Rare development opportunity in Bellevue offering two parcels with a combined 17,000+ sq. ft. in the highly sought-after Newport Shores. This exceptional site presents partial water-view potential and strong upside for higher-density redevelopment, making it an attractive option for builders and developers seeking maximum land value. The existing residence is fully rentable, providing immediate income while pursuing design, permitting, and redevelopment plans. The seller has invested over $100,000 over the years for subdivision. Utilities are largely in place, with water, sewer, and electricity already on site; gas is available at the street, simplifying future development planning. Top-rated Bellevue School District. Prime location just minutes from I-405 and I-90, as well as nearby amenities including Factoria Mall, T&T Supermarket, the T-Mobile Corporate Office, numerous parks, and Downtown Bellevue. An outstanding opportunity to secure land in one of Bellevue’s most desirable neighborhoods with strong development potential.
Active
Listed by: Windermere Real Estate/M2, LLC • Miao Sui
$2,800,000
3562 120th Avenue SE, Bellevue, WA 98006
3beds
1,990sqft
:
Get pre-qualified$17,570/mo
Single Family Residence
Built in 1965
0.39 Acres Lot
$2,627,600 Zestimate®
$1,407/sqft
$-- HOA
What's special
Partial water-view potential
- 137 days |
- 115 |
- 3 |
Zillow last checked:
Listing updated:
Listed by:
Miao Sui,
Windermere Real Estate/M2, LLC
Source: NWMLS as distributed by MLS GRID,MLS#: 2488937
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 2
- Full bathrooms: 2
- Main level bathrooms: 1
- Main level bedrooms: 2
Primary bedroom
- Level: Main
Bedroom
- Level: Lower
Bedroom
- Level: Main
Bathroom full
- Level: Main
Dining room
- Level: Main
Entry hall
- Level: Main
Kitchen without eating space
- Level: Main
Living room
- Level: Main
Utility room
- Level: Lower
Heating
- Fireplace, Forced Air, Heat Pump, Electric
Cooling
- None
Features
- Flooring: Hardwood, Vinyl, Carpet
- Windows: Skylight(s)
- Basement: Partially Finished
- Number of fireplaces: 1
- Fireplace features: Wood Burning, Main Level: 1, Fireplace
Interior area
- Total structure area: 1,990
- Total interior livable area: 1,990 sqft
Property
Parking
- Total spaces: 1
- Parking features: Attached Garage
- Has attached garage: Yes
- Covered spaces: 1
Features
- Levels: One
- Stories: 1
- Entry location: Main
- Patio & porch: Fireplace, Skylight(s)
- Has view: Yes
- View description: Lake, Partial, Territorial
- Has water view: Yes
- Water view: Lake
Lot
- Size: 0.39 Acres
- Features: Paved, Value In Land, Cable TV, Deck, Fenced-Partially, High Speed Internet
- Topography: Sloped
Details
- Parcel number: 5448300285
- Special conditions: Standard
Construction
Type & style
- Home type: SingleFamily
- Architectural style: 1 Story w/Bsmnt.
- Property subtype: Single Family Residence
Materials
- Wood Siding
- Foundation: Poured Concrete
- Roof: Composition
Condition
- Year built: 1965
- Major remodel year: 1965
Utilities & green energy
- Sewer: Sewer Connected
- Water: Public
Community & HOA
Community
- Subdivision: Newport Shores
Location
- Region: Bellevue
Financial & listing details
- Price per square foot: $1,407/sqft
- Tax assessed value: $1,026,000
- Annual tax amount: $7,775
- Date on market: 3/11/2026
- Cumulative days on market: 137 days
- Listing terms: Conventional
Estimated market value
$2,627,600
$2.50M - $2.76M
$4,032/mo
Price history
| Date | Event | Price |
|---|---|---|
| 3/11/2026 | Listed for sale | $2,800,000+739.3%$1,407/sqft |
Source:  NWMLS as distributed by MLS GRID #2488937 Report a problem | ||
| 5/5/2003 | Sold | $333,600$168/sqft |
Source: NWMLS as distributed by MLS GRID #23037115 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $7,641 +9.5% | $1,026,000 +8% |
| 2024 | $6,978 +9.3% | $950,000 +16.6% |
| 2023 | $6,383 -8.6% | $815,000 -17.3% |
| 2022 | $6,982 +23.2% | $985,000 +43% |
| 2021 | $5,667 +36% | $689,000 +46.9% |
| 2020 | $4,166 +4.5% | $469,000 +2.9% |
| 2019 | $3,987 +0.8% | $456,000 -5% |
| 2018 | $3,955 +8.5% | $480,000 +21.5% |
| 2017 | $3,644 +34.9% | $395,000 +11.9% |
| 2016 | $2,701 | $353,000 +9.3% |
| 2015 | $2,701 | $323,000 +6.6% |
| 2014 | $2,701 | $303,000 +12.6% |
| 2013 | $2,701 | $269,000 +14.5% |
| 2012 | -- | $235,000 +6.8% |
| 2011 | -- | $220,000 -4.8% |
| 2010 | -- | $231,000 |
| 2009 | -- | $231,000 +7.8% |
| 2007 | -- | $214,200 -13.6% |
| 2006 | -- | $248,000 +8.3% |
| 2005 | -- | $229,000 +28.7% |
| 2001 | $1,704 -7.4% | $178,000 +2.3% |
| 2000 | $1,839 | $174,000 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
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Neighborhood: Newport Shores
Nearby schools
GreatSchools rating
- 9/10Newport Heights Elementary SchoolGrades: PK-5Distance: 1.5 mi
- 10/10Tyee Middle SchoolGrades: 6-8Distance: 1 mi
- 10/10Newport Senior High SchoolGrades: 9-12Distance: 0.7 mi
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