Phinney Ridge: Just Add Water

I’ve been mulling over this one for a few days, trying to reconcile my emotional and practical reactions. My final judgment is that this proto-home would be worth pursuing if the price came down dramatically.

This is an unusual property. It’s zoned L-2 RC (low-rise 2, residential/commercial mix) so it could be either a business or a home. In fact, it used to be both in the past, according to the agent. But now it’s outfitted for an office — and there’s where my practical side stomped on the brakes.

Because the current owners planned to move their graphics business into the space, they put in only a tiny half bath. If you want to make it into your home, you’ll have to add a shower and a kitchen. That’s going to cost money.

All I can say is, consult with a plumber before you make an offer. City codes dictate what you have to do with wastewater and, depending on the drains, siting and piping the shower, dishwasher, sink, and so forth may require creative thinking or extra dollars.

Now, why would you want to go to all that trouble? That’s where my emotional side ruled. It’s an unusual, charming, space with nearly 11-foot ceilings and a loft-like feel. If you’re an artist (or just play one on TV), this kind of height and openness is a dream.

But this dream is expensive. With a floor area just shy of 600 square feet, the cost ratio works out to approximately $640 per square foot. That’s chokingly steep in an area where you can get a finished condo with 50 percent more space for $100,000 less. The price needs to drop a lot before my practical side would be willing to let loose my creative impulses.

STATS:
Neighborhood: Phinney Ridge
Asking: $380,000
Address: 1414 NW 70th St., Seattle, WA 98117
Living square footage: appx. 591. Lot size: 1064 sq. ft. (KCR)
Bedrooms: 0 Baths: 0.5
Last sale price: $235,000 (May 2005)
MLS#: 26190457
Click here for detailed listing.