Property Details

Soundview II Apartments is a six-unit, condo-style multifamily asset nestled in Federal Way's Redondo neighborhood — a quiet, amenity-rich pocket of the city with direct access to Redondo Beach Park, Dash Point State Park, and I-5. The December 2025 opening of the Federal Way Link Extension places residents just minutes from Downtown Seattle and Seattle-Tacoma International Airport via light rail while preserving the affordability and quality of life that define Federal Way's appeal.With effective rents running $300–$500/month below Seattle's average, Federal Way continues to attract cost-conscious renters priced out of the urban core. With development moratoriums limiting new supply, demand has nowhere to go but into existing, well-located properties like Soundview II, making this an incredible opportunity for investors.The property has no deferred maintenance, with all units featuring fireplaces, private west-facing balconies with partial Puget Sound views, and in-unit washers and dryers. All that is missing is the finishing touches with a targeted value-add program, such as new countertops, cabinetry, and fixtures. This means incoming ownership can capture meaningful rent premiums in a submarket where income growth is accelerating, and renter demand remains structurally undersupplied.