In 2019, in order to create more housing density and therefore, affordable housing, Seattle retrofitted its policies regarding Accessory Dwelling Units (within an existing house) and Detached Accessory Dwelling Units (a backyard cottage for example). These changes, which were estimated to apply to three-quarters of Seattle’s residential lots, created massive opportunities for property owners and investors looking for ways to generate monthly income.
Here are some of the key components:
- Minimum lot size of 3,200 square feet required for ADU
- Two ADUs permitted per lot (when parameters for green construction and income-eligible requirements met). For example, an ADU attached to the house and a DADU in the backyard.
- Maximum ADU size 1,000 sq feet
There are two key components that make ADUs especially attractive:
- No residency requirement. That means that the property owner does not need to live on site which essentially allows the unit to be treated like a multi-plex in terms of income.
- No requirement for off-street parking
This is just an overview. There are a lot of other parameters to be met including zoning requirements for different types of ADUs, utility hook-up, height requirements, floor-area ratio limits, setbacks, occupancy limits, and more.
While we are not ADU or DADU developers, from an investment standpoint, we see the potential in these alternative means of housing. Here is how we can help:
- Pair you up with an ADU development specialist
- Assist you with valuing a property that includes ADUs and DADUs
- Market your ADU/DADU property to not only the general public, but to a large pool of investors
- Manage your ADU/DADU whether it be a short-term or long-term rental
ADUs and DADUs = value. Let us help you plan for it, manage it, and get top dollar when you sell.
