Seattle Infill Development — 11,900 SqFt R18 Lot, Subdivide to 3, $2M Exit

King County infill development opportunity on a large 11,900 sqft lot, R18 zoning (18 units/acre), with public water and sewer available (sewer in street). This is a developer play, not a straight flip. Currently an 840 sqft 1 bed / 1 bath home (appraised $403K). Highest and best use: subdivide into 3 lots, renovate and resell the existing home (light conversion to 2 bed / 1.5 bath), and build two ~2,500 sqft new-construction homes (4 bed / 2.5 bath target) on the new lots. The economics are in the development, not the flip. Flip alone: ~$550K ARV on $50–75K rehab, roughly break-even. Full development exit: ~$2M ARV against ~$975K construction, modeling to $500–600K profit at a 25–30% ROI, contingent on securing subdivision and permits. Terms: $425,000 asking, $20K non-refundable EM, close July 20th or sooner. Assessor link and photos available. The profit thesis depends on subdividing the parcel and building under R18. Buyer to independently verify zoning, subdivision feasibility, buildable units, utility connections, permit timeline, construction costs, and all ARVs. Estimates only, not guaranteed financials.