10
See all 10 photos
Listed by:Globenex Realty • Shelly Xiuping Hu
$1,599,000
Est. payment /mo
3 Beds
2 Baths
2,500 SqFt
New
5008 NE 2nd ST Renton, WA 98059
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Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 2,500 sqft
Price per Sqft $639
Subdivision Highlands
MLS Listing ID 2523358
Style 10 - 1 Story
Bedrooms 3
Full Baths 2
Year Built 1983
Annual Tax Amount $11,904
Lot Size 1.150 Acres
Property Sub-Type Single Family Residence
Property Description
ATTENTION BUILDERS & SAVVY INVESTORS! A rare, high-yield opportunity in the heart of the sought-after East Renton Highlands. This premier 1.16-acre flat parcel offers the perfect "hybrid" investment: a turnkey, income-producing rental with massive, shovel-ready development upside. CASH FLOW WHILE YOU PERMIT: The existing home was fully remodeled in 2022. It currently generates $3,800/month on a m-to-m lease. This consistent income covers your holding costs while you permits and platting. DEVELOPMENT POTENTIAL & HB 1337 DENSITY: The heavy lifting is done! Over $200,000 has been invested in design, civil engineering, and city coordination for a 6-lot single-family subdivision. Take your ROI even further by leveraging Washington's HB 1337—the potential exists to design up to 3 units per lot, creating a high-density, 18-unit community in a market starved for inventory. "SHOVEL-READY" ADVANTAGE: 100% of the civil engineering was previously completed and approved. While it expired last year, the comprehensive files are ready for a streamlined revival. Skip the grueling 2-year design phase and jump straight into a high-margin project. PRIME TECH CORRIDOR LOCATION: Completely flat, usable lot abutting newer construction on all sides. Enjoy a seamless commute with easy access to I-405, Hwy 169, and major tech hubs. Just minutes from The Landing, Gene Coulon Park, and top-tier Highlands shopping. Bring your crew and unlock the maximum value of this Highlands gem!
Location
State WA
County King
Area 350 - Renton/Highlands
Rooms
Main Level Bedrooms 3
Interior
Fireplaces Type Electric
Fireplace false
Exterior
Exterior Feature Wood
View Y/N No
Roof Type Composition
Garage Yes
Building
Story One
Sewer Septic Tank
Water Public
New Construction No
Schools
School District Renton
Others
Senior Community No
Acceptable Financing Cash, Conventional, Farm Home Loan, FHA
Listing Terms Cash, Conventional, Farm Home Loan, FHA
"Three Trees" icon indicates a listing provided courtesy of NWMLS.