawings, site plans, and additional reports are available for review. A compelling opportunity for senior housing operators, builders, developers, and investors seeking a University Place location with significant preliminary work already completed. Buyer to independently verify zoning, permitting, feasibility, development costs,
| MLS # | 2573684 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Active |
| Year | 1958 |
| Days On Site | 8 |
| Listing Provided By | Pellego, Inc. | Nova Miraflor |
| Bed(s) | 3 |
|---|---|
| Bath(s) | 2 Total |
| SQ Feet | 1,152 |
| Story(s) | 1 |
| Zoning | UP |
| Acreage | 0.44 |
| Property View | Yes |
| Property | 5495 |
|---|
| State | WA |
|---|---|
| County | Pierce |
| City | University Place |
| Zip Code | 98466 |
| Area | 35 University Place |
| Community Name | University Place |
| School District | Curtis Bridge Pgm |
| Elementary School | Evergreen Primary |
| High School | Curtis Bridge Pgm |
| Listing VS Median (in University Place) | |
Price: $950,000 low | high Med: $675,000 sqft: 1,152 low | high Med: 2,557 $ / sqft: $825 low | high Med: $266 On site: 8 low | high Med: 110.5 | |
| State | WA |
|---|---|
| County | Pierce |
| City | University Place |
| Zip Code | 98466 |
| Area | 35 University Place |
| Community Name | University Place |
| School District | Curtis Bridge Pgm |
| Elementary School | Evergreen Primary |
| High School | Curtis Bridge Pgm |
| Listing VS Median (in University Place) | |
Price: $950,000 low | high Med: $675,000 sqft: 1,152 low | high Med: 2,557 $ / sqft: $825 low | high Med: $266 On site: 8 low | high Med: 110.5 | |