30853 14th AVE S, Federal Way, WA 98003
30853 14th AVE S, Federal Way, WA 98003
30853 14th AVE S, Federal Way, WA 98003
30853 14th AVE S, Federal Way, WA 98003
30853 14th AVE S, Federal Way, WA 98003
30853 14th AVE S, Federal Way, WA 98003
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Jesse Maddox

Jesse Maddox

+1(206) 391-6970
Listed by:Westlake Associates, Inc. • David W Petersen
$ 2,725,000
Est. payment | /mo

28 Beds

17 Baths

9,420 SqFt

Save
$ 2,725,000
Est. payment | /mo
Save

28 Beds

17 Baths

9,420 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 9,420 sqft

Price per Sqft $289

Subdivision Federal Way

MLS Listing ID 2566450

Style 56 - 10+ Units

Bedrooms 28

Year Built 1958

Annual Tax Amount $26,635

Lot Size 0.713 Acres

Property Sub-Type Multi Family

Property Description

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 6.20% 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.

Location

State WA

County King

Area 110 - Dash Point/Federal Way

Interior

Fireplace false

Exterior

Exterior Feature Brick, Wood

Amenities Available Fenced-Partially, Patio

View Y/N No

Roof Type Flat

Building

Lot Description Curbs, Paved, Sidewalk

Sewer Sewer Connected

New Construction No

Schools

School District Federal Way

Others

Senior Community No

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Northwest MLS (NWMLS)
"Three Trees" icon indicates a listing provided courtesy of NWMLS.
Nearby Locations
Jesse Maddox

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(206) 391-6970

jesse.agaperegroup@gmail.com

8107 144th Dr SE,, Snohomish, Washington 9829018, USA

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30853 14th AVE S