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$799,000 Just Listed

  • For Sale
  • Active
  • Single Family
  • 3 Beds
  • 1 Full Bath
  • 1,100 Sq. Ft.
  • Updated 1 hour 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
  • Taxes: $4,769 (2026)
  • Status: Active
  • Type: Single Family
  • Source: NWMLS
  • MLS ID: 2572307
  • Updated: 8/21/2026
  • Added to Site: 3 day(s) ago

Interior

  • Flooring: Vinyl Plank

Rooms

Bathrooms

  • Total Bathrooms: 1
  • Full Bathrooms: 1
  • Main Floor Baths: 1

Bedrooms

  • Total Bedrooms: 3
  • Bedrooms Main: 3

Parking

  • Garage: Yes
  • Attached garage: Yes
  • Covered Spaces: 1
  • Parking Features: Driveway, Attached Garage

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

Heating & Cooling

  • Cooling Type: None
  • Heating Type: Baseboard

Utilities

  • Sewer: Sewer Connected
  • Water: Public

Structural Information

  • Structure Type: House
  • Exterior Const.: Cement/Concrete
  • Basement Desc.: None
  • Roof: Metal, Torch Down
  • Square Feet: 1,100
  • Finished Total: 1,100 Sq. Ft.
  • Year Built: 1950

Lot Features

  • Property View: Territorial
  • Lot Size (Acres): 0.18
  • Lot Size (Sq. Ft.): 7,841
  • Lot Size Source: Realist
  • Topography: Level
  • Lot Features: Corner Lot, Paved

Financial Considerations

  • Tax Amount: $4,769
  • Tax Year: 2026
  • 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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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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    Sq. Ft.
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    Sq. Ft.
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    Sq. Ft.
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Sold by Lindsay M. Jackson | Windermere Real Estate/M2, LLC and Joe Mustach | Windermere Real Estate/M2, LLC
5003 239th Pl SW, Mountlake Terrace, WA 98043 - Photo 1 Sold
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    Sq. Ft.
Listed by Nicole McVay | John L. Scott Mill Creek and Kira James | John L. Scott Mill Creek
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5507 240th Street SW, Mountlake Terrace, WA 98043 (MLS# 2572307) is a Single Family property with 3 bedrooms and 1 full bathroom. 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 Single Family 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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