Legacy Professionals, Inc.

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Listed by:COMPASS • Cindy Kelly
Bought with: Kelly Right RE of Seattle LLC

$ 1,500,000

$ 1,695,000 11.5%

Est. payment | -/mo

5 Beds

2.75 Baths

3,520 SqFt

$ 1,500,000

$ 1,695,000 11.5%

Est. payment | -/mo

5 Beds

2.75 Baths

3,520 SqFt

Key Details

Sold Price $1,500,000

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Sold

Purchase Type For Sale

Square Footage 3,520 sqft

Price per Sqft $426

Subdivision Redmond

MLS Listing ID 2488754

Sold Date 05/29/26

Style 12 - 2 Story

Bedrooms 5

Full Baths 2

Year Built 1980

Annual Tax Amount $11,129

Lot Size 0.444 Acres

Property Sub-Type Single Family Residence

Property Description

This is a rare “live well + build wealth” opportunity on a 19,350 SF lot with Redmond NMF zoning—offering flexibility as a comfortable home today and serious upside over time. So many options. The existing residence is 3,520 SF and lives beautifully, featuring three bedrooms upstairs, vaulted ceilings, and an open great-room floor plan that feels bright, airy, and connected. Downstairs, the lower level has its own separate entrance, making it a natural setup for a rentable unit, guest quarters, or multi-generational living with privacy. What truly sets this property apart is the Redmond NMF (Neighborhood Multifamily) zoning, which supports a wide range of redevelopment paths. With Washington's evolving housing laws—including HB-1337, which expands the ability to add up to two detached DADUs on many lots without subdivision (subject to local standards, setbacks, utilities, and permitting)—this property can be approached with a strategic “income + appreciation” mindset. Multiple smart options exist: KEEP & OPTIMIZE: Update this structurally solid home, create/upgrade the lower-level rental, and add up to two detached DADUs. REDEVELOP: Start fresh and build townhomes / multifamily consistent with NMF zoning (subject to approvals and feasibility). Alternative concept: Explore a larger building footprint and specialized housing concepts; per city code, an apartment building or even an assisted living facility may be an option (buyer to verify).

Location

State WA

County King

Area 550 - Redmond/Carnation

Rooms

Basement Daylight

Main Level Bedrooms 3

Interior

Interior Features Bath Off Primary, Ceiling Fan(s), Dbl Pane/Storm Window, Dining Room, Fireplace, Loft, Vaulted Ceiling(s), Walk-In Closet(s), Water Heater

Fireplaces Number 2

Fireplaces Type Wood Burning

Fireplace true

Appliance Dishwasher, Disposal, Dryer, Microwave, Refrigerator, Stove(s)/Range(s), Washer

Exterior

Exterior Feature Wood

Amenities Available Cable TV, Deck, Fenced-Partially, Gas Available, RV Parking

View Y/N No

Roof Type Composition

Garage Yes

Building

Lot Description Corner Lot, Curbs, Secluded, Sidewalk

Story Two

Sewer Sewer Connected

Water Public

Architectural Style Contemporary

New Construction No

Schools

Elementary Schools Blackwell Elem

Middle Schools Inglewood Middle

High Schools Eastlake High

School District Lake Washington

Others

Senior Community No

Acceptable Financing Cash, Conventional, FHA

Listing Terms Cash, Conventional, FHA

"Three Trees" icon indicates a listing provided courtesy of NWMLS.

18654 NE 55th ST Redmond, WA 98052

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Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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18654 NE 55th ST