28426 S 16th Ave, Federal Way, WA 98003

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.

Listing Status:

Active

Data Last Updated:

May 20, 2026 at 5:21PM

Listing Office:

Real Broker LLC : 855-450-0442

Listing Agent:

Coleton Alexander Pantley : 855-450-0442

MLS ID:

2510472

Interior

• A/C: None
• Heating: Forced Air
• Fireplace: Fireplaces: 0

Exterior

• General: Wood Products
• Parking: Parking spaces: 12

Construction

• Roofing: Composition
• General: 55 - 5-9 Units

Location

• HOA Amenities: 0.0
• Originating MLS: nwmls
• School District: Federal Way
• County: King

Lot

• Zoning: 7876210000
• View: SoundView

Utilities

• Water: Public
• Sewer: Sewer Connected

Financial

• Source: nwmls