28426 S 16th Ave, Federal Way, WA 98003
Courtesy of Real Broker LLC
- $1,700,000
- List Price
- $1,700,000
- Status
- ACTIVE
- Days on Market
- 97
- MLS#
- 2510472
- Subtype
- Residential Income
- Style
- 55 - 5-9 Units
- Year Built
- 1978
- Lot Size
- 14,736
- Acres
- 0.34
- Subdivision
- Redondo
- Neighborhood
- Redondo
- MLS Area Major
- Dash Point/Federal Way
Property Description
Rare opportunity to acquire Soundview II, a turn-key, six-unit multifamily asset in Federal Way's coveted Redondo neighborhood. This condo-style complex features expansive 1,170 SF 2-bed/1.5-bath floor plans designed for high-retention ccupancy. Units boast premium amenities including private west-facing balconies with partial Puget Sound views, fireplaces, in-unit full-size W/D, LVP flooring, and stainless appliances. With the December 2025 Link Extension opening, residents enjoy rapid light rail access to SEATAC and Downtown Seattle while maintaining a significant affordability advantage. Historically self-managed with little deferred maintenance, the property offers a clear value-add runway; implement targeted cosmetic upgrades to countertops and cabinetry to capture immediate rent premiums. Positioned in a supply-constrained submarket with local development moratoriums and a median household income projected to grow 53% by 2030, Soundview Il is a high-yield, low-risk addition to any portfolio. Proximity to Dash Point State Park and I-5 ensures durable demand for years to come.
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Additional Information
- Exterior Features
- Wood Products
- Property Description
- 55 - 5-9 Units
- Heating
- Forced Air
- Air Conditioning
- None
- Roof
- Composition
- School District
- Federal Way
- View
- Sound
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