18654 NE 55th St, Redmond, WA 98052

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 Washingtons 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).