$5.8M floating home with basement hits Seattle market

$5.8M floating home with basement in Fremont now on the market

A $5.8M floating home with a basement in Fremont is currently on the market, and if it sells at that price, it’ll be the second-highest floating home to sell in Seattle.

SEATTLE - A $5.8M floating home with a basement in Fremont is currently on the market, and if it sells at that price, it’ll be the second-highest floating home to sell in Seattle, according to Jay Kipp, a managing broker with Realogics Sotheby’s International Realty.

The two-bedroom, three-bathroom home stands at 2,486 square feet and comes with 270-degree views, along with a basement that’s currently structured as a utility room.

"Basements are no longer permitted in new construction floating homes," Kipp said. "The regulations are quite strict of course, we have salmon and whales in our waterways, so environmental regulation takes priority."

In addition to those regulations though, he adds, some of the shoreline is just too shallow.

"So those floating homes that do have basements are traditionally end of dock or second to end of dock with wonderful exposure," Kipp said.

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The home also comes complete with a rooftop deck, kitchen, master bedroom, and even a fireman’s pole. While it’s watered in luxury, the concept of floating homes has evolved significantly over the years.

"Originally, the floating home communities were, I don’t want to say low income, but it wasn’t the superior housing of the day. Today, with the scarcity of waterfront, access to all the wonderful water that we have here in Seattle, Puget Sound, the lifestyle component has led to a dramatic change in the appeal of water living," Kipp said.

He adds, floating homes are just one aspect of the current housing market, but it’s a very Seattle-specific part.

"If you’re coming from really anywhere other than Sausalito in the Bay Area which has a smaller floating home community, then the concept is unfamiliar, maybe a little bit novel," Kipp said.

He told FOX 13 he has two floating home listings on the market. The other listing is the largest floating home on Lake Union and stands at more than 4,000 square feet, but it's less in price and listed at $3.9M because it’s a leased moorage. Kipp says the highest priced floating home to sell to date was $6.25M in Eastlake.