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Redondo Terrace
29421 Pacific Hwy S Federal Way WA 98003
Listing #: 714578 | Status: Available | Last Modified: 6/25/2026
| Showing Instructions | |
|---|---|
| Call Listing Agent | No |
| Use Discretion | No |
| Investment Information | |
|---|---|
| Investment Prop | Yes |
| Gross Income | 0 |
| Vacancy Factor % | 0.00% |
| Operating Expenses | 0 |
| Net Operating Income | 0 |
| CAP Rate | 6.00 % |
| Detail Listing Information | |
|---|---|
| Min Total SF | 0 SF |
| Max Total SF | 0 SF |
| Lease Rate Low | $ 0.00 |
| Lease Rate High | $ 0.00 |
| Retail Information | |
|---|---|
| Signage | Signage on Building and Freestanding |
| Building Information | |
|---|---|
| Building Status | Existing |
| # of Buildings | 4 |
| # of Floors | 3 |
| # of Units | 78 |
| Total Building SF | 57,492 SF |
| Net Rentable Area | 57,492 SF |
| Total Office SF | 0 SF |
| Largest Contiguous SF | 0 SF |
| Lot SF | 133,294 SF |
| Acres | 3.06 |
| Year Built | 1986 |
| Year Renovated | 2007 |
| Roof Type | Rect/Slight Irregula |
| Property Type | |
|---|---|
| Property Type | Multi-Family |
| Investment | Yes |
| Building Class | B |
| Location | |
|---|---|
| County | King |
| Market Area | Federal Way |
| Tax ID # | 3040200025 |
| Zoning | RM1800 |
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
Redondo Terrace
29421 Pacific Hwy S Federal Way WA 98003
Listing #: 714578 | Status: Available | Listing Date: 6/25/2026 | Last Modified: 6/25/2026 | Email Listing
For Sale
Redondo Terrace
