30853 14th Avenue South
Federal Way, WA 98003
$2,995,000
Price
28
Beds
16.5
Baths
9,612 Sq. Ft.
$312 / Sq. Ft.
9,612
Sq. Ft.
$312
per Sq. Ft.
Listing provided courtesy of Windermere Real Estate Co.
Description
Welcome to the Lake Apartments in Federal Way, a portal into a classic 1958-built brick, 16 unit apartment building. This 2 story building is surrounded by grass and vegetation on a huge 31,000 square foot lot. Just off Pacific Highway, this building is a reasonable commute to the major hubs and will be close to the future Federal Way light rail stop. Groceries, restaurants, transit, and entertainment are all just blocks away. This well maintained building got a new roof in 2022 and is a smart investment...Welcome to the Lake Apartments in Federal Way, a portal into a classic 1958-built brick, 16 unit apartment building. This 2 story building is surrounded by grass and vegetation on a huge 31,000 square foot lot. Just off Pacific Highway, this building is a reasonable commute to the major hubs and will be close to the future Federal Way light rail stop. Groceries, restaurants, transit, and entertainment are all just blocks away. This well maintained building got a new roof in 2022 and is a smart investment with room to improve cash flow and equity. On site laundry, ample private parking, and private entry make this a property you can be proud to add to your portfolio. Assumable financing may be available for qualified buyers.
- Listed by Shavic Jones • Windermere Real Estate Co.
- Listed by Jason Jaber • Windermere Real Estate Co.
Property Details for 30853 14th Avenue South
Community Name
Federal Way
School DistrictFederal Way
Number of Assigned Spaces0
Total Covered Parking0
Entry Date01-21-2025
Energy SourceElectric
SewerSewer Connected
LISTING UPDATED: 02/22/2025 04:28 PM
Property Details for 30853 14th Avenue South
| Status | Active |
|---|---|
| MLS # | 2324874 |
| Days on Market | 49 |
| Cumulative Days on Market | 49 |
| Taxes | $27,351 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1958 |
| Lot Size | 0.71 AC / 31,050 SF |
| County | King County |
Building Information for 30853 14th Avenue South
Stories2Residences16Year Built1958Building Size-Lot Size0.71 AC / 31,050 SF
Property Information for 30853 14th Avenue South
Summary
Location and General Information
- Style: 56 - 10+ Units
- Area: 110 - Dash Point/Federal Way
- Directions: From 99 South turn right on S 312th St, Right on 14th Ave S, building on Left.
- Leased Items: None
- Property Sub Type: MULT
- View: No
- Waterfront: No
Taxes and HOA Information
- Tax Year: 2024
Parking
- Number of Carport Spaces: 0.0
- Carport: No
- Open Parking Spaces: 18.0
- 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
- Amenities: Coin Op Laundry
- Cooling: No
- Cooling: None
- Fireplace: No
- Heating: Yes
- Heating: Baseboard
- FIRPTA: No
Exterior Features
- Exterior: Brick
- Roof: Flat
Property
Utilities
- Water/Sewer/Garbage: 14728.31
- Power Production Type: Electric
Property and Assessments
- New Construction YN: No
- Zoning Jurisdiction: City
- First Right Of Refusal: false
- MLS Square Footage Source: Realist
- Preliminary Title Ordered: Yes
- Senior Community: No
- Special Listing Conditions: None
- Photos Count: 17
Lot Information
- Lot Details: Curbs, Open Space, Paved, Sidewalk
- Lot Size Source: Realist
- Parcel Number Free Text: 0821049138
- Calculated Square Footage: 9612
- Structure Type: Multi Family
- Square Footage Finished: 0
- Square Footage Unfinished: 0
- Building Area Total: 9612.0
- Building Area Units: Square Feet
- Property Type: Residential Income
- Elevation Units: Feet
- Irrigation Water Rights: No
Multi Family
Building Details
- Number of Uncovered Spaces: 18
- Number of Stories in Building: 2
- Vacancy Rate: 0
- Number Of Units Total: 16
- Units Below Grade: false
- Units In Building Total: 16
Financing / Income and Expenses
- Electric Expense: $3,464
- Total Expenses: 95149.31
- Gross Adjusted Income: 280704
- Gross Rent Multiplier: 10.67
- Gross Scheduled Income: $280,704
- Insurance Expense: $5,807
- Net Operating Income: $185,555
- Other Expenses: $43,799
- Total Monthly Income: 280704
- Fuel Expense: $0
Unit 1
- Name Unit 1: 1
- Square Feet Unit 1: 600
- Rent Unit 1: $1,450.00
- Bedrooms Unit 1: 2
- Bathrooms Unit 1: 1
Unit 2
- Name Unit 2: 2
- Square Feet Unit 2: 600
- Rent Unit 2: $1,450.00
- Bedrooms Unit 2: 2
- Bathrooms Unit 2: 1
Unit 3
- Name Unit 3: 3
- Square Feet Unit 3: 600
- Rent Unit 3: $1,425.00
- Bedrooms Unit 3: 2
- Bathrooms Unit 3: 1
Unit 4
- Name Unit 4: 4
- Square Feet Unit 4: 600
- Rent Unit 4: $1,375.00
- Bedrooms Unit 4: 2
- Bathrooms Unit 4: 1
Unit 5
- Name Unit 5: 5
- Square Feet Unit 5: 600
- Rent Unit 5: $1,525.00
- Bedrooms Unit 5: 2
- Bathrooms Unit 5: 1
Unit 6
- Name Unit 6: 6
- Square Feet Unit 6: 450
- Rent Unit 6: $1,295.00
- Bedrooms Unit 6: 1
- Bathrooms Unit 6: 1
Unit 7
- Name Unit 7: 7
- Square Feet Unit 7: 450
- Rent Unit 7: $1,195.00
- Bedrooms Unit 7: 1
- Bathrooms Unit 7: 1
Unit 8
- Name Unit 8: 8
- Square Feet Unit 8: 450
- Rent Unit 8: $1,195.00
- Bedrooms Unit 8: 1
- Bathrooms Unit 8: 1
Unit 9
- Name Unit 9: 9
- Square Feet Unit 9: 450
- Rent Unit 9: $1,175.00
- Bedrooms Unit 9: 1
- Bathrooms Unit 9: 1
Unit 10
- Name Unit 10: 10
- Square Feet Unit 10: 600
- Rent Unit 10: $1,450.00
- Bedrooms Unit 10: 2
- Bathrooms Unit 10: 1
Unit 11
- Name Unit 11: 11
- Square Feet Unit 11: 600
- Rent Unit 11: $1,450.00
- Bedrooms Unit 11: 2
- Bathrooms Unit 11: 1
Unit 12
- Name Unit 12: 12
- Square Feet Unit 12: 600
- Rent Unit 12: $1,450.00
- Bedrooms Unit 12: 2
- Bathrooms Unit 12: 1
Unit 13
- Name Unit 13: 13
- Square Feet Unit 13: 670
- Rent Unit 13: $1,395.00
- Bedrooms Unit 13: 2
- Bathrooms Unit 13: 1
Unit 14
- Name Unit 14: 14
- Square Feet Unit 14: 600
- Rent Unit 14: $1,450.00
- Bedrooms Unit 14: 2
- Bathrooms Unit 14: 1
Unit 15
- Name Unit 15: 15
- Square Feet Unit 15: 600
- Rent Unit 15: $1,250.00
- Bedrooms Unit 15: 2
- Bathrooms Unit 15: 1
Unit 16
- Name Unit 16: 16
- Square Feet Unit 16: 950
- Rent Unit 16: $1,500.00
- Bedrooms Unit 16: 2
- Bathrooms Unit 16: 2
Rental
Rent Information
- Occupant Type: Tenant
- Leasable Area: 9420.0
- Leasable Area Units: Square Feet
Property History for 30853 14th Avenue 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 30853 14th Avenue South
Taxable ValueLand$310,500Additions$2,313,500Total$2,624,000
Tax Record2024$27,351 ($2,279 / month)
Home Facts
Total Finished SqFt9,424 SqFtAbove Ground SqFt9,424 SqFtStories2Lot Size31,050 SqFtStyleMulti-Family Dwelling (2-4)Year Built1958Year Renovated1995ZoningRM1800CountyKINGAPN082104-9138
Schools near 30853 14th Avenue South
This home is within Federal Way School District.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 8 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
Nautilus Elementary School PublicK to 8 | ||
Sacajawea Middle School Public6 to 8 | ||
Federal Way Senior High School Public9 to 12 | ||
Career Academy At Truman High School 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 Windermere Real Estate Co.
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.
