$4,950,000
2564976 MLS ⋅ ACTIVE Status
We are pleased to present Redondo Ridge Townhomes, an 18-unit townhome community in Federal Way. Built in 1976, the property offers spacious 2-bedroom, 1.5-bath townhomes averaging 1,010 SF with fireplaces, vaulted ceilings, private patios, and full-size side-by-side washers and dryers. Offered at $4,950,000 ($275,000/unit, $272/SF), the asset delivers a 6.04% in-place cap rate with meaningful upside: current rents average $2,101, roughly 12% below the $2,400 achieved by comparable townhomes, and four unrenovated units offer approximately $500/month of additional income. Capital improvements include a new metal roof (2017), electrical panel upgrades (2018), fresh exterior paint (2026), and 14 of 18 units extensively remodeled with new cabinets, quartz counters, flooring, paint, doors, millwork, and appliances. Located 1.6 miles from the Federal Way Link Light Rail Station with convenient access to employment, shopping, and dining.

30323 15th Court S, Federal Way

Listing courtesy of Northmarq Multifamily, LLC.

$3,330,000
2427173 MLS ⋅ ACTIVE Status
Excellent location within walking distance to the Federal Way Transit Center and the upcoming Light Rail Station. Zoning: BC (Business commercial) Lot Size: Approx. 200’ x 200’ (square lot) Development Potential: Mixed-use building up to 65 ft in height Extended-stay type projects up to 45–46 ft in height -detail to be verified Multiple other options available under current zoning Some concept designs are available through the listing agent. The property offers great visibility from Pacific Hwy S and is situated near the heart of Federal Way, making it an attractive opportunity for investors and developers. Listing agent is part owner of the property.

31000 18th Avenue S, Federal Way

Listing courtesy of Realtyall.com.

$2,750,000
2440008 MLS ⋅ ACTIVE Status
Versatile 11,556 SF facility located in the West Campus Business Park (Lot 16A). Currently operating as an academy/religious facility, the flexible gymnasium-style layout (About 6K SF) accommodates a wide range of uses (with compatible OP Zoning) including school, church, office with warehouse, reception hall, sports training, physical therapy, government, community services & so on. Strong surrounding demographics and proximity to I-5, Federal Way Commons, major retailers, and transit provide convenience and long-term growth potential. Recent upgrades include a new central HVAC system (2024). Sale may include security surveillance, commercial kitchen equipment with 6FT commercial hood fixture and media/musical systems upon buyer's request.

33901 9th Avenue S, Federal Way

Listing courtesy of Frontier Realty.

$2,725,000
2566450 MLS ⋅ ACTIVE Status
The Lake Apartments is a well-maintained 16-unit garden-style multifamily community at 30853 14th Ave S in Federal Way, offered at an attractive $170,313 per unit. The property delivers a 6.06% in-place CAP rate with clear upside to a 7.41% proforma CAP through raising current below-market rents. Built in 1958 with a new roof installed in 2022, the asset sits on a large 31,050 sq. ft. park-like lot and features on-site laundry, ample private parking, and a balanced mix of one- and two-bedroom units. Located just off Pacific Highway and within approximately one mile of the Federal Way Downtown Link Light Rail Station, the property is also close to Steel Lake and Easter Lake, offering convenient access to recreational amenities. It benefits from strong transit access, high submarket occupancy (96.5%), limited new supply of apartments, and proximity to major employment centers including Sea-Tac Airport and the rapidly growing Kent Valley aerospace and logistics corridor.

30853 14th Avenue S, Federal Way

Listing courtesy of Westlake Associates, Inc..

$2,700,000
2513240 MLS ⋅ ACTIVE Status
Rare ±8-acre land opportunity on Pacific Hwy S in Federal Way. Investment Opportunity with a Single Tenant, 5-Year, Triple Net Lease in place, 6% Cap Rate. Strong visibility, regional access, and a sizable site footprint position this property for both current income and long-term value creation. Large sites in this corridor are increasingly difficult to find. Reach out for additional information and to discuss potential fit. Don't miss the OM here; https://vimeo.com/1187227711?fl=pl&fe=sh

37405 Pacific Highway S, Federal Way

Listing courtesy of City Closers Real Estate.

$2,500,000
2481082 MLS ⋅ ACTIVE Status
This property represents an excellent investment opportunity with low overhead costs, currently available as the owner is adjusting their investment portfolio. The location offers high visibility and significant frontage exposure, with over 35,000 vehicles passing by daily. The space is versatile and can be converted for various uses, such as an assisted living facility, a dental clinic, or professional offices for legal and accounting services.

30640 Pacific Hwy Highway S, Federal Way

Listing courtesy of Skyline Properties, Inc..

$2,250,000
4 Beds ⋅ 3 Baths ⋅ 2444527 MLS ⋅ ACTIVE Status
Here's your opportunity to own waterfront property! Home has 229 feet of waterfront and sits on 2.19 peaceful acres next to Dumas Bay Sanctuary. Perfect multi-family property with 2 homes on the property: the main house is a 1 story with fully finished basement at 5,100 sqft. Each floor has 2 bedrooms, its own kitchen, a family room area and a patio or deck to relax and take in the views. The 2nd home or ADU, affectionately called the Beach House is a 1000 sqft home with 2 bedrooms, 1 bath and a huge deck overlooking the bay. Bring your plans and vision to this property to update the homes and make them shine once again! Trim some trees back and your gorgeous bay view will be seen from any angle of the property! Don't miss this opportunity!

30726 43rd Avenue SW, Federal Way

Listing courtesy of John L. Scott Des Moines.

$1,890,000
4 Beds ⋅ 4 Baths ⋅ 2568784 MLS ⋅ ACTIVE Status
Suspended above the shimmering waters of Puget Sound like a private sanctuary, this extraordinary upgraded modern waterfront home captures the essence of refined coastal living. Framed by panoramic views of the Sound & Olympic Mountains, accompanied by soaring eagles & breaching whales, the property offers a rare Pacific Northwest lifestyle with 116 ft of shoreline. From the moment you arrive, a sense of serenity & understated luxury unfolds. The stunning living room w/ fireplace, soaring 20-ft ceilings & dramatic walls of glass fills the open-concept interiors w/natural light while showcasing breathtaking, ever-changing water views from nearly every room. Expansive view decks creating effortless indoor-outdoor living ideal for sunset gatherings, morning coffee, or simply pausing to take in the horizon. The chef’s kitchen is beautifully appointed w/ premium appliances & opens seamlessly to the dining & living areas, creating the perfect setting for entertaining. The luxurious primary suite offers a private view deck, spa-inspired bath w/ heated floors, double vanity, & an expansive walk-in closet w/ secondary laundry. A private lower-level guest suite w/separate entrance provides flexibility & comfort, while the rec rm w/wet bar opens to backyard fire pit & outdoor entertaining spaces. This is more than a home, it is a lifestyle defined by beauty, privacy, & quiet luxury. Professional geotechnical evaluation was completed & the findings are generally favorable.

3626 SW Dash Point Road, Federal Way

Listing courtesy of Windermere Bellevue Commons.

$1,700,000
2510472 MLS ⋅ ACTIVE Status
Rare opportunity to acquire Soundview II, a turn-key, six-unit multifamily asset in Federal Way's coveted Redondo neighborhood. This condo-style complex features expansive 1,170 SF 2-bed/1.5-bath floor plans designed for high-retention ccupancy. Units boast premium amenities including private west-facing balconies with partial Puget Sound views, fireplaces, in-unit full-size W/D, LVP flooring, and stainless appliances. With the December 2025 Link Extension opening, residents enjoy rapid light rail access to SEATAC and Downtown Seattle while maintaining a significant affordability advantage. Historically self-managed with little deferred maintenance, the property offers a clear value-add runway; implement targeted cosmetic upgrades to countertops and cabinetry to capture immediate rent premiums. Positioned in a supply-constrained submarket with local development moratoriums and a median household income projected to grow 53% by 2030, Soundview Il is a high-yield, low-risk addition to any portfolio. Proximity to Dash Point State Park and I-5 ensures durable demand for years to come.

28426 S 16th Ave, Federal Way

Listing courtesy of Real Broker LLC.

$1,650,000
3 Beds ⋅ 3 Baths ⋅ 2580516 MLS ⋅ ACTIVE Status
Wake up to breathtaking panoramic views of Puget Sound, the Olympic Mountains, and unforgettable sunsets from this remarkably private Federal Way waterfront retreat. Set on approximately 1.5 acres with 125 feet of no-bank waterfront, this rare property offers the space, privacy, and direct beach access that are exceptionally difficult to find. The fully renovated custom home combines timeless Northwest character with modern comfort. Expansive windows frame the water views throughout the home, while the elegant sunken living room features gracious beamed ceilings and a dramatic fireplace. The refreshed kitchen offers Corian countertops and a cozy breakfast nook, while the spacious dining area is perfectly positioned for entertaining with the Sound as your backdrop. Multiple water-view decks and an expansive patio create seamless indoor-outdoor living—ideal for morning coffee, al fresco dining, entertaining, or simply enjoying spectacular Pacific Northwest sunsets. A separate 1200 square feet cottage provides flexible space for a home office, studio, guest retreat, or additional-purpose space. A peaceful wooded trail winds through the property to an enchanting sandy beach and waterfront cabana. At low tide, explore miles of shoreline directly from your own private waterfront setting. The property also benefits from a new septic system design and approval, with installation to be completed by the new owner. The separate cottage is 1200 square feet; buyers to verify.

5112 SW 311th Place, Federal Way

Listing courtesy of WeLakeside.

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