$ 4,950,000
-
$4,950,000
Price -
36
Bed -
36
Bath -
18,180
SqFt
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About the Listing 10342 - 54887
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.
Listing Highlights
Interior Details
- Bedrooms: 36
- Bathrooms: 36 Full
- Appliances:
- Air Cond:
- Heating: Baseboard,Wall Furnace
- Fireplaces: 0
- Floor: Laminate,Vinyl,Vinyl Plank,Carpet
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Lakehaven Water & Sewer District
Exterior Details
- Lot Description: Cul-De-Sac,Curbs,Paved,Patio,Zoning: Multi-Family
- Garage Capacity: N/A
- Parking Spaces: 36
- Zoning: Multi-Family
- Roof: Metal
- Others: Wood Products,Updated/Remodeled
- Sewer: Lakehaven Water & Sewer District
Financial Details
- Tax Amount: $49,865
- Taxes w/Assessments: N/A
- Tax/Property ID: 0521049202
- Tax Year: 2026
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Questions About..
30323 15th Ct S Federal Way, WA 98003
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