1602 172nd Street E, Spanaway, WA 98387
- $800,000
Listing courtesy of COMPASS.
- List Price
- $800,000
- Status
- ACTIVE
- MLS#
- 2540752
- Days on Market
- 39
- Lot Size (sq ft)
- 37,957
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.
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Additional Information
- Community
- Spanaway
- Style
- 40 - Res-Less thn 1 Ac
- Zoning Jurisdiction
- County
- Restrictions
- No Restrictions
- Sewer
- Available, In Street
- Tax Year
- 2026
- School District
- Bethel
- Elementary School
- Buyer To Verify
- Middle School
- Buyer To Verify
- High School
- Buyer To Verify
- Potential Terms
- Cash, Conventional
- Driving Directions
- From Pacific Ave S, head east on 176th St E. Turn left on 15th Ave E, then right on 172nd St E. Property is on the right.
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