About this home

A rare opportunity on Spanaway Lake—where lifestyle, legacy and development potential converge. Set on an oversized ~0.87-acre waterfront parcel with nearly 100 feet of lake frontage, this property offers a level of scale and flexibility seldom found along the lake. Nearly double the size of nearby parcels, this exquisite parcel boasts an existing single-family home that sits near the OHWM and captures sweeping 180° lake views from inside, creating an immediate emotional connection to the water, while a separate 1-bedroom, 1-bath DADU adds guest, rental or multigenerational flexibility. For recreation buyers, this is a chance to own a substantial private lake property with room to create a true waterfront retreat. For investors and developers, the upside may be equally compelling: Urban Corridor (UCOR) zoning, significant parcel depth, and preliminary County discussions indicating potential paths for attached housing, townhomes or multifamily redevelopment, subject to shoreline, critical-area, sewer and land-use approvals (Buyer to Verify). County staff has also identified a gravity sewer connection up the street, providing a possible infrastructure path for future intensification. Large waterfront parcels with this combination of views, frontage, existing improvements, income potential and redevelopment optionality are increasingly difficult to find. Preserve it, enhance it, or explore what comes next—this is a property with the ingredients to become something exceptional.

Interior features

Exterior features

Appliances

Schools

Property details

Heating

Forced Air, Heat Pump

Cooling

Central Air

Flooring

Ceramic Tile, Hardwood

Parking

Driveway, Attached Garage, RV Parking

View

Lake, Territorial

Lot

Paved, Secluded, Value In Land

Water source

Individual Well

Sewer

Available, Septic Tank

Levels

One

Costs

Price / sq ft

$566

Annual taxes

$10,107 (2026)

Location

Spanaway, WA 98387