18654 NE 55th Street, Redmond, WA 98052

• 5 beds |
• 3 baths |
• 3,520 sqft

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).

Listing Status:

Active

Data Last Updated:

April 2, 2026 at 7:21AM

Listing Office:

COMPASS : 425-637-7777

Listing Agent:

Cindy Kelly : 425-637-7777

MLS ID:

2488754

Interior

• General: Bath Off PrimaryCeiling Fan(s)Dbl Pane/Storm WindowDining RoomFireplaceLoftVaulted Ceiling(s)Walk-In Closet(s)Water Heater
• Appliances: DishwasherDisposalDryerMicrowaveRefrigeratorStove(s)/Range(s)Washer
• Basement: Daylight
• A/C: Forced Air
• Heating: Forced Air
• Fireplace: Wood BurningFireplaceFireplaces: 2

Exterior

• General: Wood
• Parking: DrivewayDetached GarageRV ParkingParking spaces: 1

Construction

• Roofing: Composition
• General: TwoPoured Concrete

Location

• HOA Amenities: 0.0
• Originating MLS: nwmls
• School District: Lake Washington
• County: King

Lot

• Topography: LevelSloped
• Zoning: 1825069038

Utilities

• Water: Public
• Sewer: Sewer Connected

Financial

• Source: nwmls