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Listed by:Westlake Associates, Inc. • David W Petersen

$2,725,000

Est. payment - /mo

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28 Beds

17 Baths

9,420 SqFt

Active

30853 14th AVE S Federal Way, WA 98003

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Ryan Born

ryan@born-realty.com +1(206) 498-0342

UPDATED:

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 6.06% 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.

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

"Three Trees" icon indicates a listing provided courtesy of NWMLS.

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Amenities & Attractions

Restaurants

Home Services

Health & Medical

Local Services

Shopping

Recreation

Arts & Entertainment

Food

Beauty

Nightlife

Event Planning & Services

Automotive

Religious Organizations

Financial Services

Professional Services

Travel

Pets

Education

Local Media

Malri Hyang

31217 Pacific Hwy S, Federal Way, WA 98003

Korean Phone: 253-946-0848
Bangkok Garden Street Food

31509 Pacific Highway S Federal Way, Federal Way, WA 98003

Vegetarian Phone: 253-214-3564
Chipotle Mexican Grill

31827 Pacific Hwy S, Federal Way, WA 98003

Mexican Phone: 253-945-8287
Tofoo Restaurant

31513 Pacific Hwy S, Federal Way, WA 98003

Korean Phone: 253-945-0488
Northwestern Restaurants

31919 1st Ave S, Federal Way, WA 98003

Phone: 253-927-4632
Tokyo-ya Ramen

31507 Pacific Hwy S, Federal Way, WA 98003

Ramen Phone: 206-592-6552
Papa Murphy’s Pizza

31653 Pacific Hwy S, Federal Way, WA 98003

Pizza Phone: 253-941-3161
Lim’s Restaurant

31217 Pacific Hwy S, Federal Way, WA 98003

Korean Phone: 253-946-5347
China Bistro Noodle House

31217 Pacific Hwy S, Federal Way, WA 98003

Chinese Phone: 253-946-0848
Taqueria El Rinconsito

25914 Pacific Hwy S, Federal Way, WA 98003

Sandwiches Phone: 253-945-1116
Haggen Food & Pharmacy

31009 Pacific Hwy South, Federal Way, WA 98003

Bakeries Phone: 253-946-4002
Papa John’s Pizza

112 SW 312th, Federal Way, WA 98003

Pizza Phone: 253-945-7575
Village Inn

31711 Pacific Hwy S, Federal Way, WA 98003

American (Traditional) Phone: 253-941-9860
Taqueria Los Amigos II

31847 Pacific Hwy S, Federal Way, WA 98003

Mexican Phone: 253-529-2999
H Mart Restaurant

31217 Pacific Hwy S, Federal Way, WA 98003

Korean Phone: 253-528-0500
Pho Tai

31513 Pacific Hwy S, Federal Way, WA 98003

Japanese Phone: 253-941-4979
I Love Ramen

31254 Pacific Hwy S, Federal Way, WA 98003

Ramen Phone: 253-839-1115
Tokyo Japanese Steak House

1404 S 320th St, Federal Way, WA 98003

Teppanyaki Phone: 253-839-4352
Blue Koren Resturant

1400 S 312th St, Federal Way, WA 98003

Phone: 253-946-9997
K-Ton Japanese Cuisine

31217 Pacific Hwy S, Federal Way, WA 98003

Japanese Phone: 253-941-3148
Barnes & Noble

31325 Pacific Hwy S, Federal Way, WA 98003

Cafes Phone: 253-839-2535
Mi Pueblo Market

31007 Pacific Hwy S, Federal Way, WA 98003

Cuban Phone: 253-941-2099
Panda Express

31827 Pacific Hwy S, Federal Way, WA 98003

Fast Food Phone: 253-941-3323
Church’s Chicken

31717 Pacific Hwy S, Federal Way, WA 98003

Chicken Wings Phone: 253-946-0596
Noodle House

31217 Pacific Hwy S, Federal Way, WA 98003

Phone: 253-946-0848
Coffee

700 320th Sw, Federal Way, WA 98003

Coffee & Tea
Daka Japanese Restaurant

30919 Pacific Hwy S Ste J, Federal Way, WA 98003

Japanese Phone: 253-529-2045
Oysy Express

31217 Pacific Hwy S, Federal Way, WA 98003

Japanese Phone: 253-946-0711

Educational Environment

Elementary Schools (5)Middle Schools (2)High Schools (2)

Name

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