$5,000,000
Est. $25,494/mo3 bd•3 ba•3,670 sq ft
4835 Forest Avenue Se, Mercer Island, WA 98040
• Listed 2026-07-08•New today
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Based on information submitted to the MLS GRID as of July 28, 2026 at 11:09am (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.
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PRICE IMPROVEMENT! There is still time to spend your summer playing on sparkling Lake Washington! With a tempting new price, opportunity beckons you to seize this rare chance to own a west-facing waterfront estate on Mercer Island's premier Gold Coast. Its exceptional street-to-water lot encompasses nearly half an acre edged by 53 feet of prized western shoreline. You’ll savor front row views across the lake to the Seattle skyline and Seward Park, arguably among the most breathtaking vistas on the Island. Fully rebuilt in 2017, the massive, covered dock is a boater's dream complete with two boat lifts—one ready to accommodate a vessel up to 50,000 pounds. A grandfathered boathouse at the water's edge is a true rarity that can no longer be replicated under today's shoreline regulations. After a day making memories out on the lake, colorful sunsets carry you home to your waterside lawn and beautifully terraced walkway leading up to even more views from the house. The main residence plus a separate apartment above are offered as a blank canvas ready for your vision…whether that's a thoughtful renovation of the original mid-century design, or a ground-up rebuild to fully capture this irreplaceable setting. Add your signature style and create a new legacy to be loved for generations to come. Waterfront aficionados will recognize this extraordinary, diamond in the rough prospect to secure incredible views, coveted waterfront, and a boater's dock that simply can't be recreated.
Listed by Julie Wilson • Windermere Mercer Island
Listing updated: July 28, 2026 at 11:09am
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2551386
Open houses
5 datesNearby open houses (2)
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Open Wed, Jul 29 +1$4,900,000
-$100,000 under list price
Nearby comparable homes
RexMont uses 5 strongest recent nearby sales, priced between $2.56M and $5.15M.
Rental earnings
$14,700/mo
Screening estimate from the comp-supported value. Verify with rent comps before underwriting.
$2,660,000Last sold price
5222 W Mercer Way, Mercer Island, WA 98040
$2,683,000Last sold price
8021 Se 57th Street, Mercer Island, WA 98040
Estimate is a comp-supported screen, not an appraisal or broker price opinion. Ask RexMont for a property-specific pricing review before writing or accepting an offer.
4835 Forest Avenue Se, Mercer Island, WA 98040
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
$29,338 per month
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More homes in this area that match your range.
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Open Sat, Aug 1Mercer Island 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 for about 1% below list price.
Time on market: The average home goes pending in around 6 days.
$4,650,000 Sold
2 weeks ago
5 bd•1 ba•~4,650 sq ft•Single Family
4628 Forest Avenue Se, Mercer Island, WA 98040
7%
Under list
—
Days on market
0.3 mi
Distance
$2,498,000 Sold
5 weeks ago
5 bd•2.5 ba•~3,480 sq ft•Single Family
8255 Se 59th Street, Mercer Island, WA 98040
0%
Over list
—
Days on market
0.6 mi
Distance
$2,150,000 Sold
2 months ago
4 bd•2.5 ba•~3,765 sq ft•Single Family
4701 84th Avenue Se, Mercer Island, WA 98040
6%
Under list
—
Days on market
0.2 mi
Distance
$1,750,000 Sold
2 months ago
4 bd•1.5 ba•~2,840 sq ft•Single Family
16 Wembley Lane, Mercer Island, WA 98040
8%
Under list
—
Days on market
0.4 mi
Distance
$2,215,000 Sold
2 months ago
4 bd•2.5 ba•~4,440 sq ft•Single Family
9261 Se 46th Street, Mercer Island, WA 98040
8%
Under list
—
Days on market
0.8 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 Jul 2026
Mercer Island 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.
