LKV Realty
Logo
David W PetersenWestlake Associates, Inc.
$2,725,000
30853 14th Avenue S, Federal Way, WA 98003Listing ID 2566450

30853 14th Avenue S, Federal Way, WA 98003

Active
Federal Way
Last updated: Aug 7, 2026
Property Type
Property Type
Residential Income
Property Sub Type
Property Sub Type
Multi Family
Square Feet
Square Feet
9,420
Acres
Acres
0.71
Cooling
Cooling
None
Heating
Heating
Baseboard
Year Built
Year Built
1958

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 6.20% 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.

Property Information

Property Details

Location

Address
30853 14th Avenue S
County
King
City
Federal Way
Zip Code
98003
Subdivision
Federal Way
School District
Federal Way
MLS Area
110 - Dash Point/Federal Way

Interior Features

Heating and Cooling

Cooling
None
Heating
Baseboard

Building

Building Information

Square Feet
9,420
Year Built
1958
Construction
Brick, Wood
Roof
Flat

Financial

Special Conditions
None

Property Taxes

Tax Annual Amount
$26,635
Tax Year
2026
Source: Northwest Multiple Listing Service
Northwest Multiple Listing Service logo

Based on information submitted to the MLS GRID as of 17 Aug 2026, 11:13 AM UTC. All data is obtained from various sources and may not have been verified by broker or MLS GRID. 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. Some IDX listings have been excluded from this website. IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This data is deemed reliable but is not guaranteed by MLS GRID. The use of the MLS GRID Data may be subject to an end user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time. MLS GRID may, at its discretion, require use of other disclaimers as necessary to protect Member Participant, and/or their MLS from liability.

For corrections to this data please contact Brytecore MLS Support.

NWM58692 • NWM102826

*Average of $2,150 in rewards is calculated based on the purchase or sale of a home between $400,000 to $449,000. The median home price for all housing types is in the United States is $405,400 as of 2025 as reported by the National Association of Realtors® (NAR). The actual reward amount may vary depending on the purchase or sales price of the home. Please see the Lakeview Home Rewards program terms and conditions for more details. The National Association of Realtors® is a registered trademark of the National Association of Realtors®.