Why This Tiny Shoreline Home Is Selling For $1.5 Million

SHORELINE, WA - Yes, the value is in the land. But why? According to the listing, this parcel is zoned for commercial mixed-use development that allows for buildings up to seven stories.

And why is it zoned like that? The property will be a scant 0.2 miles from the light rail station planned for 185th Street. But you have a few years to cash in on this property. The light rail station is part of Sound Transit's Lynnwood extension, which isn't scheduled to open until at least 2024 (the Northgate extension will bring light rail to 145th Street, but not until 2021).

Here are the details:

• Address: 18032 5th Ave NE, Shoreline, Washington
• Price: $1,500,000
• Square Feet: 750
• Bedrooms: 2
• Bathrooms: 1 Baths
• Built: 1942
• Features: MUR 70 zoning! Value in land. Flat, clear lot with in .02 mile to the future Light Rail Station. Lot is flat, no trees. MIXED USE RESIDENTIAL-70 HEIGHT MUR-70' This zone would allow building heights of 70 feet, generally six to seven stories. Building types would typically be mixed-use with residential and /or office uses above commercial or other active use at the ground floor level. House needs some "finishing" but is in good condition. Larger sqft then tax records as per seller.

This listing originally appeared on realtor.com. For more information and photos, click here.