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Explore Similar Apartments Within 2 Miles of Steel Lake, WA

  • /16

    $750,000

    • 4 Beds
    • 4 Baths
    • 2,250 Sq Ft

    28921 28th Place S, Federal Way, WA 98003

    Excellent investment opportunity in a high-demand rental area! Ideal for first-time investors or owner-occupants. This side-by-side townhouse-style duplex offers private, fenced backyards, 2 beds, 1.5 baths per unit, updated kitchens, in-unit washer/dryers, and off-street parking. One unit will be vacant by end of August—perfect for FHA/VA owner-occupant financing. Conveniently located near

    Pamela Davison Redfin

    28921 28th Place S, Federal Way, WA 98003
  • /37

    $1,044,995

    • 8 Beds
    • 8 Baths
    • 3,904 Sq Ft

    23 S 338th Place, Federal Way, WA 98003

    Excellent investment opportunity! This spacious 4-plex offers 3,904 rentable sq ft and strong income potential. Each unit is 2 bedroom, 1.5 baths and 3 units have been updated with fresh paint and carpet. Units provide comfortable living space, making it ideal for both long-term tenants and short-term rentals. Located in a desirable area with easy access to amenities, transit and schools. This

    Stephen Janho Windermere RE West Campus Inc

    23 S 338th Place, Federal Way, WA 98003
  • /3

    $1,200,000

    • 8 Beds
    • 4 Baths
    • 3,600 Sq Ft

    120 S 339th Cir, Federal Way, WA 98003

    This is 4 plex multi family home in very good location in Federal Way. Complete exterior & interior. Well managed and fully occupied units. 2 bedrooms/1 bathroom, washer/dryer, fireplace. Cross the road is public library. Easy access to I-5, Hwy 19 &99. Very good opportunity to own 4-plex with 5% net income.

    Chong Tae Min Q Star Seattle Corporation

    120 S 339th Cir, Federal Way, WA 98003
  • /3

    $1,200,000

    • 8 Beds
    • 4 Baths
    • 3,600 Sq Ft

    27 S 342nd Place, Federal Way, WA 98003

    This is 4 plex multi family home in very good location in Federal Way. Complete exterior & interior. Well managed and fully occupied units. 2 bedrooms/1 bathroom, washer/dryer, fireplace. Cross the road is public library. Easy access to I-5, Hwy 19 &99. Very good opportunity to own 4-plex with 5% net income.

    Chong Tae Min Q Star Seattle Corporation

    27 S 342nd Place, Federal Way, WA 98003
  • /17

    $1,100,000

    • 8 Beds
    • 8 Baths
    • 4,036 Sq Ft

    34005 1st Cir S, Federal Way, WA 98003

    This well-maintained 4-plex in the desirable Campus View community presents an excellent investment opportunity. Each of the four spacious units features 2 bedrooms, 1.5 bathrooms, 1,009 sq. ft. of living space, a cozy fireplace, and an in-unit washer and dryer. Residents enjoy the convenience of a dedicated covered parking spot, plus additional visitor parking. Professionally managed for a

    Ton Nguyen 360 Pacific

    34005 1st Cir S, Federal Way, WA 98003
  • /17

    $2,995,000

    • 28 Beds
    • 17 Baths
    • 9,612 Sq Ft

    30853 14th Ave S, Federal Way, WA 98003

    Welcome to the Lake Apartments in Federal Way, a portal into a classic 1958-built brick, 16 unit apartment building. This 2 story building is surrounded by grass and vegetation on a huge 31,000 square foot lot. Just off Pacific Highway, this building is a reasonable commute to the major hubs and will be close to the future Federal Way light rail stop. Groceries, restaurants, transit, and

    Shavic Jones Windermere Real Estate Co.

    30853 14th Ave S, Federal Way, WA 98003
  • /9

    $675,000 New Construction

    • 8 Beds
    • 8 Baths

    4950 S 298th St, Federal Way, WA 98001

    Prime Development Opportunity! Approved permits in hand for an 8-unit multifamily project featuring thoughtfully designed 1-bedroom, 1-bath units perfect for strong rental demand. Sale is for land only. Located in a thriving neighborhood with excellent access to amenities, transit, and major highways. Offering a flexible turnkey solution for developers or investors. This fully permitted project

    Vadim Polishchuk Skyline Properties, Inc.

    4950 S 298th St, Federal Way, WA 98001

Why Live in Steel Lake

Steel Lake in Federal Way is a neighborhood characterized by its elevated homes and towering pine trees, many of which have private docks and patios overlooking the tranquil waters of Steel Lake. The area features a mix of classic single-level, raised ranch-style, and split-level homes, with prices ranging from $400,000 to $900,000. The Overlook, a three-story condominium complex, offers more affordable options between $250,000 and $350,000. Steel Lake Park, a 53-acre green space, is a local attraction with a sandy beach, boat launches, beach volleyball, a skate park, and a large playground. Nearby Wildwood Park and Sacajawea Park provide additional recreational facilities, including sports fields and paved trails. The neighborhood is car-dependent, bordered by Route 99 and I-5, with easy access to Tacoma (14 miles south) and Seattle (22 miles north). Public transportation is available via Sound Transit buses, and a light rail system is under construction, set to connect the area by 2026. The city center, just south of Steel Lake, offers retail options, supermarkets, and diverse dining experiences, such as 85°C Bakery Café and Mirak Korean BBQ.

Home Trends in Steel Lake, WA

Housing Trends

Median Sale Price
$615,000
Median Single Family Sale Price
$629,975
Median 2 Bedroom Sale Price
$232,499
Average Price Per Sq Ft
$334
Number of Homes for Sale
3
Last 12 months Home Sales
32
Months of Supply
1.10
Median List Price
$625,000
Median Change From 1st List Price
0%
Median Home Sale Price YoY Change
-17%
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