The last hot piece of real estate in Seattle – that’s for sure – is a parking spot.
The 130-square-foot parking lot under the Belltown condominium building sold out on Wednesday for cool $ 56,000.
Real estate agent Jimmy Chuang said the former kiosk owner bought a space in the Seattle Heights condominium garage because he lived nearby and needed parking for an extra car.
According to King County property documents, he purchased it in 2015 for $ 42,750.
When he moved, he rented a place for about $ 225 a month until he decided to sell.
The location – just a few blocks from Pike Place Market and an area with little street parking – is especially desirable as it is in a guarded parking lot with 24-hour access, Chuang said.
The list was published in mid-May, and in one of the photos was parked DeLorean near a vacant spot.
Cost of the issue: $ 53,500. Sales statement: “Imagine never having to look for a parking space again!”
Chuan said that since placing the parking space in the network he has received about three to four calls a day. Two proposals were eventually made, Chuan said Friday afternoon.
In the county where c The average home price has only reached $ 1 millionsome may view the sale as a logical product of a competitive housing market, others as another sign of deteriorating affordability in the city.
In recent months, home sellers in the region have seen offers for cash above the asking price. This parking space is no exception.
This is the second time Chuang is selling a parking space in Seattle. Earlier this year, parking space in a garage in a Marq condominium near Seattle’s Capitol Hill sold for $ 38,000. The asking price was $ 50,000. At the time, people were calling asking if the list was valid.
Chuan said he does not intend to become a real estate agent for parking.
“I welcome the opportunity. It was not a niche that I deliberately tried to focus on, but after these two transactions and a few requests I know much more, ”he said.
According to Chuang, Seattle Heights on Second Avenue is a rare case where the amount of parking exceeds the demand of tenants. Sales of parking spaces are very rare and are often combined with sales of apartments.
“I think it will show buyers that it’s important to buy a property with a parking space because it will better keep its value,” he said.
The condominium building is listed 17 additional parking spaces $ 60,000 each. Property taxes for the recently sold space will be $ 253 a year, according to the county.
While the sale price may seem alarming, parking spaces in other U.S. cities are sold even more expensive.
This was reported in 2020 by the Seattle Post-Intelligencer parking space in San Francisco sold for $ 100,000. In the same year, an average parking spot in New York was about $ 280,000, according to The New York Times.
Seattle Times correspondent Heidi Grover contributed to this report.