5507 240th Street Sw, Mountlake Terrace, WA 98043

Mountlake Terrace
Local realty services provided by:Better Homes and Gardens Real Estate Northwest Home Team
Listed by: kimberly shaeffer, andy sather
Office: john l. scott, inc.206-527-0700
MLS#:2596774
Source:NWMLS
5507 240th Street Sw,Mountlake Terrace, WA 98043
$749,000
  • 3 Beds
  • 1 Baths
  • 1,100 sq. ft.
  • Single family
  • Active

Price summary

  • Price:$749,000
  • Price per sq. ft.:$680.91

About this home

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 the tenant or walk the property without prior permission.

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Home facts

  • Year built:1950
  • Subdivision & Development:Mountlake Terrace
  • Listing ID #:2596774
  • Updated:October 30, 2026 at 12:10 PM

Rooms and interior

  • Bedrooms:3
  • Total bathrooms:1
  • Full bathrooms:1
  • Flooring:Vinyl Plank
  • Bedroom Description:Main Level Bedrooms : 3
  • Living area:1,100 sq. ft.

Heating and cooling

  • Heating:Baseboard

Structure and exterior

  • Roof:Metal, Torch Down
  • Year built:1950
  • Building area:1,100 sq. ft.
  • Lot area:0.18 Acres
  • Lot Features:Corner, Paved
  • Construction Materials:Cement/Concrete Exterior Finish
  • Foundation Description:None
  • Levels:1 Story

Schools

  • High school:Buyer To Verify
  • Middle school:Buyer To Verify
  • Elementary school:Buyer To Verify

Utilities

  • Water:Public
  • Sewer:Sewer Connected

Finances and disclosures

  • Price:$749,000
  • Price per sq. ft.:$680.91
  • Tax amount:$4,769 (2026)

Parking

  • Total parking spaces:1
  • Parking description:Attached Garage, Driveway
  • Garage:Yes
MLS LogoListings courtesy of Northwest MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of October 30, 2026. 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. Listing information is provided for consumers' personal, non-commercial use, solely to identify prospective properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Information deemed reliable but not guaranteed. Copyright © 2026 MLS GRID. All Rights Reserved.

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