Exceptional redevelopment opportunity in the heart of Mountlake Terrace. This 7,800+ SF corner property is located just blocks from the Mountlake Terrace Link light rail station and downtown, with desirable BC/D zoning offering significant long-term potential. The property is currently improved with an existing residence and occupied by a long-standing month-to-month tenant, providing income while a buyer evaluates future plans. An excellent opportunity for a developer, investor, or owner looking to secure a strategically located property in one of Mountlake Terrace's evolving transit-oriented areas. Buyer to verify zoning, development potential, permitted uses, and all information to buyer's satisfaction. Please do not disturb tenant or walk the property without prior permission.
Active
Listed by: John L. Scott, Inc. • Kimberly Shaeffer
$799,000
5507 240th Street SW, Mountlake Terrace, WA 98043
3beds
1,100sqft
Single Family Residence
Built in 1950
7,840 Square Feet Lot
$565,000 Zestimate®
$726/sqft
$-- HOA
What's special
- 13 days
- 168
- 5
Zillow last checked:
Listing updated:
Listed by:
Kimberly Shaeffer,
John L. Scott, Inc.,
Andy Sather,
John L. Scott, Inc.
Source: NWMLS as distributed by MLS GRID,MLS#: 2572307
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 1
- Full bathrooms: 1
- Main level bathrooms: 1
- Main level bedrooms: 3
Bedroom
- Level: Main
Bedroom
- Level: Main
Bedroom
- Level: Main
Bathroom full
- Level: Main
Dining room
- Level: Main
Family room
- Level: Main
Kitchen without eating space
- Level: Main
Living room
- Level: Main
Heating
- Baseboard, Electric
Cooling
- None
Features
- Flooring: Vinyl Plank
- Basement: None
- Has fireplace: No
Interior area
- Total structure area: 1,100
- Total interior livable area: 1,100 sqft
Property
Parking
- Total spaces: 1
- Parking features: Driveway, Attached Garage
- Has attached garage: Yes
- Covered spaces: 1
Features
- Levels: One
- Stories: 1
- Has view: Yes
- View description: Territorial
Lot
- Size: 7,840 Square Feet
- Features: Corner Lot, Paved
- Topography: Level
Details
- Parcel number: 00498000101000
- Zoning: BC/D
- Zoning description: Jurisdiction: City
- Special conditions: Standard
Construction
Type & style
- Home type: SingleFamily
- Architectural style: 1 Story
- Property subtype: Single Family Residence
Materials
- Cement/Concrete
- Roof: Metal,Torch Down
Condition
- Year built: 1950
Utilities & green energy
- Sewer: Sewer Connected
- Water: Public
Community & HOA
Community
- Subdivision: Mountlake Terrace
Location
- Region: Mountlake Terrace
Financial & listing details
- Price per square foot: $726/sqft
- Tax assessed value: $589,400
- Annual tax amount: $4,769
- Date on market: 8/18/2026
- Cumulative days on market: 16 days
- Listing terms: Conventional
Estimated market value
$565,000
$509,000 - $622,000
$2,914/mo
Price history
| Date | Event | Price |
|---|---|---|
| 8/19/2026 | Listed for sale | $799,000+255.1%$726/sqft |
Source:  NWMLS as distributed by MLS GRID #2571324 Report a problem | ||
| 10/28/2023 | Listing removed | -- |
Source: Zillow Rentals Report a problem | ||
| 10/2/2023 | Listed for rent | $2,600$2/sqft |
Source: Zillow Rentals Report a problem | ||
| 9/18/2023 | Listing removed | -- |
Source: Zillow Rentals Report a problem | ||
| 9/9/2023 | Listed for rent | $2,600$2/sqft |
Source: Zillow Rentals Report a problem | ||
| 11/30/2005 | Sold | $225,000+50%$205/sqft |
Source: Public Record Report a problem | ||
| 8/22/2005 | Sold | $150,000$136/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $4,769 +0.9% | $589,400 +0.9% |
| 2024 | $4,726 -0.3% | $584,400 -0.6% |
| 2023 | $4,741 +26% | $587,900 +11.9% |
| 2022 | $3,763 -1.9% | $525,500 +19.3% |
| 2021 | $3,834 +9.9% | $440,500 +9.3% |
| 2020 | $3,490 +17.8% | $402,900 +34.3% |
| 2019 | $2,962 | $300,000 +22% |
| 2018 | -- | $246,000 +17.8% |
| 2017 | $2,534 +20.6% | $208,900 +1.8% |
| 2016 | $2,101 | $205,300 +7.3% |
| 2015 | $2,101 +3.2% | $191,400 +8.7% |
| 2013 | $2,036 | $176,100 |
| 2012 | -- | -- |
| 2011 | -- | -- |
| 2010 | -- | -- |
| 2009 | -- | -- |
| 2008 | -- | -- |
| 2007 | -- | -- |
| 2002 | -- | -- |
| 2001 | $1,567 -0.5% | $119,000 |
| 2000 | $1,575 | $119,000 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: 98043
- $608,2003 bd3 ba1.7k sqft5506 240th St SW #A103, Mountlake Terrace, WA 98043Off Market
- $750,0003 bd3 ba1.8k sqft5501 240th St SW UNIT A, Mountlake Terrace, WA 98043Sold
- $610,0003 bd3 ba1.7k sqft5502 240th St SW #C-304, Mountlake Terrace, WA 98043Sold
- $465,3002 bd-- ba1.4k sqft5506 240th St SW #A105, Mountlake Terrace, WA 98043Off Market
Similar homes
- $819,9003 bd2 ba1.3k sqft5408 240th Street SW, Mountlake Terrace, WA 98043Active
MLS ID #2575449, Jeffrey Strowbridge. NWMLS as distributed by MLS GRID - $799,9503 bd2 ba1.5k sqft21801 51st Avenue W, Mountlake Terrace, WA 98043Active
MLS ID #2545442, Porter Balke. NWMLS as distributed by MLS GRID - $625,0003 bd1 ba1.2k sqft23106 67th Place W, Mountlake Terrace, WA 98043Active
MLS ID #2575487, Dan Rowley. NWMLS as distributed by MLS GRID - $644,9503 bd2 ba1.3k sqft23504 58th Avenue W, Mountlake Terrace, WA 98043Active
MLS ID #2560634, Terry Kildal. NWMLS as distributed by MLS GRID
