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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
9
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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