INVESTOR ALERT! Bring your hard hat and unlock the potential! Opportunity knocks in Federal Way with this income-producing duplex situated on a spacious, fully fenced lot with excellent access to freeways, shopping, and public transportation. Both units have a strong rental history and are always rented, making this an attractive opportunity for investors looking to add a cash-flowing property to their portfolio. The upper unit offers approximately 1,450 sq ft with 4 bedrooms and 1 bathroom, plus a dishwasher and cozy fireplace. It also features a 1-car garage and access to the property's RV parking. The lower unit provides approximately 950 sq ft with 2 bedrooms and 1 bathroom, along with a dishwasher and fireplace. A separate laundry room adds convenience for the property. With 5 bedrooms and 2 bathrooms combined, a generous lot, garage, RV parking, and convenient location, this duplex offers plenty of potential for an investor willing to bring vision and a little sweat equity. Value add opportunity, solid rental demand, and location make this one worth a look! Bring your hard hat and imagination, this could be the investment opportunity you've been waiting for!
Pending
Listed by: Berkshire Hathaway HS NW • James F. Smith • 206-290-6387
$499,950
29440 18th Avenue S, Federal Way, WA 98003
6beds
2baths
2,350sqft
Duplex, Multi Family
Built in 1962
-- sqft lot
$501,100 Zestimate®
$213/sqft
$-- HOA
What's special
Cozy fireplaceRv parkingGenerous lotSpacious fully fenced lotSeparate laundry room
- --
- on Zillow
- 483
- views
- 31
- saves
Likely to sell faster than
Zillow last checked:
Listing updated:
Listed by:
James F. Smith 206-290-6387 jamessmith@BHHSNWRealEstate.com,
Berkshire Hathaway HS NW,
Angie Smith 206-290-6386,
Berkshire Hathaway HS NW
Source: NWMLS as distributed by MLS GRID,MLS#: 2582168
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 6
- Bathrooms: 2
Heating
- Baseboard, Forced Air, Electric, Natural Gas
Cooling
- None
Features
- Flooring: Vinyl, Carpet
- Has fireplace: No
Interior area
- Total structure area: 2,350
- Total interior livable area: 2,350 sqft
Property
Parking
- Total spaces: 5
- Parking features: RV Parking
- Garage spaces: 1
- Uncovered spaces: 4
Features
- Has view: Yes
- View description: Territorial
Lot
- Size: 7,501 Square Feet
- Features: Curbs, High Voltage Line, Paved, Cable TV, Fenced-Fully, Gas Available, RV Parking
Details
- Parcel number: 6720500010
- Zoning description: Residential,Jurisdiction: City
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Duplex
- Property subtype: Duplex, Multi Family
Materials
- Wood Siding
- Foundation: Poured Concrete
- Roof: Composition
Condition
- Year built: 1962
- Major remodel year: 1962
Utilities & green energy
- Electric: Company: PSA
- Sewer: Sewer Connected, Company: Lakehaven Water
- Water: Public, Company: Lakehaven Water
- Utilities for property: Xfinity, Xfinity
Community & HOA
Community
- Subdivision: Federal Way
Location
- Region: Federal Way
Financial & listing details
- Price per square foot: $213/sqft
- Tax assessed value: $556,000
- Annual tax amount: $5,765
- Date on market: 9/15/2026
- Listing terms: Conventional,Rehab Loan
Estimated market value
$501,100
$476,000 - $526,000
$2,242/mo
Price history
| Date | Event | Price |
|---|---|---|
| 9/18/2026 | Pending sale | $499,950$213/sqft |
Source: | ||
| 9/15/2026 | Listed for sale | $499,950$213/sqft |
Source: | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $5,765 +7.1% | $556,000 +4.3% |
| 2024 | $5,385 +0.9% | $533,000 +9.9% |
| 2023 | $5,336 +2.4% | $485,000 -8.1% |
| 2022 | $5,210 +12.9% | $528,000 +30.4% |
| 2021 | $4,615 +9.5% | $405,000 +16.7% |
| 2020 | $4,216 +5.5% | $347,000 +4.2% |
| 2019 | $3,995 +9.1% | $333,000 +5.4% |
| 2018 | $3,663 -9.8% | $316,000 +11.3% |
| 2017 | $4,063 +37.6% | $284,000 +8.4% |
| 2016 | $2,952 | $262,000 +23.6% |
| 2015 | $2,952 | $212,000 +5.5% |
| 2014 | $2,952 | $201,000 +18.2% |
| 2013 | $2,952 | $170,000 +4.9% |
| 2012 | -- | $162,000 -7.4% |
| 2011 | -- | $175,000 -25.2% |
| 2010 | -- | $234,000 |
| 2009 | -- | $234,000 -2.1% |
| 2007 | -- | $239,000 +5.8% |
| 2006 | -- | $226,000 +9.7% |
| 2005 | -- | $206,000 +28% |
| 2001 | $2,167 +4.6% | $161,000 +8.8% |
| 2000 | $2,072 | $148,000 |
Find assessor info on the county website
Monthly payment
Est. payment







