About this home

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,

Interior features

Exterior features

Appliances

Schools

Property details

Heating

Heat Pump

Cooling

Heat Pump

Flooring

Softwood, Carpet

Parking

Driveway, Off Street, RV Parking

View

City, Territorial

Lot

Dead End Street, Open Space, Value In Land

Water source

Public

Sewer

STEP Sewer

Levels

One

Costs

Price / sq ft

$825

Annual taxes

$5,211 (2025)

Location

University Place, WA 98466