$2,725,000
Est. $14,053/mo30853 14th Avenue S, Federal Way, WA 98003
• Listed 2026-08-07•2 days on market
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Based on information submitted to the MLS GRID as of August 7, 2026 at 02:25pm (date and time MLS GRID Data was obtained). 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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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 6.20% 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.
Listed by David W Petersen • Westlake Associates, Inc.
Listing updated: August 7, 2026 at 02:25pm
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2566450
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30853 14th Avenue 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.
$913,195 Sold
7 weeks ago
5 bd•3.25 ba
30317 11th Place S, Federal Way, WA 98003
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0.4 mi
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$505,000 Sold
3 months ago
3 bd•1 ba•~1,370 sq ft•Single Family
30212 10th Avenue S, Federal Way, WA 98003
1%
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Days on market
0.5 mi
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$983,950 Sold
3 months ago
5 bd•3 ba•~2,983 sq ft•Single Family
30332 11th Place S, Federal Way, WA 98003
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0.5 mi
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$634,990 Sold
4 months ago
4 bd•1.75 ba•~1,540 sq ft•Single Family
30041 14th Avenue S, Federal Way, WA 98003
0%
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0.5 mi
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$1,000,000 Sold
4 months ago
5 bd•3.5 ba•~3,580 sq ft•Single Family
30714 19th Avenue S, Federal Way, WA 98003
3%
Over list
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Days on market
0.4 mi
Distance
Closed sales from MLS GRID / NWMLS within the past 6 months, matched on property type and within 1 mile. Comps approximate.
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Ask a RexMont agentMarket data from MLS GRID / NWMLS · Updated Aug 2026
School information is unavailable for this listing. School boundaries can change, so verify the assigned schools with the district before purchasing.
