Seize the potential of 5.29 acres in Federal Way, zoned RS 7.2 for various permitted uses! From single-family homes (~28 lots est) to community/rec center/clubhouse, church/place of worship, school, daycare, special needs housing, public utilities/transit center, cemetery or cottage food operation. Existing features include a community garden setup, outbuildings, & a 570-sf small home structure. Sewer, city water, and all other utilities in street for development. Fully improved streets on E, S, & N sides. A driveway is already in place, ready to support your development vision. Park & ride adjacent, grocery shopping, business services close by. Easy access to I-5. Sold AS IS—don’t miss this opportunity to bring your dream project to life!
Pending feasibility
Listed by:
David R Knight,
KW Mountains to Sound Realty
$2,850,000
34249 21st Avenue SW, Federal Way, WA 98023
--beds
--baths
5.29Acres
Est.:
Unimproved Land
Built in ----
5.29 Acres Lot
$-- Zestimate®
$--/sqft
$-- HOA
What's special
Community garden setup
- 246 days |
- 21 |
- 0 |
Zillow last checked: 8 hours ago
Listing updated: July 31, 2025 at 04:35pm
Listed by:
David R Knight,
KW Mountains to Sound Realty
Source: NWMLS,MLS#: 2352205
Facts & features
Interior
Features
- Has fireplace: No
Interior area
- Total structure area: 0
Property
Features
- Has view: Yes
- View description: Territorial
Lot
- Size: 5.29 Acres
- Features: Corner Lot, Curbs, Paved, Sidewalk, Brush, Evergreens, Lightly Treed, Partially Cleared
- Topography: Level,Rolling
Details
- Parcel number: 2421039005
- Zoning: RS 7.2
- Zoning description: Residential,See Remarks,Jurisdiction: City
- Special conditions: See Remarks
Utilities & green energy
- Electric: Available
- Gas: Available
- Sewer: Available, In Street
- Water: Available, In Street, Jurisdiction: Lakehaven
- Utilities for property: Electricity Available, Natural Gas Available
Community & HOA
Community
- Subdivision: Federal Way
Location
- Region: Federal Way
Financial & listing details
- Tax assessed value: $70,500
- Annual tax amount: $1,840
- Date on market: 5/11/2025
- Cumulative days on market: 313 days
- Listing terms: Cash Out,Conventional
- Road surface type: Paved
Estimated market value
Not available
Estimated sales range
Not available
$2,050/mo
Price history
Price history
| Date | Event | Price |
|---|---|---|
| 7/31/2025 | Pending sale | $2,850,000 |
Source:  NWMLS #2352205 Report a problem | ||
| 7/16/2025 | Listed for sale | $2,850,000 |
Source: NWMLS #2352205 Report a problem | ||
| 6/13/2025 | Pending sale | $2,850,000 |
Source: NWMLS #2352205 Report a problem | ||
| 4/10/2025 | Listed for sale | $2,850,000 |
Source: NWMLS #2352205 Report a problem | ||
Public tax history
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2017 | $1,089 +12.4% | $70,500 +9.8% |
| 2016 | $969 | $64,200 -63.5% |
| 2015 | -- | $175,800 +187.3% |
Find assessor info on the county website
BuyAbility℠ payment
Est. payment
$17,142/mo
Principal & interest
$14197
Property taxes
$1947
Home insurance
$998
Climate risks
Neighborhood: Twin Lakes
Nearby schools
GreatSchools rating
- 2/10Olympic View Elementary SchoolGrades: PK-5Distance: 1.1 mi
- 3/10Technology Access Foundation Academy at SaghalieGrades: 6-12Distance: 0.5 mi
- 3/10Decatur High SchoolGrades: 9-12Distance: 1.6 mi
Schools provided by the listing agent
- Elementary: Sherwood Forest Elem
- Middle: Illahee Jnr High
- High: Todd Beamer High
Source: NWMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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