29003 28th Place South
Federal Way, WA 98003
$512,950
Price
4
Beds
3
Baths
1,680 Sq. Ft.
$305 / Sq. Ft.
1,680
Sq. Ft.
$305
per Sq. Ft.
Listing provided courtesy of Homes & Equity Real Estate Grp
Description
Excellent investment opportunity with a strong 5.9% CAP rate and $3,300 in monthly rental income with potential for future growth. This property ideally located on a quiet dead-end street, close to freeway access, the upcoming light rail station and shopping. Each townhouse style unit offers 2 bedrooms, 1.5 bathrooms, 840 square feet of living space, an attached one-car garage and a private, fully fenced backyard. Both units have an excellent rental history. One unit underwent a $40K remodel in 2015...Excellent investment opportunity with a strong 5.9% CAP rate and $3,300 in monthly rental income with potential for future growth. This property ideally located on a quiet dead-end street, close to freeway access, the upcoming light rail station and shopping. Each townhouse style unit offers 2 bedrooms, 1.5 bathrooms, 840 square feet of living space, an attached one-car garage and a private, fully fenced backyard. Both units have an excellent rental history. One unit underwent a $40K remodel in 2015 with additional updates including appliances and a new water heater between 2018 and 2019. Month to month lease. Bring all offers! Motivated Seller. Do not contact tenants.
- Listed by Mo Abdi • Homes & Equity Real Estate Grp
Property Details for 29003 28th Place South
Community Name
Federal Way
School DistrictFederal Way
ViewTerritorial
Number of Assigned Spaces4
Total Covered Parking2
Entry Date11-07-2024
Energy SourceElectric
SewerSewer Connected
LISTING UPDATED: 11/18/2024 06:43 PM
Property Details for 29003 28th Place South
| Status | Active |
|---|---|
| MLS # | 2309148 |
| Days on Market | 14 |
| Cumulative Days on Market | 14 |
| Taxes | $5,114 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1980 |
| Lot Size | 0.17 AC / 7,200 SF |
| County | King County |
Building Information for 29003 28th Place South
Stories2Residences2Year Built1980Building Size-Lot Size0.17 AC / 7,200 SF
Property Information for 29003 28th Place South
Summary
Location and General Information
- Style: 52 - Duplex
- Site Features: Fenced-Fully
- Area: 110 - Dash Point/Federal Way
- Directions: From 288th, turn on 28th Place S to 29003 & 29005 on right.
- Leased Items: None
- Property Sub Type: MULT
- View: Yes
- Waterfront: No
Taxes and HOA Information
- Tax Year: 2024
Parking
- Number of Carport Spaces: 0.0
- Carport: No
- Open Parking Spaces: 2.0
- Open Parking: Yes
Interior and Exterior Features
Bathroom Information
- Full Baths Upper: 0
- Three Quarter Baths Upper: 0
- Half Baths Upper: 0
- Main Level Bathrooms: 0
Bedroom Information
- Bedrooms Upper: 0
- Bedrooms Possible: 0
Interior Features
- Fireplaces Total: 0
- Floor Covering: Laminate, Vinyl, Carpet
- Features: Laminate Hardwood, Wall to Wall Carpet
- Cooling: No
- Cooling: None
- Fireplace: No
- Heating: Yes
- Heating: Wall Unit(s)
Exterior Features
- Exterior: Metal/Vinyl, Wood
- Roof: Composition
- Security Features: PartiallyFenced
Property
Utilities
- Water Source: Public
- Water/Sewer/Garbage: 0
- Power Company: PSE
- Sewer Company: Lakehaven
- Water Company: Lakehaven
- Power Production Type: Electric
Property and Assessments
- New Construction YN: No
- Foundation: Poured Concrete
- Zoning Class: Multi-Family,Residential
- First Right Of Refusal: false
- Possible Use: Multi-Family, Residential
- MLS Square Footage Source: Realist
- Preliminary Title Ordered: Yes
- Senior Community: No
- Special Listing Conditions: None
- Photos Count: 10
Lot Information
- Lot Details: Curbs, Dead End Street, Paved, Sidewalk
- Lot Number: 6
- Lot Size Source: Realist
- Parcel Number Free Text: 0294500060
- Building Condition: Good
- Calculated Square Footage: 1680
- Structure Type: Duplex
- Square Footage Finished: 0
- Square Footage Unfinished: 0
- Building Area Total: 1680.0
- Building Area Units: Square Feet
- Property Type: Residential Income
- Elevation Units: Feet
- Irrigation Water Rights: No
Multi Family
Building Details
- Number of Uncovered Spaces: 2
- Number of Stories in Building: 2
- Vacancy Rate: 0
- Number Of Units Total: 2
- Units Below Grade: false
- Units In Building Total: 2
Financing / Income and Expenses
- Electric Expense: $0
- Total Expenses: 6811
- Gross Adjusted Income: 39600
- Gross Rent Multiplier: 14.1
- Gross Scheduled Income: $39,600
- Insurance Expense: $1,697
- Net Operating Income: $32,789
- Other Expenses: $0
- Total Monthly Income: 3300
- Fuel Expense: $0
Unit 1
- Name Unit 1: 29003
- Washer/Dryer Unit 1: false
- Range/Oven Unit 1: true
- Refrigerator Unit 1: true
- Dishwasher Unit 1: false
- Square Feet Unit 1: 840
- Rent Unit 1: $1,650.00
- Bedrooms Unit 1: 2
- Bathrooms Unit 1: 2
Unit 2
- Name Unit 2: 29005
- Washer/Dryer Unit 2: false
- Range/Oven Unit 2: true
- Refrigerator Unit 2: true
- Dishwasher Unit 2: false
- Square Feet Unit 2: 840
- Rent Unit 2: $1,650.00
- Bedrooms Unit 2: 2
- Bathrooms Unit 2: 2
Rental
Rent Information
- Occupant Type: Tenant
- Leasable Area: 1680.0
- Leasable Area Units: Square Feet
Property History for 29003 28th Place South
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 29003 28th Place South
Taxable ValueLand$132,000Additions$366,000Total$498,000
Tax Record2022$4,924 ($410 / month)
Home Facts
Baths3Total Finished SqFt1,680 SqFtAbove Ground SqFt1,680 SqFtStories2Lot Size7,200 SqFtStyleDuplexYear Built1980ZoningRM3600CountyKINGAPN029450-0060Fireplace TypeHas Fireplace
Schools near 29003 28th Place South
This home is within Federal Way School District.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
Valhalla Elementary School PublicPK to 5 | ||
Kilo Middle School Public6 to 8 | ||
Thomas Jefferson High School Public9 to 12 | ||
Open Doors Youth Reengagement (1418) Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.
Listing Courtesy of Homes & Equity Real Estate Grp
Listing provided courtesy of NWMLS, RMLS or Yakima MLS. The information contained in this listing has not been verified by Compass or the MLS and should be verified by the buyer. The DOM value represents the number of days this listing has been Active on this website.
