Date
Details
Price
Change
Source
8/05/2026
Listed
$4,950,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
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$4,950,000
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Property Description
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.
Full Property Details
Full Property Details for 30323 15th Ct S
General
- Price: $4,950,000
- Taxes: $49,865 (2026)
- Status: Active
- Type: Multi-Family
- Source: NWMLS
- MLS ID: 2564976
- Updated: 8/5/2026
- Added to Site: 23 day(s) ago
Interior
- Flooring: Laminate, Vinyl, Vinyl Plank, Carpet
Additional Information
- Amenities: Patio
Parking
- Uncovered Spaces: 36
Location
- Area: 120 - Des Moines/Redondo
- County: King
- Subdivision: Redondo
- Driving Directions: From I-5, take Exit 147 (S 272nd St) and head west. Turn south on Pacific Hwy S, west on S 304th St, then south to 15th Ct S. Property is on the east side.
School Information
- High School District: Federal Way
- Elementary School: Nautilus Elem
- Middle School: Sacajawea Jnr High
- High School: Federal Way Snr High
Heating & Cooling
- Cooling Type: None
- Heating Type: Baseboard, Wall Furnace
Utilities
- Sewer: Sewer Connected
- Water: Public
Structural Information
- Structure Type: Multi Family
- Exterior Const.: Wood Products
- Foundation: Poured Concrete
- Roof: Metal
- Stories in Building: 2
- Square Feet: 18,180
- Year Built: 1976
- Property Condition: Updated/Remodeled
Unit Information
- Units in Building: 18
Lot Features
- Property View: Territorial
- Lot Size (Acres): 0.9642
- Lot Size (Sq. Ft.): 42,000
- Lot Size Source: King County
- Lot Features: Cul-De-Sac, Curbs, Paved
- Zoning: Multi-Family
Financial Considerations
- Tax Amount: $49,865
- Tax Year: 2026
- Terms: Assumable, Cash, Conventional
Disclosures and Reports
- Special Conditions: None
- Property ID: 521049202
Listed by Steve Fischer | Northmarq Multifamily, LLC | (952) 356-0100
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NMLS#: 1598647
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Schools
Schools serving 30323 15th Ct S
School District:Federal Way School District
| Name | Grades | Distance |
|---|---|---|
Nautilus Elementary School 1000 South 289th Street, Federal Way, WA 98003 | K-5 | 0.9 mi |
Sacajawea Middle School, Federal Way, WA 1101 South Dash Point Road, Federal Way, WA 98003 | 6-8 | 0.4 mi |
Federal Way Senior High School 30611 16th Avenue South, Federal Way, WA 98003 | 9-12 | 0.2 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 30323 15th Ct S
Tax History
Tax History for 30323 15th Ct S
Year
Property Taxes
Change
Tax Assessment
Change
2026
$13,056
2%
$1,150,000
-3%
2024
$12,813
1%
$1,181,800
12%
2024
$12,655
19%
$1,055,000
—
2022
$10,655
—
$1,055,000
16%
2021
$10,651
—
$913,000
5%
2021
$10,651
7%
$866,000
6%
2020
$9,940
19%
$814,000
15%
2019
$8,365
-5%
$705,000
18%
2018
$8,771
6%
$599,000
6%
2017
$8,282
-1%
$565,000
3%
2016
$8,363
7%
$547,000
5%
2015
$7,793
-2%
$521,000
8%
2014
$7,975
—
$484,000
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 30323 15th Ct S
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30323 15th Court S, Federal Way, WA 98003 (MLS# 2564976) is a Multi-Family property with 18 units containing 0 bedrooms and 0 full bathrooms. 30323 15th Court S is currently listed for $4,950,000 and was received on August 05, 2026. Want to learn more about 30323 15th Court S? Do you have questions about finding other Multi-Family real estate for sale in Federal Way City Center? You can browse all Federal Way City Center real estate or contact a Coldwell Banker agent to request more information.