Seize the potential of 5.29 acres in Federal Way, zoned RS 7.2 for various permitted uses! From single-family homes (~28 lots est) to community/rec center/clubhouse, church/place of worship, school, daycare, special needs housing, public utilities/transit center, cemetery or cottage food operation. Existing features include a community garden setup, outbuildings, & a 570-sf small home structure. Sewer, city water, and all other utilities in street for development. Fully improved streets on E, S, & N sides. A driveway is already in place, ready to support your development vision. Park & ride adjacent, grocery shopping, business services close by. Easy access to I-5. Sold AS IS—don’t miss this opportunity to bring your dream project to life!
Pending feasibility
Listed by: KW Mountains to Sound Realty • David R Knight
$2,850,000
34249 21st Avenue SW, Federal Way, WA 98023
--beds
--baths
5.29Acres
Unimproved Land
Built in ----
5.29 Acres Lot
$-- Zestimate®
$--/sqft
$-- HOA
What's special
Community garden setup
- 452 days |
- 11 |
- 0 |
Zillow last checked:
Listing updated:
Listed by:
David R Knight,
KW Mountains to Sound Realty
Source: NWMLS as distributed by MLS GRID,MLS#: 2352205
Facts & features
Interior
Features
- Has fireplace: No
Interior area
- Total structure area: 0
Property
Features
- Has view: Yes
- View description: Territorial
Lot
- Size: 5.29 Acres
- Features: Corner Lot, Curbs, Paved, Sidewalk, Brush, Evergreens, Lightly Treed, Partially Cleared
- Topography: Level,Rolling
Details
- Parcel number: 2421039005
- Zoning: RS 7.2
- Zoning description: Residential,See Remarks,Jurisdiction: City
- Special conditions: See Remarks
Utilities & green energy
- Electric: Available
- Gas: Available
- Sewer: Available, In Street
- Water: Available, In Street, Jurisdiction: Lakehaven
- Utilities for property: Electricity Available, Natural Gas Available
Community & HOA
Community
- Subdivision: Federal Way
Location
- Region: Federal Way
Financial & listing details
- Tax assessed value: $70,500
- Annual tax amount: $1,840
- Date on market: 3/28/2026
- Cumulative days on market: 101 days
- Listing terms: Conventional
- Road surface type: Paved
Estimated market value
Not available
Estimated sales range
Not available
$2,050/mo
Price history
| Date | Event | Price |
|---|---|---|
| 7/31/2025 | Pending sale | $2,850,000 |
Source:  NWMLS as distributed by MLS GRID #2352205 Report a problem | ||
| 7/16/2025 | Listed for sale | $2,850,000 |
Source: NWMLS as distributed by MLS GRID #2352205 Report a problem | ||
| 6/13/2025 | Pending sale | $2,850,000 |
Source: NWMLS as distributed by MLS GRID #2352205 Report a problem | ||
| 4/10/2025 | Listed for sale | $2,850,000 |
Source: NWMLS as distributed by MLS GRID #2352205 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2017 | $1,089 +12.4% | $70,500 +9.8% |
| 2016 | $969 | $64,200 -63.5% |
| 2015 | -- | $175,800 +187.3% |
| 2014 | $969 | $61,200 +60.6% |
| 2013 | $969 | $38,100 |
Find assessor info on the county website
Monthly payment
Est. payment$--/mo
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
See how much you could borrow to make a competitive offer.
Climate risks
Neighborhood: Twin Lakes
Nearby schools
GreatSchools rating
- 4/10Olympic View Elementary SchoolGrades: K-7Distance: 1.1 mi
- 3/10Technology Access Foundation Academy at SaghalieGrades: 6-12Distance: 0.5 mi
- 4/10Decatur High SchoolGrades: 9-12Distance: 1.6 mi
Schools provided by the listing agent
- Elementary: Sherwood Forest Elem
- Middle: Illahee Jnr High
- High: Todd Beamer 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.
A local agent can set up tours, give advice and negotiate with sellers.
- Washington
- King County
- Federal Way
- 98023
- Twin Lakes
- 34249 21st Avenue SW
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