$750,000
Est. $3,860/mo1602 172nd Street E, Spanaway, WA 98387
• Listed 2026-06-18•11 days on market
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Rare opportunity to acquire a 0.87-acre infill development site in the heart of Spanaway, one of Pierce County’s fastest-growing residential corridors. Zoned NCOR (Neighborhood Corridor), the property benefits from an allowable residential density of 24 to 40 dwelling units per acre, supporting efficient, higher-density housing within an established urban neighborhood. The current conceptual development plan includes six newly constructed fourplex buildings together with the adaptive reuse and conversion of the existing residence into a fourplex, creating a 28-unit residential community. Incorporating the existing home into the development concept offers a meaningful advantage by preserving a substantial portion of the existing structure, potentially reducing demolition costs, shortening construction timelines, lowering material requirements, and maximizing the productive use of improvements already in place. This approach also provides an opportunity to enhance overall project economics while delivering a cohesive residential community. With continued demand for attainable housing and a limited supply of infill land, the property presents a compelling opportunity for developers and builders seeking a well-located residential project in the South Sound.
Listed by Matt J. Harris • COMPASS
Listing updated: August 6, 2026 at 08:18pm
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2540752
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Open Wed, Aug 19 +2RexMont Value Snapshot
We found recent nearby sales, but not enough that are similar enough to publish an automated value signal for this home.
Ask RexMont to verify value1602 172nd Street E, Spanaway, WA 98387
Estimates only and not guaranteed. Consult a RexMont agent for accurate, personalized guidance before making an offer. RexMont OfferEdge™ · © 2026 RexMont Real Estate. Proprietary tool.
Neighborhood mobility
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More homes in this area that match your range.
Spanaway is a seller's market.
Inventory is low and competition is high. Sellers have more negotiating power.
Offer insight: Well-priced homes draw multiple offers; others sell close to asking.
List to sale price: The average home sells very close to list price.
Time on market: The average home goes pending in around 14 days.
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Days on market
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Distance
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Distance
$685,653 Sold
2 weeks ago
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2%
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Days on market
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Distance
$673,960 Sold
2 weeks ago
5 bd•3.25 ba•~2,811 sq ft•Single Family
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$639,125 Sold
5 weeks ago
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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 Aug 2026
Bethel School District
Assigned schools for this property per the listing's MLS data. School district boundaries change — verify the exact assigned schools with the district before purchasing.
