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Washington>Mountlake Terrace>Gateway

5507 240th Street SWMountlake Terrace, WA 98043

For Sale

$799,000

Smart Buyer Rebate $7,990

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.

Listed by Kimberly Shaeffer

·

John L. Scott, Inc.

Listed by Andy Sather

·

John L. Scott, Inc.

Last updated August 21, 2026

·

Source: NWMLS #2572307

Listing Facts

  • TypeSingle-family
  • NeighborhoodGateway
  • Bedrooms3
  • Bathrooms1
  • Days on Prevu27
  • Taxes$4,769/year
  • Size1,100 sqft
  • Price per sqft$726

Amenities

  • Pets Allowed
  • Parking

Location

Mortgage Calculator

Listing History

08/19/2026
Listed by John L. Scott, Inc.
$799,000
  1. 08/19/2026$799,000
    Listed by John L. Scott, Inc.

Property Details for 5507 240th Street SW

Exterior

Construction

  • Roof: Metal, Torch Down
  • Structure Type: House
  • Year Built: 1950
  • Construction Materials: Cement/Concrete
  • Exterior Features: Cement/Concrete

Features

  • View: Territorial

Measurements

  • Building Area Total: 1,100
  • Building Area Units: Square Feet
  • Lot Features: Corner Lot, Paved
  • Lot Size Acres: 0.18
  • Lot Size Square Feet: 7,841
  • Lot Size Units: Square Feet

Financial

Taxes

  • Parcel Number: 00498000101000
  • Tax Annual Amount: $4,769.00
  • Tax Year: 2026

Interior

Features

  • Flooring: Vinyl Plank

Measurements

  • Living Area: 1,100

Rooms

  • Bathrooms Full: 1
  • Bathrooms Total Integer: 1
  • Bedrooms Total: 3
  • Main Level Bathrooms: 1
  • Main Level Bedrooms: 3

Other

Location

  • Subdivision Name: Mountlake Terrace

Parking

Parking

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

Schools

Elementary School

  • Elementary School: Buyer To Verify

High School

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

Middle or Junior School

  • Middle Or Junior School: Buyer To Verify

Utilities

Equipment

  • Has Heating: Yes
  • Sewer: Sewer Connected
  • Water Source: Public

Frequently Asked Questions

How many bedrooms and bathrooms does this single-family home have?

There are 3 bedrooms and 1 bathroom in this single-family home at 5507 240th Street SW.

What schools are nearby to 5507 240th Street SW?

Nearby schools include the Buyer To Verify Elementary School, Buyer To Verify Middle School, and Buyer To Verify High School.

Does this single-family home have parking?

Yes, there is 1 parking space available for 5507 240th Street SW.

What are the annual taxes for 5507 240th Street SW?

Annual taxes for this single-family home are estimated at $4,769.

How does 5507 240th Street SW compare to other single-family homes in Gateway?

This single-family home is listed 11% below the average price for single-family homes in Gateway and has been on the market for 39 less days than the typical home in this area.

What is the square footage on this single-family home?

According to the MLS, this listing is 1,100 sqft.

5507 240th Street SW is a 3-bedroom, 1-bath single-family home for sale in Mountlake Terrace WA 98043. Listed on Prevu for 27 days at $799,000. This residence features 1,100 square feet of living space, located in Mountlake Terrace. The median listing price for single-family homes in this area is $798,000. Nearby schools include Buyer To Verify Elementary School, Buyer To Verify Middle School, and Buyer To Verify High School. The home offers pets allowed and parking. View other single-family home listings in Mountlake Terrace.

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.

Full MLS Disclaimers

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.