Active · Residential

5008 NE 2nd Street , Renton, WA 98059

Renton, WA 98059

$1,599,000

3 bedrooms · 2 bathrooms · 2,500 sq ft

Loading property photos…

Listing provided by Globenex Realty · MLS #2523358 · Active

More properties in Renton · Explore local city guides

About this property

ATTENTION BUILDERS & SAVVY INVESTORS! A rare, high-yield opportunity in the heart of the sought-after East Renton Highlands. This premier 1.16-acre flat parcel offers the perfect "hybrid" investment: a turnkey, income-producing rental with massive, shovel-ready development upside. CASH FLOW WHILE YOU PERMIT: The existing home was fully remodeled in 2022. It currently generates $3,800/month on a m-to-m lease. This consistent income covers your holding costs while you permits and platting. DEVELOPMENT POTENTIAL & HB 1337 DENSITY: The heavy lifting is done! Over $200,000 has been invested in design, civil engineering, and city coordination for a 6-lot single-family subdivision. Take your ROI even further by leveraging Washington’s HB 1337—the potential exists to design up to 3 units per lot, creating a high-density, 18-unit community in a market starved for inventory. "SHOVEL-READY" ADVANTAGE: 100% of the civil engineering was previously completed and approved. While it expired last year, the comprehensive files are ready for a streamlined revival. Skip the grueling 2-year design phase and jump straight into a high-margin project. PRIME TECH CORRIDOR LOCATION: Completely flat, usable lot abutting newer construction on all sides. Enjoy a seamless commute with easy access to I-405, Hwy 169, and major tech hubs. Just minutes from The Landing, Gene Coulon Park, and top-tier Highlands shopping. Bring your crew and unlock the maximum value of this Highlands gem!

Property details

Property type: Single Family Residence
Year built: 1983
Lot size: 50,112 sq ft
Association dues: $0 · frequency not provided
Annual property tax: $11,904 (2026)
Parking spaces: 2
School district: Renton

Listings courtesy of Northwest MLS as distributed by MLS GRID.

Based on information submitted to the MLS GRID as of 10/6/2026, 9:56:41 PM Pacific. 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.

IDX information is provided exclusively for consumers’ personal, noncommercial use to identify prospective properties they may be interested in purchasing. Data is deemed reliable but is not guaranteed by MLS GRID. Some IDX listings have been excluded from this website: search includes current Active, Active Under Contract, Pending and Coming Soon listings.