$799,000
Est. $4,108/mo3 bd•1 ba•1,100 sq ft
5507 240th Street Sw, Mountlake Terrace, WA 98043
• Listed 2026-08-19•8 days on market
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Based on information submitted to the MLS GRID as of August 21, 2026 at 05:04am (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.
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Exceptional redevelopment opportunity in the heart of Mountlake Terrace. This 7,800+ SF corner property is located just blocks from the Mountlake Terrace Link light rail station and downtown, with desirable BC/D zoning offering significant long-term potential. The property is currently improved with an existing residence and occupied by a long-standing month-to-month tenant, providing income while a buyer evaluates future plans. An excellent opportunity for a developer, investor, or owner looking to secure a strategically located property in one of Mountlake Terrace's evolving transit-oriented areas. Buyer to verify zoning, development potential, permitted uses, and all information to buyer's satisfaction. Please do not disturb tenant or walk the property without prior permission.
Listed by Kimberly Shaeffer • John L. Scott, Inc.
Listing updated: August 21, 2026 at 05:04am
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2572307
Open houses
No upcoming open houses scheduled for this property.
Nearby open houses (4)
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Open Sun, Aug 30
Open Sun, Aug 30
Open Sun, Aug 30
Open Sun, Aug 30$784,000
-$15,000 under list price
Nearby comparable homes
RexMont uses 5 strongest recent nearby sales, priced between $560K and $685K.
Rental earnings
$2,350/mo
Screening estimate from the comp-supported value. Verify with rent comps before underwriting.
$685,000Last sold price
5410 240th Street Sw, Mountlake Terrace, WA 98043
$635,000Last sold price
23901 59th Place W, Mountlake Terrace, WA 98043
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.
5507 240th Street Sw, Mountlake Terrace, WA 98043
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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Dan Rowley · Highest Offer
Mountlake 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 12 days.
$141,750 Sold
2 weeks ago
3 bd•2 ba•Single Family
24222 54th Avenue W #17, Mountlake Terrace, WA 98043
6%
Under list
—
Days on market
0.2 mi
Distance
$500,000 Sold
4 weeks ago
3 bd•1 ba•~996 sq ft•Single Family
5705 2238th Street Sw, Mountlake Terrace, WA 98043
5%
Under list
—
Days on market
0.2 mi
Distance
$90,000 Sold
8 weeks ago
2 bd•0.75 ba•Single Family
24222 54th Avenue W #12, Mountlake Terrace, WA 98043
22%
Under list
—
Days on market
0.2 mi
Distance
$765,000 Sold
2 months ago
5 bd•1.75 ba•~2,042 sq ft•Single Family
22803 66th Avenue W, Mountlake Terrace, WA 98043
1%
Under list
—
Days on market
1.0 mi
Distance
$730,000 Sold
2 months ago
3 bd•1.5 ba•~1,380 sq ft•Single Family
23108 50th Avenue W, Mountlake Terrace, WA 98043
1%
Over list
—
Days on market
0.6 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 Aug 2026
Snohomish 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.
