30323 15th CT S, Federal Way, WA 98003
30323 15th CT S, Federal Way, WA 98003
30323 15th CT S, Federal Way, WA 98003
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Listed by:Northmarq Multifamily, LLC • Steve Fischer
$4,950,000
Est. payment /mo
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36 Beds
36 Baths
18,180 SqFt
New

30323 15th CT S Federal Way, WA 98003

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Celeste Paul

Celeste Paul

+1(206) 931-9596

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 18,180 sqft

Price per Sqft $272

Subdivision Redondo

MLS Listing ID 2564976

Style 56 - 10+ Units

Bedrooms 36

Year Built 1976

Annual Tax Amount $49,865

Lot Size 0.964 Acres

Property Sub-Type Multi Family

Property Description

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.

Location

State WA

County King

Area 120 - Des Moines/Redondo

Interior

Flooring Laminate, Vinyl, Vinyl Plank, Carpet

Fireplace false

Exterior

Exterior Feature Wood Products

Amenities Available Patio

View Y/N Yes

View Territorial

Roof Type Metal

Building

Lot Description Cul-De-Sac, Curbs, Paved

Sewer Sewer Connected

Water Public

New Construction No

Schools

Elementary Schools Nautilus Elem

Middle Schools Sacajawea Jnr High

High Schools Federal Way Snr High

School District Federal Way

Others

Senior Community No

Acceptable Financing Assumable, Cash, Conventional

Listing Terms Assumable, Cash, Conventional

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

NEARBY SCHOOL & BUSINESS

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Celeste Paul

Celeste Paul

Realtor | License ID: 115658

+1(206) 931-9596

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30323 15th CT S