today we’re going to take a look at the most and least expensive properties in the city. Belltownpeople does this occasionally and I thought it would be interesting to take at look at Mountlake Terrace real estate.
The most expensive piece of property for sale in Mountlake Terrace right now shouldn’t be a surprise to anyone. This piece of property is the future “superblock” in the town center neighborhood. The property is listed at $2.19 million. Current tenants are Double D meats, Queen’s Dry cleaning and Prime Pizza.
The least expensive is a 3 bed, 2 bath manufactured home near 54th Ave W and 244th St SW. It can be yours for only $24,950.
If we limit our search to only single family residential the most expensive property is a nearly new house, built in 2007. This house has 4 bedrooms, 3 bathrooms and a total area of 3,420 square feet. It can be yours for only $575,000.
The least expensive single family residential property is one of the familiar cinder block houses built in 1950. The listing says it is a 4 bedroom, 2 bathroom, 672 square foot house. Unless they converted the living room and kitchen in to 2 bedrooms and a bath, I’m assuming the area is off. When looking at listings of cinder block houses in Mountlake Terrace you’ll notice a familiar pattern: 672 square feet. That’s because most of these house were built with exactly the same floor plan. Many of them, including my home, have additions that push that area up over 1,000 square feet so I’m guessing that is the case for this property. It can be yours for $206,900.
If you’re looking for a great agent to help you pick up one of these properties, I’m sure you’ll find one of or sponsors can help you out. Just check out the sidebar on any page.
Note: I didn’t count foreclosures or auctions. So if you’re looking for a steal, that’s probably your best bet.
The manufactured home is a steal. You could really save some money living there for awhile. The mortgage is probably as much as weekend beer money.
However, there is probably the rent fee to live in the park, so maybe $500 a month or more for that for water and the lot? Still, you could really save some money.
The house for $575k could almost be considered an atypical house, like a geodesic dome house, since it’s not typical or even close to price and style for surrounding properties.
There is a house just up the street from this one, next to the mosque. I had considered buying it, but was worried about the commercial space next to it. Well, the house sold for 200k about the time I got another house. 4 years later, it sold again for $454k! That’s insane.
I’d love to kick myself for not buying it, selling at the top of the bubble, then rent an apartment for awhile, and a year or two later buy a house for cash with the profit made off of a sale for that.
However, who has a good crystal ball? It’s all gambling.
The downtown “donut” property would probably have to be bought and then the entire thing razed and redone at 2-3 stories high as whatever is the case for the city’s downtown plan.
Some serious money would have to be spent on purchase and redoing it. Maybe the city should buy it and prepare it? I’m not a socialist by any means, but with current state of the economy, it might be a long time before much is invested in this property.
There is a lot of inertia to keep things from turning around, despite the city having finally done something to provide an incentive to turn things around.
It may take a huge developer to risk making an investment and converting many of the properties into two properties in the city center and then razing one one on that lot and building two. They’d have to do large swaths to do so in order to combat the inertia to keep things from changing. It would be a big risk and few lenders are in the mood to loan money. It’s status quo.
It’s really sad that the city council let things slide forever. I guess they didn’t want any change in MLT. The rest of the world passed them by. The rest of the world being business districts all around Mountlake Terrace or on its fringes.
Does anyone know why things just stayed the way they did? Local public opposition? Someone blamed some fires from before, but I think that’s a lame excuse.
I wonder how expensive that downtown property is compared to other, similar properties outside of MLT. This area could have looked like the “QFC center” over on 44th.