$2,725,000
Est. $14,430/mo30853 14th Avenue S, Federal Way, WA 98003
• Listed Aug 7, 2026•46 days active · 46 cumulative
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Listing Broker: Westlake Associates, Inc.; David W Petersen; 206-505-9400
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.
Listed by David W Petersen • Westlake Associates, Inc.
Listing updated: August 17, 2026 at 04:43pm
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2566450
30853 14th Avenue S, Federal Way, WA 98003
Source:RexMont analysis of Northwest MLS sales data for this ZIP code plus third-party market data (RentCast). The estimates are RexMont's, not Northwest MLS listing data.
Estimates only and not guaranteed. Consult a RexMont agent for accurate, personalized guidance before making an offer. RexMont OfferEdge™ · © 2026 RexMont Real Estate. Proprietary tool.
Neighborhood mobility
Source: Walk Score®, Bike Score® and Transit Score® are provided by Walk Score (walkscore.com), a third-party service. This is not Northwest MLS listing data.
Schools shown are the nearest public Elementary, Middle, and High school for this property and may not be the assigned schools. Verify attendance boundaries with the district before purchasing.
$17,331 per month
Great rateTakes about 5 minutes & won't affect your credit
Get pre-approvedSource: RexMont estimate, not Northwest MLS listing data. Interest rates from Freddie Mac's Primary Mortgage Market Survey via FRED (Federal Reserve Bank of St. Louis). Property tax and HOA dues from the NWMLS listing where provided, otherwise estimated; insurance estimated at 0.3% of price per year.
Estimate only. Actual payment depends on credit, lender, and program. PMI not included for down payments below 20%.
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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: Many homes get multiple offers, some with waived contingencies.
List to sale price: The average home sells very close to list price.
Time on market: Days-on-market data not available for this area.
$958,788 Sold
5 days ago
4 bd•3 ba•~2,983 sq ft•Single Family
30320 11th Place S, Federal Way, WA 98003
0%
Over list
268
Days on market
0.4 mi
Distance
$913,195 Sold
3 months ago
5 bd•3.25 ba•~2,790 sq ft•Single Family
30317 11th Place S, Federal Way, WA 98003
0%
Over list
178
Days on market
0.4 mi
Distance
$505,000 Sold
5 months ago
3 bd•1 ba•~1,370 sq ft•Single Family
30212 10th Avenue S, Federal Way, WA 98003
1%
Over list
85
Days on market
0.5 mi
Distance
$983,950 Sold
5 months ago
5 bd•3 ba•~2,983 sq ft•Single Family
30332 11th Place S, Federal Way, WA 98003
0%
Over list
40
Days on market
0.5 mi
Distance
$634,990 Sold
5 months ago
4 bd•1.75 ba•~1,540 sq ft•Single Family
30041 14th Avenue S, Federal Way, WA 98003
0%
Over list
43
Days on market
0.5 mi
Distance
Closed sales from MLS GRID / NWMLS within the past 6 months, matched on property type and within 1 mile. Comps approximate.
Want a deeper read on this market?
Ask a RexMont agentMarket data from MLS GRID / NWMLS · Updated Sep 2026
MLS GRID Disclaimer
Based on information submitted to the MLS GRID as of August 17, 2026 at 04:43pm (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.
Listing information courtesy of Northwest Multiple Listing Service (NWMLS). The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than RexMont Real Estate are marked with the “Listing courtesy of NWMLS” designation. Information provided is for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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