$1,650,000
Est. $8,361/mo5903 244th Street Sw, Mountlake Terrace, WA 98043
• Listed 2026-04-07•38 days on market
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Positioned at the gateway to Mountlake Terrace, just off I-5 and adjacent to the Gateway Development and newly constructed Terrace Station—with the 244th Light Rail station arrived in 2024—this property offers a rare investment and redevelopment opportunity. The site features an existing two-story office building fully leased to eight tenants across two tax parcels, with abundant on-site parking. Its level topography and prominent location—bordered by streets on three sides—enhance both accessibility and visibility. Zoning supports future redevelopment for up to 18 residential units along with approximately 2,000 square feet of prime ground-floor retail space, as indicated by a recent massing study. The current income stream provides a stable hold during entitlement or a solid long-term investment option.
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5903 244th Street Sw, Mountlake Terrace, WA 98043
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MLS GRID Disclaimer
Based on information submitted to the MLS GRID as of May 4, 2026 at 11:11pm (date and time MLS GRID Data was obtained). 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 courtesy of Northwest Multiple Listing Service (NWMLS). The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than RexMont Real Estate are marked with the “Listing courtesy of NWMLS” designation. Information provided is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
© 2026 Northwest Multiple Listing Service. All rights reserved.
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Listed by Rick Juma • AQUA Real Estate
Listing updated: May 4, 2026 at 11:11pm
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2504220
Open Sat, Jun 13Open Sat, Jun 13 +1Open Sat, Jun 13Open Sat, Jun 13Open Sat, Jun 13Open Sat, Jun 13Open Sat, Jun 13Mountlake Terrace is a seller's market.
Inventory is low and competition is high. Sellers have more negotiating power.
Offer insight: Many homes get multiple offers, some with waived contingencies.
List to sale price: The average home sells very close to list price.
Time on market: The average home goes pending in around 7 days.
$625,000 Sold
1 week ago
3 bd•1 ba
23004 52nd Avenue W, Mountlake Terrace, WA 98043
1%
Under list
—
Days on market
0.9 mi
Distance
$78,000 Sold
2 weeks ago
2 bd•1 ba•Single Family
24222 54th Avenue W #57, Mountlake Terrace, WA 98043
22%
Under list
—
Days on market
0.3 mi
Distance
$1,150,000 Sold
3 weeks ago
4 bd•2.5 ba•~2,418 sq ft•Single Family
4802 236th Street Sw, Mountlake Terrace, WA 98043
8%
Under list
—
Days on market
0.8 mi
Distance
$600,000 Sold
3 weeks ago
2 bd•1 ba•~1,036 sq ft•Single Family
4909 234th Street Sw, Mountlake Terrace, WA 98043
0%
Over list
—
Days on market
0.9 mi
Distance
$640,000 Sold
4 weeks ago
3 bd•1.5 ba•~1,509 sq ft•Single Family
24226 52nd Avenue W #g, Mountlake Terrace, WA 98043
0%
Over list
—
Days on market
0.4 mi
Distance
Closed sales from MLS GRID / NWMLS within the past 6 months, matched on property type and within 1 mile. Comps approximate.
Want a deeper read on this market?
Ask a RexMont agentMarket data from MLS GRID / NWMLS · Updated Jun 2026
School information is unavailable for this listing. School boundaries can change, so verify the assigned schools with the district before purchasing.
