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About the Listing 4704 - 31314
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 Highlights
Status
Active
Days on Site
13
Property Type
Residential
MLS ®
2488754
Year Built
1980
Total Square Footage
3,520
Lot/Acreage
0.44
County
King
Neighborhood
Redmond
School District
Lake Washington
Elementary School
Blackwell Elementary
Middle School
Inglewood Middle
High School
Eastlake High
Interior Details
- Bedrooms: 5
- Bathrooms: 2 Full / 1 Three-Quarter
- Appliances: Dishwasher, Disposal, Dryer, Microwave, Refrigerator, Stove(s)/Range(s), Washer, Dishwasher(s), Dryer(s), Garbage Disposal, Microwave(s), Refrigerator(s), Washer(s)
- Air Cond:
- Heating:
- Fireplaces: 2, Wood Burning,2 Fireplace
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement: Daylight
- Other: Bath Off Primary,Ceiling Fan(s),Dbl Pane/Storm Window,Dining Room,Fireplace,Loft,Vaulted Ceiling(s),Walk-In Closet(s),Water Heater,Master on Main
- Water: City of Redmond
Exterior Details
- Lot Description: Corner Lot,Curbs,Secluded,Sidewalk,Built On Lot,Cable TV,Deck,Fenced-Partially,Gas Available,RV Parking
- Garage Capacity: N/A
- Parking Spaces: 1
- Roof: Composition
- Others: Wood,Good
- Sewer: City of Redmond
- Parking Features: Driveway,Detached Garage,RV Parking
Financial Details
- Tax Amount: $11,129
- Taxes w/Assessments: N/A
- Tax/Property ID: 1825069038
- Tax Year: 2025
Payment Calculator
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Questions About..
18654 NE 55th St Redmond, WA 98052
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