30323 15th Court S, Federal Way, WA 98003 (MLS # 2564976)

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Listing provided courtesy of Northwest MLS; Northmarq Multifamily, LLC

PRICE $4,950,000
BEDS 0
BATHS 0
HOME SIZE 18,180 sqft
LOT SIZE 42,001 sqft
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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.

LAST UPDATED 8/5/2026 TRACT Redondo
YEAR BUILT 1976 COMMUNITY Redondo
COUNTY King STATUS Active
PROPERTY TYPE(S) Multi Family

SCHOOLS
Elementary School Nautilus Elem
Jr. High School Sacajawea Jnr High
High School Federal Way Snr High


ADDITIONAL DETAILS
AIR None
AREA 120 - Des Moines/Redondo
CONSTRUCTION Wood Siding
HEAT Baseboard, Electric, Wall Furnace
LOT 0.9642 acre(s)
LOT DESCRIPTION Cul-de-sac, Curbs, Paved
MLS STATUS Active
STORIES 2
STYLE 56 - 10+ Units
SUBDIVISION Redondo
TAXES 49865
UTILITIES Sewer Connected
VIEW Yes
VIEW DESCRIPTION Territorial
WATER Public
ZONING Multi-Family

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Properties with the Logo icon are courtesy of Northwest MLS.

Listings courtesy of Northwest MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of 9/17/26 11:44 PM PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

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