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Listed by:COMPASS • Matt J. Harris
$ 750,000
Est. payment /mo
Active
1602 172nd ST E Spanaway, WA 98387
0.87 Acres Lot
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Land
Listing Status Active
Purchase Type For Sale
Subdivision Spanaway
MLS Listing ID 2540752
Style 40 - Res-Less thn 1 Ac
Annual Tax Amount $7,178
Lot Size 0.871 Acres
Property Sub-Type Land
Property Description
Rare opportunity to acquire a 0.87-acre infill development site in the heart of Spanaway, one of Pierce County's fastest-growing residential corridors. Zoned NCOR (Neighborhood Corridor), the property benefits from an allowable residential density of 24 to 40 dwelling units per acre, supporting efficient, higher-density housing within an established urban neighborhood. The current conceptual development plan includes six newly constructed fourplex buildings together with the adaptive reuse and conversion of the existing residence into a fourplex, creating a 28-unit residential community. Incorporating the existing home into the development concept offers a meaningful advantage by preserving a substantial portion of the existing structure, potentially reducing demolition costs, shortening construction timelines, lowering material requirements, and maximizing the productive use of improvements already in place. This approach also provides an opportunity to enhance overall project economics while delivering a cohesive residential community. With continued demand for attainable housing and a limited supply of infill land, the property presents a compelling opportunity for developers and builders seeking a well-located residential project in the South Sound.
Location
State WA
County Pierce
Area 99 - Spanaway
Interior
Fireplace false
Exterior
Utilities Available Electricity Connected, Septic Design Installed
View Y/N No
Building
Lot Description Paved
Sewer Available, In Street
Water On Property
Schools
Elementary Schools Buyer To Verify
Middle Schools Buyer To Verify
High Schools Buyer To Verify
School District Bethel
Others
Senior Community No
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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