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Provided by NWMLS, Listed by David W Petersen, 206-505-9400 at Westlake Associates, Inc.
9,420 sqft

$2,725,000

30853 14th Avenue S, Federal Way WA, 98003

Price per sqft$289.28
Built in1958
Property size9,420 sqft
Property typeMulti-family

Overview

Active

Updated 13 days ago

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.

$18,129/mo

Est. mortgage payment based on a $2,725,000 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Additional information

MLS® ID
2566450

Interior Features

Heating
Yes
Basement
No

Exterior Features

Lot Size
0.71 Acres

Other Property Details

Taxes
$26,635
Tax Frequency
Annually
55+/Senior Community
No
MLS provider logo

Provided by NWMLS, Listed by David W Petersen, 206-505-9400 at Westlake Associates, Inc.

The IDX display presents information sourced from the Northwest Multiple Listing Service as of 10/7/2026. The data is intended for personal, non-commercial use and should not be used for any other purpose except to identify potential properties for purchase. While the MLS data displayed is generally deemed reliable, it is NOT guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. The property locations displayed on any map are merely best approximations and exact locations should be independently verified. Based on information submitted to the MLS GRID as of 10/7/2026 at 5:55 PM UTC . 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.

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Data last updated on 10/7/2026 at 5:55 PM UTC 

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