29421 Pacific Hwy S
Federal Way WA 98003
Redondo Terrace
29421 Pacific Hwy S Federal Way WA 98003
Listing #: 714578 | Status: Available | Last Modified: 6/25/2026 |
For Sale
- Phone:(206) 414-8575
- Email:dylan.simon@kidder.com
- Office Name:Kidder Mathews
- Office Phone:(208) 362-8600
- Office Website:
- Agent Phone:(425) 681-7695
- Agent Email:winslow.lee@kidder.com
- Agent Phone:(206) 665-3272
- Agent Email:jd.fuller@kidder.com
- Call Listing AgentNo
- Use DiscretionNo
- Listing Price$ 00.0
- $/SF$ 00.0
- $/Unit$ 00.0
- Listing StatusAvailable
- Days on Market15
- Asset ClassMulti-Family
- Terms
- Investment Type
- Investment PropYes
- Gross Income0
- Vacancy Factor %0.00%
- Operating Expenses0
- Net Operating Income0
- CAP Rate 6.00 %
- Min Total SF0
- Max Total SF0
- Lease Rate Low$ 00.0
- Lease Rate High$ 00.0
- Heat Source
- Total Units
- Water
- Electricity
- Storm Sewer
- SignageSignage on Building and Freestanding
- Anchor
- Building StatusExisting
- # of Buildings4
- # of Floors3
- # of Units78
- # of Elevators
- Clearance Height Min
- Clearance Height Max
- Bay Depth
- Total Building SF57492
- Net Rentable Area57492
- Total Office SF
- Largest Contiguous SF
- Lot SF133294
- Acres3.06
- Property TypeMulti-Family
- Office Type
- InvestmentYes
- Building ClassB
- CountyKing
- Vicinity
- Location Description
- Second Address
- Cross Street
- Market AreaFederal Way
- Tax ID #3040200025
- Additional Parcels
- ZoningRM1800
- Year Built1986
- Year Renovated2007
- Completion Date
- Roof TypeRect/Slight Irregula
- Construction Type
Redondo Terrace Apartments
Redondo Terrace is a 78-unit apartment community located at 29401 Pacific Hwy S in Federal Way, offering investors strong in-place income with future value-add potential. Built in 1986, the property features a desirable unit mix of 48 one-bedroom units and 30 two-bedroom units, with an average unit size of approximately 737 SF. The community is conveniently positioned along Pacific Highway with easy access to I-5, major employment centers, the Redondo Boardwalk, Federal Way High School, The Commons at Federal Way, and the Federal Way Transit Center. Current in-place rents average approximately $1,671 per unit, with market rents projected at approximately $1,780 per unit, providing a clear path for income growth through continued operations and unit renovations. With negligible new supply in the Federal Way pipeline and proximity to key retail, transit, and recreational amenities, Redondo Terrace presents a compelling opportunity to acquire scale in a well-located South King County multifamily asset.
Apts D+S #2371
