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$2,725,000

  • For Sale
  • Active
  • Multi-Family
  • Updated 10 days ago

Listed by David W Petersen | Westlake Associates, Inc. | (206) 505-9400 and Chad Michael Martini | Westlake Associates, Inc. | (206) 505-9400

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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.

Full Property Details for 30853 14th Ave S

General

  • Price: $2,725,000
  • Taxes: $26,635 (2026)
  • Status: Active
  • Type: Multi-Family
  • Source: NWMLS
  • MLS ID: 2566450
  • Updated: 8/17/2026
  • Added to Site: 21 day(s) ago

Additional Information

  • Amenities: Fenced-Partially, Patio
  • Security/Safety: Partially Fenced

Parking

  • Carport Spaces: 3
  • Covered Spaces: 3
  • Uncovered Spaces: 17

Location

  • Area: 110 - Dash Point/Federal Way
  • County: King
  • Subdivision: Federal Way
  • Driving Directions: From Pacific Hwy S (SR-99), head west on S 312th St, then turn right on 14th Ave S. Continue approx 0.2 mi, site will be on the left side.

School Information

  • High School District: Federal Way

Heating & Cooling

  • Cooling Type: None
  • Heating Type: Baseboard

Utilities

  • Sewer: Sewer Connected

Structural Information

  • Structure Type: Multi Family
  • Exterior Const.: Brick, Wood
  • Roof: Flat
  • Stories in Building: 2
  • Square Feet: 9,420
  • Year Built: 1958

Unit Information

  • Units in Building: 16

Lot Features

  • Lot Size (Acres): 0.7128
  • Lot Size (Sq. Ft.): 31,050
  • Lot Size Source: KCA
  • Lot Features: Curbs, Paved, Sidewalk
  • Zoning: Multi-Family

Financial Considerations

  • Tax Amount: $26,635
  • Tax Year: 2026
  • Terms: Cash, Conventional

Disclosures and Reports

  • Special Conditions: None
  • Property ID: 821049138

Listed by David W Petersen | Westlake Associates, Inc. | (206) 505-9400 and Chad Michael Martini | Westlake Associates, Inc. | (206) 505-9400

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Schools serving 30853 14th Ave S

School District:Federal Way School District
NameGradesDistance
Nautilus Elementary School
1000 South 289th Street, Federal Way, WA 98003
K-51.3 mi
Sacajawea Middle School, Federal Way, WA
1101 South Dash Point Road, Federal Way, WA 98003
6-80.7 mi
Federal Way Senior High School
30611 16th Avenue South, Federal Way, WA 98003
9-120.3 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 30853 14th Ave S Get Price Alerts and Save Property

Date
Details
Price
Change
Source
8/07/2026
Listed
$2,725,000
10.55%
MLS
1/28/2019
Sold
$2,465,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 30853 14th Ave S

Year
Property Taxes
Change
Tax Assessment
Change
2026
$26,635
6%
$2,484,000
3%
2025
$25,060
-8%
$2,409,000
-8%
2024
$27,351
5%
$2,624,000
—
2022
$26,033
2%
$2,624,000
13%
2021
$25,630
—
$2,322,000
10%
2021
$25,630
13%
$2,114,000
12%
2020
$22,631
21%
$1,882,000
17%
2019
$18,683
-3%
$1,602,000
21%
2018
$19,171
9%
$1,329,000
10%
2017
$17,528
2%
$1,213,000
6%
2016
$17,236
7%
$1,142,000
5%
2015
$16,111
-2%
$1,092,000
8%
2014
$16,448
—
$1,010,000
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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Listed by David W Petersen | Westlake Associates, Inc. | (206) 505-9400 and Chad Michael Martini | Westlake Associates, Inc. | (206) 505-9400

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30853 14th Avenue S, Federal Way, WA 98003 (MLS# 2566450) is a Multi-Family property with 16 units containing 0 bedrooms and 0 full bathrooms. 30853 14th Avenue S is currently listed for $2,725,000 and was received on August 07, 2026. Want to learn more about 30853 14th Avenue S? Do you have questions about finding other Multi-Family real estate for sale in Federal Way? You can browse all Federal Way real estate or contact a Coldwell Banker agent to request more information.

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