A 128-square-foot place is going for $50,000 in Seattle. But it’s not what you think
Living in the city doesn’t come cheap.
If you’re looking for a place to live with a set home price in mind, it should be known that the average home value in the Seattle metro area in Washington is roughly around $1 million, according to KING 5 News.
Which is probably why one listing regarding a $50,000 space in a building in the Capitol Hill neighborhood is getting so much attention. However, it’s not an apartment or condo.
It’s a parking spot.
“It is a serious listing,” realtor Jimmy Chuang told KING 5 News. “I don’t think it’s a common thing. This is actually the first time that I’ve ever seen it.”
According to the listing on MyWindermere, the 128-square-foot space is a “once-in-a-lifetime opportunity” to own the spot in the parking garage of The Marq Condominium.
“Spacious designated parking #15 in a secure garage, easily fit a full-sized sedan,” the listing says. “24/7 Access. Pet-friendly building with no rental cap and high association reserves. Mere steps from lively capitol hill and everything the city has to offer! Parked and enjoy the hippest bars, restaurants, cafes, and nightlife. Light rail Station, Amazon Go, and Whole Foods Market are just a few blocks away.”
But what if you don’t live in the building?
Not a problem.
“Great investment for additional city parking or feel free to rent out.”
Oddly enough, this isn’t the first time a parking spot has gotten attention for going up on the real estate market.
In 2021, a someone listed one parking space for a whopping $375,000 in Boston’s South End, according to the Boston Herald. The price tag was “more expensive than the average asking price for a single-family home in New Hampshire, which was about $362,900,” the Herald wrote at the time.
Compared to that figure, the price on this Seattle spot seems tame, even though the spot doesn’t include, you know — a place to live.
“I do get a lot of calls and emails just to verify what exactly is this situation, because it’s pretty rare to have a parking spot that’s in a condo building that is for sale that’s not attached to a unit,” Chuang said.
This story was originally published February 25, 2022 at 11:52 AM with the headline "A 128-square-foot place is going for $50,000 in Seattle. But it’s not what you think."