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Listed by: Steve Fischer (425) 830-2254 | Northmarq Multifamily, LLC (952) 356-0100
$4,950,000
Monthly Est:$24,638
36 Beds
36 Baths
18,180sqft
30323 15th Court S, Federal Way, WA 98003
$4,950,000
$24,638/moEst:
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Multi Family
Built in 1976
$-- HOA
42,000 sqft lot
$272/sq.ft
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.
- Houzeo last checked: 12 hours ago
- Listing updated: September 23, 2026 at 1:37 am
- Source: Northwest Multiple Listing Service | MLS#: NWM2564976
Property Details
Status
Active
Type
Multi Family
No. of Stories
2
County
City
Neighborhood
--
Year Built
1976
HOA Fees
-
Finished Area
18,180 sqft
Lot Size
42,000 sqft lot
Basement Area
- sqft
MLS Name
Northwest Multiple Listing Service
MLS Number
NWM2564976
MLS Status
Active
Days on Market
57
Cumulative Days on Market
57
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Location
Facts & Features
Rooms
Bedrooms & bathrooms
Bedrooms: 36
Bathrooms: 36
Interior
Flooring
Laminate, Vinyl, Vinyl Plank, Carpet
Exterior Features
Wood Products
Sewer
Sewer Connected
Heating
Baseboard, Wall Furnace
Cooling
None
Construction
Year Built
Year Built: 1976
Home type
Multi Family
Roof
Metal
Property Condition
Updated/remodeled
Foundation Details
Poured Concrete
Construction Materials
Wood
Utilities & Energy
Water Source
Public
Other Features
Lot Features
Cul De Sac, Curbs, Paved
Subdivision Name
Redondo
Price History
| Date | Event | Price |
|---|---|---|
08/05/2026 Source: | Listed for Sale | $4,950,000 $272/sqft |
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Based on information submitted to the MLS GRID by Northwest Multiple Listing Service as of Oct 01, 2026, 02:47PM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
IDX information is provided exclusively for consumers’ personal, noncommercial use; it may not be used for any purpose other than to identify prospective properties that consumers may be interested in purchasing, that the data is deemed reliable, but is not guaranteed by MLS GRID, and that the use of the MLS GRID Data may be subject to an end-user license agreement prescribed by the Member Participant’s applicable MLS, if any and as amended from time to time. © 2025 Northwest Multiple Listing Service. All Rights Reserved.
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