Prime Investment & Development Opportunity in South Everett's Ruggs Lake Community! Rare 1.23-acre (53,579 SF) lot zoned LDMR, allowing 1 unit per 4,000 SF - with rezone potential to MR (1 unit per 2,000 SF), doubling density for townhome or multi-unit development. Based on current zoning, an estimated 10-16 units may be buildable on this lot (buyer to verify with Snohomish County Planning Department). This is a rare opportunity to secure a sizable, flexible parcel in a well-established neighborhood with strong rental demand and limited comparable inventory. Spacious 4-bed, 2.5-bath home (2,335 SF), with rental potential of approximately $3,000/mo, offering holding income while permitting and entitlements are finalized. Sewer available in street, simplifying future development costs. Tucked on a quiet dead-end road with community access to Ruggs Lake, the property offers a peaceful setting while remaining minutes from Mill Creek Town Center, shopping, dining, and major employers. With Snohomish County's continued population growth and rising demand for multi-family housing, this property offers a compelling blend of immediate utility and long-term development upside. Ideal for developers or investors pursuing a multi-unit build-out, or investors seeking a buy-and-hold asset with significant appreciation potential. Buyer and buyer's agent to independently verify zoning, unit count, and development feasibility with Snohomish County.
| MLS # | 2581868 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Pending |
| Year | 1973 |
| Days On Site | 18 |
| Listing Provided By | Green Path Real Estate | Edwin G. Tian |
| Bed(s) | 4 |
|---|---|
| Bath(s) | 3 Total |
| SQ Feet | 2,335 |
| Garage | 2 |
| Acreage | 1.23 |
| Property | 7601 |
|---|
| State | WA |
|---|---|
| County | Snohomish |
| City | Everett |
| Zip Code | 98208 |
| Area | 740 Everett | Mukilteo |
| Community Name | Riverside |
| School District | Cascade High |
| Elementary School | Penny Creek Elem |
| High School | Cascade High |
| Listing VS Median (in Riverside) | |
Price: $950,000 low | high Med: $510,000 sqft: 2,335 low | high Med: 1,000 $ / sqft: $407 low | high Med: $510 On site: 18 low | high Med: 32 | |
| State | WA |
|---|---|
| County | Snohomish |
| City | Everett |
| Zip Code | 98208 |
| Area | 740 Everett | Mukilteo |
| Community Name | Riverside |
| School District | Cascade High |
| Elementary School | Penny Creek Elem |
| High School | Cascade High |
| Listing VS Median (in Riverside) | |
Price: $950,000 low | high Med: $510,000 sqft: 2,335 low | high Med: 1,000 $ / sqft: $407 low | high Med: $510 On site: 18 low | high Med: 32 | |