NOT LISTED FOR SALE

28422 16th Ave S Federal Way, WA 98003

Redondo-Federal Way Neighborhood

Estimated Value: $1,260,702 - $2,052,000

-- Bed
-- Bath
6,702 Sq Ft
$235/Sq Ft Est. Value

Last Sold May 20, 2016

Last sale price $962,000 $144 Per Sq Ft

Est. 64% increase in value since last sale

Current estimated payment $9,933/month

6 Days on Market

Highlights

  • Views of a Sound
  • Wood Flooring
  • Property is in very good condition
  • Deck

About This Home

As of May 2016

Extremely rare and sought after investment opportunity in an incredible location. 6 units total each 1053 square feet with 2 bedrooms and 1 1/2 baths. Units are currently leased month to month. Fantastic views of the Puget Sound and Olympic Mountains. Several units have been fully updated. Great Cap Rate with historically low (nearly zero) vacancy. Could be converted to individual condo units to sell. Vacant unit available to show with appointment only. Do not bother tenants!!!

Last Listed By

Stephen Janho

Windermere RE West Campus Inc License #26463 Listed on: 03/31/2016

Windermere RE West Campus Inc

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 912422

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $9,542

Year Built

  • Built in 1978

Lot Details

  • 0.34 Acre Lot
  • Property is in very good condition

Property Views

  • Views of a Sound
  • Mountain
  • Territorial

Home Design

  • Block Foundation
  • Composition Roof
  • Wood Composite

Interior Spaces

  • 6,702 Sq Ft Home
  • 3-Story Property

Flooring

  • Wood
  • Wall to Wall Carpet
  • Laminate
  • Ceramic Tile
  • Vinyl

Parking

  • 12 Parking Spaces
  • Open Parking

Outdoor Features

  • Deck

Community Details

  • Federal Way Subdivision

Listing and Financial Details

  • Assessor Parcel Number 787620

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$9,542

Year Built

Built in 1978

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 55 - 5-9 Units
  • Year Built: 1978
  • Buyer Agency Compensation: 2.5
  • MLS Status: Sold
  • Prev Status: Closed
  • New Construction: No
  • CalculatedSquareFootage: 6702
  • EffectiveYearBuiltSource: Public Records
  • Special Features: VirtualTour
  • Cumulative Days on Market: 260

Interior Features

  • Possible Use: Multi-Family
  • Fireplace: No
  • Flooring: Ceramic Tile, Hardwood, Laminate, Vinyl, Carpet
  • Interior Amenities: Ceramic Tile, Hardwood, Wall to Wall Carpet, Laminate Hardwood
  • Stories: 3
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0

Exterior Features

  • Roof: Composition
  • View: Mountain(s), Sound, Territorial
  • Lot Features: Curbs
  • View: Yes
  • Waterfront: No
  • Exterior Features: Cement/Concrete, Wood Products
  • Foundation Details: Block
  • Property Condition: Very Good
  • Structure Type: Multi Family

Garage/Parking

  • Carport Spaces: 6
  • Carport Y N: No
  • Open Parking Spaces: 6
  • Open Parking: Yes
  • Total Parking Spaces: 12
  • ParkingUncoveredSpaces: 6

Utilities

  • Sewer: Sewer Connected
  • Water Source: Public
  • Heating Yn: Yes
  • Utilities: Sewer Connected, Electric
  • WaterSewerGarbage: 1320

Fee Information

  • Annual Fuel Expense: 1212

Schools

  • Junior High Dist: Federal Way
  • High School: Buyer To Verify
  • Middle Or Junior School: Buyer To Verify

Lot Info

  • Parcel Number: 787620
  • Lot Size Acres: 0.34
  • Lot Size Sq Ft: 14810
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • SiteFeatures: Deck
  • MLSLotSizeSource: Public Record
  • ZoningClass: Multi-Family

Green Features

  • Power Production Type: Electric

Rental Info

  • Furnished: Unfurnished
  • GrossRentMultiplier: 14
  • LeasedItems: None
  • TotalMonthlyIncome: 5090

Multi Family

  • Gross Scheduled Income: 65538
  • Net Operating Income: 47563
  • Number Of Units Total: 6
  • Electric Expense: 2412
  • Insurance Expense: 3489
  • Leasable Area: 6702
  • UnitsInBuildingTotal: 6
  • UnitsBelowGrade: false
  • VacancyRate: 3

Tax Info

  • Year: 2015
  • Tax Annual Amount: 9542

MLS Schools

  • Elementary School: Buyer To Verify

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 31, 2016
Closed on
Jun 3, 2016
Sold by
Soundview South Llc
Bought by
Merente Llc
Seller's Agent
Stephen Janho
Windermere RE West Campus Inc
Buyer's Agent
Michelle Eggert
Skyline Properties, Inc.
List Price
$949,500
Sold Price
$962,000
Premium/Discount to List
$12,500
1.32%
Total Days on Market
6
Current Estimated Value
$1,575,426

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$613,426
Avg. Annual Appreciation
4.27%
Original Mortgage
$744,000
Outstanding Balance
$604,912
Interest Rate
3.66%
Estimated Equity
$796,266

Purchase Details

Closed on
Dec 13, 2013
Sold by
Parker Randy L
Bought by
Soundview South Llc

Purchase Details

Closed on
Nov 18, 2011
Sold by
Parker Randy L
Bought by
Parker Randy L and Jones Family Trust

Purchase Details

Closed on
Dec 2, 2004
Sold by
Jones Warren E and Jones Mary Ann
Bought by
Parker Randy L and Jones Living Trust

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Merente Llc $962,000 First American
Soundview South Llc -- None Available
Parker Randy L -- None Available
Parker Randy L -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Merente Llc $744,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/20/2016 05/20/16 Sold $962,000 +1.3% $144 / Sq Ft
04/07/2016 04/07/16 Pending -- -- --
03/31/2016 03/31/16 For Sale $949,500 -- $142 / Sq Ft
Source: Northwest Multiple Listing Service (NWMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $14,383 $1,330,000 $234,500 $1,095,500
2023 $13,994 $1,496,000 $161,200 $1,334,800
2022 $13,445 $1,404,000 $146,500 $1,257,500
2021 $12,761 $1,172,000 $131,900 $1,040,100
2020 $11,424 $1,045,000 $131,900 $913,100
2018 $9,522 $765,000 $117,200 $647,800
2017 $9,297 $655,000 $117,200 $537,800
2016 $10,240 $640,000 $109,900 $530,100
2015 $9,539 $678,000 $102,600 $575,400
2014 -- $646,000 $106,200 $539,800
2013 -- $605,000 $106,200 $498,800
Source: Public Records

Agents Affiliated with this Home

  • Stephen Janho

    Seller's Agent in 2016

    Stephen Janho

    Windermere Real Estate / West Campus, Inc.

    (253) 973-1003

    154 Total Sales

    Stephen Janho
    Section Image

  • M

    Buyer's Agent in 2016

    Michelle Eggert

    Skyline Properties, Inc.

    (425) 246-4197

    4 Total Sales

    Michelle Eggert
    Section Image
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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 912422

Northwest Multiple Listing Service (NWMLS)

APN: 787620-0005

Washington King County Federal Way 98003 Redondo-Federal Way

28422 16th Ave S, Federal Way, WA

Homes for Sale in Federal Way, WA

This home is located at 28422 16th Ave S, Federal Way, WA 98003 since 31 March 2016 and is currently estimated at $1,575,426, approximately $235 per square foot. This property was built in 1978. 28422 16th Ave S is a home located in King County with nearby schools including Woodmont Elementary School, Sacajawea Middle School, and Federal Way High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Northwest Multiple Listing Service (NWMLS) Listing information is provided by the Northwest Multiple Listing Service (NWMLS). Property information is based on available data that may include MLS information, county records, and other sources. Listings marked with the 3 tree icon and provided by NWMLS. All properties are subject to prior sale or withdrawal. ©2025 NWMLS.

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