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.
Active
Listed by: Northmarq Multifamily, LLC • Steven Fischer
$4,950,000
30323 15th Court S, Federal Way, WA 98003
36beds
36baths
18,180sqft
Multi Family
Built in 1976
-- sqft lot
$4,524,700 Zestimate®
$272/sqft
$-- HOA
What's special
- --
- on Zillow
- 163
- views
- 10
- saves
Zillow last checked:
Listing updated:
Listed by:
Steven Fischer,
Northmarq Multifamily, LLC
Source: NWMLS as distributed by MLS GRID,MLS#: 2564976
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 36
- Bathrooms: 36
Heating
- Baseboard, Wall Furnace, Electric
Cooling
- None
Features
- Flooring: Laminate, Vinyl, Vinyl Plank, Carpet
- Has fireplace: No
Interior area
- Total structure area: 18,180
- Total interior livable area: 18,180 sqft
Property
Parking
- Total spaces: 36
- Uncovered spaces: 36
Features
- Has view: Yes
- View description: Territorial
Lot
- Size: 0.96 Acres
- Features: Cul-De-Sac, Curbs, Paved, Patio
Details
- Parcel number: 0521049202
- Zoning description: Multi-Family,Jurisdiction: City
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Architectural style: 10+ Units
- Property subtype: Multi Family
Materials
- Wood Products
- Foundation: Poured Concrete
- Roof: Metal
Condition
- Updated/Remodeled
- Year built: 1976
- Major remodel year: 1976
Utilities & green energy
- Electric: Company: Puget Sound Energy
- Sewer: Sewer Connected, Company: Lakehaven Water & Sewer District
- Water: Public, Company: Lakehaven Water & Sewer District
- Utilities for property: Comcast Xfinity, Comcast Xfinity
Community & HOA
Community
- Subdivision: Redondo
Location
- Region: Federal Way
Financial & listing details
- Price per square foot: $272/sqft
- Annual tax amount: $49,865
- Date on market: 8/5/2026
- Listing terms: Assumable,Conventional
Estimated market value
$4,524,700
$4.30M - $4.75M
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 8/5/2026 | Listed for sale | $4,950,000$272/sqft |
Source:  NWMLS as distributed by MLS GRID #2564976 Report a problem | ||
| 12/29/2017 | Listing removed | $1,495 |
Source: Chezon Reynolds Report a problem | ||
| 12/17/2017 | Listed for rent | $1,495 |
Source: Chezon Reynolds Report a problem | ||
Public tax history
Tax history is unavailable.
Monthly payment
Est. payment
Payment breakdown
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Neighborhood: Steel Lake
Nearby schools
Schools provided by the listing agent
- Elementary: Nautilus Elem
- Middle: Sacajawea Jnr High
- High: Federal Way Snr High
Source: NWMLS as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
