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
$500,400 Zestimate®
$--/sqft
$-- HOA
What's special
- 497 days |
- 1 |
- 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: $572,000
- Annual tax amount: $1,840
- Date on market: 3/27/2026
- Cumulative days on market: 147 days
- Listing terms: Conventional
- Road surface type: Paved
Estimated market value
$500,400
$385,000 - $636,000
$2,022/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+418.2% |
Source: NWMLS as distributed by MLS GRID #2352205 Report a problem | ||
| 12/28/2000 | Sold | $550,000 |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $4,048 -1.2% | $409,100 |
| 2024 | $4,096 +122.6% | $409,100 +164.8% |
| 2023 | $1,840 +20.5% | $154,500 +9.8% |
| 2022 | $1,527 +8.8% | $140,700 +25.4% |
| 2021 | $1,404 +32.5% | $112,200 |
| 2019 | $1,059 +7.8% | -- |
| 2018 | $982 | $77,400 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.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.
- $899,9004 bd3 ba3k sqft2126 SW 344th Ct, Federal Way, WA 98023For Sale
- $2,850,0005.29 acres34249 21st Ave SW, Federal Way, WA 98023Pending
- $761,9004 bd3 ba2.7k sqft2125 SW 344th Court Em11, Federal Way, WA 98023Off Market
- $822,4004 bd3 ba3.2k sqft2110 SW 344th Court Em5, Federal Way, WA 98023Off Market
- $787,8004 bd3 ba3k sqft2102 SW 344th Court Em6, Federal Way, WA 98023Off Market
- $755,6004 bd3 ba2.7k sqft2134 SW 344th Court Em1, Federal Way, WA 98023Off Market
- $748,8004 bd3 ba2.6k sqft2130 SW 344th Court Em2, Federal Way, WA 98023Off Market
- $745,4004 bd3 ba2.6k sqft2118 SW 344th Court Em4, Federal Way, WA 98023Off Market
A local agent can set up tours, give advice and negotiate with sellers.
Similar homes
- $2,750,0004.33 acres4406 S 338 Street N, Auburn, WA 98001Active
MLS ID #2465162, Jess S. Salazar. NWMLS as distributed by MLS GRID - $1,500,0004.68 acres31 XXX 32nd Avenue S, Federal Way, WA 98003Active
MLS ID #2555834, Troy M. Lehman. NWMLS as distributed by MLS GRID - $2,500,00019.26 acres3304 E Pioneer, Puyallup, WA 98372Active
MLS ID #2537043, Charles Wilcox. NWMLS as distributed by MLS GRID - $2,900,00061.36 acresFairwood Ranch, Kent, WA 98042Active
MLS ID #2365351, James Ronald Merritt. NWMLS as distributed by MLS GRID - $2,495,0004.21 acres13617 A Street S, Tacoma, WA 98444ActiveMLS ID #2525374, Lisa Racca. NWMLS as distributed by MLS GRID
- $2,299,0002.19 acres25940 Pacific Hwy S, Des Moines, WA 98198ActiveMLS ID #2549388, Ricky L. Mouw. NWMLS as distributed by MLS GRID
- $2,900,0004.53 acres19608 8th Avenue E, Spanaway, WA 98387ActiveMLS ID #2522396, Robert Morrison. NWMLS as distributed by MLS GRID
- $1,799,95014.48 acres12511 Hallstrom Dr NW Drive NW, Gig Harbor, WA 98332ActiveMLS ID #2371949, Sean Roberts. NWMLS as distributed by MLS GRID
- $3,000,0005 acres16701 22nd Avenue E, Tacoma, WA 98445ActiveMLS ID #1750047, Jess S. Salazar. NWMLS as distributed by MLS GRID
- $3,330,0000.92 acres31000 18th Avenue S, Federal Way, WA 98003ActiveMLS ID #2427173, Tony Kang S Kim. NWMLS as distributed by MLS GRID
- $2,700,0002.67 acres16504 3rd Avenue SW, Burien, WA 98166ActiveMLS ID #2433271, Edward Krigsman. NWMLS as distributed by MLS GRID
- $2,770,0009.04 acres18707 Rhodes Lake Road E, Bonney Lake, WA 98391ActiveMLS ID #2551097, Carrie Haymond. NWMLS as distributed by MLS GRID
- $2,999,9501.66 acresHwy 16 & Pine, Tacoma, WA 98409ActiveMLS ID #2428411, Don M. Goethals. NWMLS as distributed by MLS GRID
- $1,500,0000.78 acres30600 Pacific Highway S, Federal Way, WA 98003ActiveMLS ID #2495945, Hiep Vinh. NWMLS as distributed by MLS GRID
- $2,400,0009.33 acres0 xxxx Hiway 410 E, Bonney Lake, WA 98391ActiveMLS ID #1688744, Paul Webber. NWMLS as distributed by MLS GRID
- $3,200,0001.41 acresRiver View Add To Auburn, Auburn, WA 98002ActiveMLS ID #2448278, Hyun Rim. NWMLS as distributed by MLS GRID
- $3,750,0005 acresTehaleh, Bonney Lake, WA 98391ActiveMLS ID #2516611, Carrie Haymond. NWMLS as distributed by MLS GRID
- $2,250,0002.69 acres22512 State Route 410 E, Sumner, WA 98391Lot/LandBerkshire Hathaway HomeServices NW
- $2,100,0000.34 acresMap Of New Tacoma, Tacoma, WA 98402ActiveMLS ID #2511012, Andrew J. Brooks. NWMLS as distributed by MLS GRID
- $1,500,0009.54 acres0 126th Avenue E, Graham, WA 98338ActiveMLS ID #2354947, Thomas Ku. NWMLS as distributed by MLS GRID
