31224 28th Avenue S, Federal Way, WA 98003

$1,025,000
5
BD
2
BA
2,540
SqFt

Listing courtesy of John L. Scott R.E. Lake Tapps. Selling Office: Best Choice Realty.

Sold Price
$1,025,000
List Price
$1,200,000
Status
SOLD
MLS#
2197072
Closing Date
Jun 14, 2024
Days on Market
70
Bedrooms
5
Finished SqFt
2,540
Area Total SqFt
2540
Annual Tax Ammount
9150.9
Lot Size (sq ft)
41,236
Fireplace
Yes
Sewer
Sewer Connected

Property Description

Prime opportunity - 2 rental units located in desirable Downtown Federal Way w/3 parcels totaling .95 acre (41,236 SF) zoned RM2400 Multi-family. Great opportunity to collect rents while you develop this flat, dry land, perfect access with all utilities available (water, sewer, electricity, gas). Immediate access to I-5, HOV on/off ramps & conventionally close to Hwy 167, 18 w/walking distance to shopping, FW mall, Steel Lake, restaurants & most importantly the new Sound Transit Light rail & bus station. This is a remarkable opportunity, allowable usages include zero lot line townhouses, multi-family dwelling stack units, senior housing. This site receives good exposure w/157' of frontage on 28th Ave located between 2 apartment complexes.

Additional Information

Community
Steel Lake
Style
10 - 1 Story
Basement
None
Year Built
1961
Total Covered Parking
1
View
Mountain(s), Territorial
Roof
Composition
Site Features
Fenced-Partially, High Speed Internet, Outbuildings, RV Parking
Tax Year
2023
School District
Federal Way
Potential Terms
Cash Out, Conventional
Interior Features
Wall to Wall Carpet, Fireplace, Water Heater
Flooring
Vinyl, Carpet
Driving Directions
From I-5 North, Take 320th Street exit, Right onto 320th St., Right onto Gateway Ctr Blvd, Right on 28th Ave S, follow thru round about past HOV I-5 entrance, Right on 28th Ave. Property down on Right
Appliance
Refrigerator(s), Stove(s)/Range(s)
Appliances Included
Refrigerator(s), Stove(s)/Range(s)
Water Heater Location
closet
Water Heater Type
electric
Energy Source
Electric
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