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Provided by NWMLS, Listed by Shelly Xiuping Hu, 425-442-9501 at Globenex Realty
3 Beds
2 Baths
2,500 sqft

$1,599,000

5008 NE 2nd Street, Renton WA, 98059

Price per sqft$639.60
Built in1983
Property size2,500 sqft
Property typeResidential

Overview

Active

Updated 2 weeks ago

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!

$10,638/mo

Est. mortgage payment based on a $1,599,000 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Additional information

MLS® ID
2523358

Interior Features

Bedrooms
3
Bathrooms
2
Heating
Yes
Basement
No

Exterior Features

Lot Size
1.15 Acres

Other Property Details

Taxes
$11,904
Tax Frequency
Annually
Garage
Yes
55+/Senior Community
No
MLS provider logo

Provided by NWMLS, Listed by Shelly Xiuping Hu, 425-442-9501 at Globenex Realty

The IDX display presents information sourced from the Northwest Multiple Listing Service as of 10/9/2026. The data is intended for personal, non-commercial use and should not be used for any other purpose except to identify potential properties for purchase. While the MLS data displayed is generally deemed reliable, it is NOT guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. The property locations displayed on any map are merely best approximations and exact locations should be independently verified. Based on information submitted to the MLS GRID as of 10/9/2026 at 7:17 AM UTC . 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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Data last updated on 10/9/2026 at 7:17 AM UTC 

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