DEVELOPER’S DREAM Prime 16,500 sq. ft. corner lot in Mountlake Terrace offering three potential building parcels, each eligible for two residences under the city’s newly adopted development ordinance. The property has already been surveyed, with a Geotechnical Evaluation and two preliminary site designs available—illustrating flexible three-parcel configurations. An existing 4-bedroom, 2-bath, 1,866 sq. ft. home sits on the property and could be revitalized while pursuing subdivision or redevelopment. Whether you’re looking to build multiple new homes, phase your project, or leverage the corner lot visibility, this property delivers exceptional potential and value in one of the region’s now most development-forward cities.
Listed by Barry Andersen
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Windermere Real Estate Co.
Last updated October 15, 2025
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Source: NWMLS #2442373
Listing Facts
TypeSingle-family
NeighborhoodGateway
Bedrooms4
Bathrooms2
Days on Prevu12
Taxes$6,000/year
Size1,866 sqft
Price per sqft$480
Amenities
Pets Allowed
Parking
Location
Mortgage Calculator
Listing History
10/10/2025
Listed by Windermere Real Estate Co.
$895,000
Property Details for 23902 48th Avenue W
Exterior
Construction
Roof: Composition
Structure Type: House
Year Built: 1951
Building Name: Hanburys N Race Tr
Construction Materials: Brick
Entry Location: Main
Exterior Features: Brick
Features
Direction Faces: East
Measurements
Building Area Total: 1,866
Building Area Units: Square Feet
Lot Size Acres: 0.38
Lot Size Square Feet: 16,553
Lot Size Units: Square Feet
Financial
Taxes
Parcel Number: 00463100000509
Tax Annual Amount: $6,000.00
Tax Year: 2025
Interior
Features
Appliances: See Remarks
Fireplace: Yes
Fireplaces Total: 1
Flooring: Hardwood, Laminate, Carpet
Interior Features: Ceiling Fan(s), Dining Room, Fireplace, Water Heater
Measurements
Living Area: 1,866
Rooms
Bathrooms Full: 2
Bathrooms Total Integer: 2
Bedrooms Total: 4
Main Level Bathrooms: 2
Main Level Bedrooms: 4
Other
Location
Subdivision Name: Mountlake Terrace
Parking
Parking
Covered Spaces: 1
Garage Spaces: 1
Garage: Yes
Parking Features: Detached Garage
Parking Total: 1
Schools
High School
High School District: Edmonds
Utilities
Equipment
Has Heating: Yes
Sewer: Available, Sewer Connected
Water Source: Public
Based on information from NWMLS and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by Prevu or the MLS. Information is provided exclusively for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing.
Rebate estimate is indicative only and based on listing price and estimated buyer's agent commission paid by owner, if applicable. Final rebates are subject to Terms of Use and may vary due to final negotiated transaction terms.
