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$799,000 Just Listed

  • For Sale
  • Active
  • Land Residential
  • 0.18 Acres
  • Updated 1 day ago

Listed by Kimberly Shaeffer | John L. Scott, Inc. | (206) 527-0700 and Andy Sather | John L. Scott, Inc. | (206) 527-0700

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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.

Full Property Details for 5507 240th St SW

General

  • Price: $799,000
  • Status: Active
  • Type: Land Residential
  • Source: NWMLS
  • MLS ID: 2571324
  • Updated: 8/19/2026
  • Added to Site: 3 day(s) ago

Location

  • Area: 730 - Southwest Snohomish
  • County: Snohomish
  • Subdivision: Mountlake Terrace
  • Driving Directions: GPS works

School Information

  • High School District: Snohomish
  • Elementary School: Buyer To Verify
  • Middle School: Buyer To Verify
  • High School: Buyer To Verify

Utilities

  • Electric Available: Yes
  • Sewer: On Property
  • Water: On Property
  • Utility Description: Electricity Connected, Natural Gas Available

Structural Information

  • Structure Type: None

Lot Features

  • Lot Size (Acres): 0.18
  • Lot Size (Sq. Ft.): 7,841
  • Lot Size Source: Realist
  • Street/Road Desc.: Paved
  • Topography: Level
  • Lot Features: Corner Lot

Financial Considerations

  • Terms: Cash, Conventional

Disclosures and Reports

  • Special Conditions: None
  • Property ID: 498000101000

Listed by Kimberly Shaeffer | John L. Scott, Inc. | (206) 527-0700 and Andy Sather | John L. Scott, Inc. | (206) 527-0700

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NMLS#: 1598647

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Save up to an additional 20% by bundling your home and auto together!

Schools serving 5507 240th St SW

School District:Edmonds School District
NameGradesDistance
Mountlake Terrace Elementary School
22001 52nd Avenue West, Mountlake Terrace, WA 98043
K-61.3 mi
Brier Terrace Middle School
22200 Brier Road, Brier, WA 98036
7-81.8 mi
Mountlake Terrace High School
21801 44th Ave W, Mountlake Terrace, WA 98043
9-121.7 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 5507 240th St SW Get Price Alerts and Save Property

Date
Details
Price
Change
Source
8/19/2026
Listed
$799,000
255.11%
MLS
11/29/2005
Sold
$225,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 5507 240th St SW

Year
Property Taxes
Change
Tax Assessment
Change
2026
$4,769
-51%
$589,400
—
2025
$9,823
145%
$587,900
12%
2023
$4,016
15%
$525,500
19%
2021
$3,490
-16%
$440,500
—
2022
$4,179
20%
$440,500
47%
2021
$3,490
18%
$300,000
—
2020
$2,962
23%
$300,000
22%
2019
$2,417
-5%
$246,000
9%
2018
$2,534
13%
$224,700
8%
2017
$2,236
6%
$208,900
2%
2016
$2,114
1%
$205,300
7%
2015
$2,101
-1%
$191,400
—
2014
$2,122
—
$191,400
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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Listed by Kimberly Shaeffer | John L. Scott, Inc. | (206) 527-0700 and Andy Sather | John L. Scott, Inc. | (206) 527-0700

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5507 240th Street SW, Mountlake Terrace, WA 98043 (MLS# 2571324) is a Land Residential property with a lot size of 0.18 acres. 5507 240th Street SW is currently listed for $799,000 and was received on August 19, 2026. Want to learn more about 5507 240th Street SW? Do you have questions about finding other Land Residential real estate for sale in Gateway? You can browse all Gateway real estate or contact a Coldwell Banker agent to request more information.

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