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Listed by: Shelly Xiuping Hu (425) 443-5668 , Dan Zhou (425) 387-5988 | Globenex Realty (425) 442-9501
$1,599,000
Monthly Est:$7,959
3 Beds
2 Baths2 full baths
2,500sqft
5008 NE 2nd Street, Renton, WA 98059
$1,599,000
$7,959/moEst:
Get Pre-Approved
Single Family Residence
Built in 1983
$-- HOA
1.15 acres lot
$640/sq.ft
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!
- Houzeo last checked: 12 hours ago
- Listing updated: September 21, 2026 at 4:28 pm
- Source: Northwest Multiple Listing Service | MLS#: NWM2523358
Property Details
Status
Active
Type
Single Family Residence
No. of Stories
-
County
City
Neighborhood
--
Year Built
1983
HOA Fees
-
Finished Area
2,500 sqft
Lot Size
1.15 acres lot
Basement Area
- sqft
MLS Name
Northwest Multiple Listing Service
MLS Number
NWM2523358
MLS Status
Active
Days on Market
142
Cumulative Days on Market
142
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Location
Facts & Features
Rooms
Bedrooms & bathrooms
Bedrooms: 3
Bathrooms: 2
Family Room
Level: Main
Family Room
Level: Main
Kitchen With Eating Space
Level: Main
Dining Room
Level: Main
Bedroom
Level: Main
Bedroom
Level: Main
Bedroom
Level: Main
Bathroom Full
Level: Main
Bathroom Full
Level: Main
Interior
Exterior Features
Wood
Sewer
Septic Tank
Heating
Baseboard, Forced Air
Cooling
None
Construction
Year Built
Year Built: 1983
Home type
Single Family Residence
Roof
Composition
Foundation Details
Poured Concrete
Construction Materials
Wood
Utilities & Energy
Parking Features
Attached Garage
Water Source
Public
Fireplace Features
Electric
Other Features
Subdivision Name
Highlands
Price History
| Date | Event | Price |
|---|---|---|
05/13/2026 Source: | Listed for Sale | $1,599,000 +18.44% $640/sqft |
07/06/2021 Source: | Price Increased | $1,350,000 +45.16% $540/sqft |
06/16/2018 Source: | Sold | $930,000 $372/sqft |
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Based on information submitted to the MLS GRID by Northwest Multiple Listing Service as of Oct 02, 2026, 09:01AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
IDX information is provided exclusively for consumers’ personal, noncommercial use; it may not be used for any purpose other than to identify prospective properties that consumers may be interested in purchasing, that the data is deemed reliable, but is not guaranteed by MLS GRID, and that the use of the MLS GRID Data may be subject to an end-user license agreement prescribed by the Member Participant’s applicable MLS, if any and as amended from time to time. © 2025 Northwest Multiple Listing Service. All Rights Reserved.
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