- 0
- 2
- Overview
- Description
- Property Details
- Location
- Facts & Features
- Getting Around
- Nearby Homes
No HOA
Street View
Listed by: David W Petersen (206) 300-8909 , Chad Michael Martini (206) 321-3226 | Westlake Associates, Inc. (206) 505-9400
$2,725,000
Monthly Est:$13,563
28 Beds
17 Baths
9,420sqft
30853 14th Avenue S, Federal Way, WA 98003
$2,725,000
$13,563/moEst:
Get Pre-Approved
Multi Family
Built in 1958
$-- HOA
31,050 sqft lot
$289/sq.ft
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 6.06% 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.
- Houzeo last checked: 12 hours ago
- Listing updated: September 23, 2026 at 1:38 am
- Source: Northwest Multiple Listing Service | MLS#: NWM2566450
Property Details
Status
Active
Type
Multi Family
No. of Stories
2
County
City
Neighborhood
--
Year Built
1958
HOA Fees
-
Finished Area
9,420 sqft
Lot Size
31,050 sqft lot
Basement Area
- sqft
MLS Name
Northwest Multiple Listing Service
MLS Number
NWM2566450
MLS Status
Active
Days on Market
55
Cumulative Days on Market
55
Continue Your Journey in App
Find your dream home, receive real-time updates, and many more!
Download App
Continue Your Journey in App
Find your dream home, receive real-time updates, and many more!
Location
Facts & Features
Rooms
Bedrooms & bathrooms
Bedrooms: 28
Bathrooms: 17
Interior
Exterior Features
Brick, Wood
Sewer
Sewer Connected
Heating
Baseboard
Cooling
None
Construction
Year Built
Year Built: 1958
Home type
Multi Family
Roof
Flat
Construction Materials
Brick, Wood
Utilities & Energy
Security Features
Partially Fenced
Other Features
Lot Features
Curbs, Paved, Sidewalk
Subdivision Name
Federal Way
Price History
| Date | Event | Price |
|---|---|---|
08/07/2026 Source: | Listed for Sale | $2,725,000 +10.55% $289/sqft |
01/29/2019 Source: | Price Increased | $2,465,000 +190.00% $262/sqft |
05/30/2002 Source: | Sold | $850,000 $90/sqft |
Nearby Homes
Find Homes by Property Features in Federal Way, WA
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.
Advertising Broker: Christy Lee-Naumann (267) 341-8337 | Houzeo Brokerage LLC