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30323-30331 15th Ct S
Federal Way, WA 98003 Federal Way

$4,950,000 USD

Apartments For Sale  •  18,180 SF

Property Details

  • Property Type Apartments
  • Total Building Size 18,180 SF
  • Lot Size 0.08 AC
  • Building Class C
  • Year Built 1977
  • Zoning RM2400
30 Transit Score
60 Walk Score

Highlights

Attractive In-Place Yield: Offered at a 6.04% capitalization rate with stable in-place cash flow.
Rental Upside Opportunity: Current rents average $2,101 per month, approximately 12.46% below market
Value-Add Renovation Potential: Four unrenovated units provide an opportunity to increase rents
Extensively Remodeled Units: 14 of the 18 units have been remodeled with new cabinets, quartz countertops, flooring, paint, doors,etc.
Strategic Location: Located near the Federal Way Link Light Rail Station, major employment centers, retail amenities,etc.

Amenities

  • Dishwasher
  • Disposal
  • Fireplace
  • Microwave
  • Washer/Dryer

Public Transportation

Commuter RailDriveWalkDistance
Auburn Station (Seattle - Tacoma/Lakewood - Sound Transit) 11 min - 5.5 mi
Kent Station (Seattle - Tacoma/Lakewood - Sound Transit) 14 min - 7.3 mi
AirportDriveWalkDistance
Seattle-Tacoma International 20 min - 9.6 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 48
Type: Surface
Included in Rent: Yes
Tyler Smith 206-333-2724 Northmarq
Tyler Smith 206-333-2724 Northmarq