5008 NE 2nd Street, Renton, WA 98059

• 3 beds |
• 2 baths |
• 2,500 sqft

Property Description

ATTENTION BUILDERS & SAVVY INVESTORS! A rare, high-yield opportunity in the heart of the sought-after East Renton Highlands. This premier 1.16-acre flat parcel offers the perfect "hybrid" investment: a turnkey, income-producing rental with massive, shovel-ready development upside. CASH FLOW WHILE YOU PERMIT: The existing home was fully remodeled in 2022. It currently generates $3,800/month on a m-to-m lease. This consistent income covers your holding costs while you permits and platting. DEVELOPMENT POTENTIAL & HB 1337 DENSITY: The heavy lifting is done! Over $200,000 has been invested in design, civil engineering, and city coordination for a 6-lot single-family subdivision. Take your ROI even further by leveraging Washington’s HB 1337—the potential exists to design up to 3 units per lot, creating a high-density, 18-unit community in a market starved for inventory. "SHOVEL-READY" ADVANTAGE: 100% of the civil engineering was previously completed and approved. While it expired last year, the comprehensive files are ready for a streamlined revival. Skip the grueling 2-year design phase and jump straight into a high-margin project. PRIME TECH CORRIDOR LOCATION: Completely flat, usable lot abutting newer construction on all sides. Enjoy a seamless commute with easy access to I-405, Hwy 169, and major tech hubs. Just minutes from The Landing, Gene Coulon Park, and top-tier Highlands shopping. Bring your crew and unlock the maximum value of this Highlands gem!

Listing Status:

Active

Data Last Updated:

May 20, 2026 at 7:19AM

Listing Office:

Globenex Realty : 425-442-9501

Listing Agent:

Shelly Xiuping Hu : 425-442-9501

MLS ID:

2523358

Interior

• A/C: None
• Heating: BaseboardForced Air
• Fireplace: ElectricFireplaces: 0

Exterior

• General: Wood
• Parking: Attached GarageParking spaces: 2

Construction

• Roofing: Composition
• General: OnePoured Concrete

Location

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

Lot

• Zoning: 1523059219

Utilities

• Water: Public
• Sewer: Septic Tank

Financial

• Source: nwmls