$4,950,000
Est. $25,527/mo30323 15th Court S, Federal Way, WA 98003
• Listed 2026-08-05•4 days on market
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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.
Listed by Steve Fischer • Northmarq Multifamily, LLC
Listing updated: August 5, 2026 at 10:58am
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2564976
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30323 15th Court S, Federal Way, WA 98003
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Federal Way is a seller's market.
Inventory is low and competition is high. Sellers have more negotiating power.
Offer insight: Well-priced homes draw multiple offers; others sell close to asking.
List to sale price: The average home sells very close to list price.
Time on market: The average home goes pending in around 11 days.
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Ask a RexMont agentMarket data from MLS GRID / NWMLS · Updated Aug 2026
Federal Way School District
Assigned schools for this property per the listing's MLS data. School district boundaries change — verify the exact assigned schools with the district before purchasing.
