$1,599,000
 $8,584 est/mo Sourced by Back At You

5008 NE 2nd Street,Renton, WA 98059

Renton, WA 98059

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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 1337the 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!

Details

MLS #2523358
Listing TypeFor Sale
StyleHouse
Sub-TypeResale
StatusActive
Year1983
Days On Site113
Listing Provided ByGlobenex Realty | Shelly Xiuping Hu

Features

Bed(s)3
Bath(s) 2 Total
SQ Feet2,500
Garage2
Story(s)1
Acreage1.15

Taxes

Property11904

Area Information

StateWA
CountyKing
CityRenton
Zip Code98059
Area350 Renton | Highlands
Community NameHighlands
Listing VS Median (in Highlands)
Price:
$1,599,000
low | high
Med:
$655,000
100% of Average
sqft:
2,500
low | high
Med:
950
100% of Average
$ / sqft:
$640
low | high
Med:
$689
42.20236331918% of Average
On site:
113
low | high
Med:
91
100% of Average
Sourced by Back At You

Market Activity 98059

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Based on information submitted to the MLS GRID as of September 3, 2026 at 9:13:49 AM PDT. 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.

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Learn More About This Property

StateWA
CountyKing
CityRenton
Zip Code98059
Area350 Renton | Highlands
Community NameHighlands
Listing VS Median (in Highlands)
Price:
$1,599,000
low | high
Med:
$655,000
100% of Average
sqft:
2,500
low | high
Med:
950
100% of Average
$ / sqft:
$640
low | high
Med:
$689
42.20236331918% of Average
On site:
113
low | high
Med:
91
100% of Average
Sourced by Back At You
Nearby Listings (Within 1/4 mile)
Price: $1.199M - $1.998M
sqft: 1,500 - 3,000
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335 NE GRAHAM Avenue Property Photo 1
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335 Ne Graham Avenue
Renton, WA 98059
367 Graham Avenue Property Photo 1
$758,500
367 Graham Avenue
Renton, WA 98059
Listing Updated: July 28, 2026 at 8:47:08 AM PDT