Pending362d on market
34249 21st Avenue SW
Federal Way, WA, 98023 • Twin Lakes • King County
$2,850,000
5.3 acLot
Property DNA
Territorial Views
Territorial
Res-Over 1 Acre Style
Res-Over 1 Acre architecture
Federal Way
Twin Lakes
Market activity
Demand and pricing signals for this listing
15 views
People checking out this listing
362 days on market
Established listing
About this home
Lot
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!
Estimated monthly payment
Based on current rates
$17,747/month
Principal & Interest$13,947
Property Tax$2,850
Insurance$950
Down payment20% ($570,000)
3%50%
Est. 6.19% rate · 30yr fixed · $2,280,000 loan
Full calculator →At a glance
Key facts and listing details
Property
Home typeLot
Sub-typeUnimproved Land
StyleRes-Over 1 Acre
Systems
Water / SewerAvailable, In Street, Jurisdiction: Lakehaven / Available, In Street
Parking & Outdoor
Lot5.29 Acres
Location & Tax
NeighborhoodTwin Lakes
ZoningRS 7.2
Annual tax$1,840
Parcel242103900501
Features & details
4 categories of property features
Exterior Features
Lot Features
Corner Lot
Curbs
Paved
Sidewalk
Brush
Evergreens
Lightly Treed
Partially Cleared
Views
Territorial
Utilities
Electricity Available
Natural Gas Available
Gas
Available
Listing insights
Market data and value estimates
StatusPending
Days on market362
Est. rent$2,050/mo
Tax rate0.82%
On marketMay 11, 2025
PostedApr 10, 2025
MLS statusPending Feasibility
MLS updatedJul 31, 2025
Tour days6
Views15
How are the schools in Federal Way?
3 schools rated nearby
Location
Federal Way, WA, 98023
Price history
4 events
DateEventPrice$/sqftSource
Jul 31, 2025Pending Sale$2,850,000—NWMLS as distributed by MLS GRID
Jul 16, 2025Listed For Sale$2,850,000—NWMLS as distributed by MLS GRID
Jun 13, 2025Pending Sale$2,850,000—NWMLS as distributed by MLS GRID
Apr 10, 2025Listed For Sale$2,850,000—NWMLS as distributed by MLS GRID
Pending Sale$2,850,000
Jul 31, 2025•NWMLS as distributed by MLS GRID
Listed For Sale$2,850,000
Jul 16, 2025•NWMLS as distributed by MLS GRID
Pending Sale$2,850,000
Jun 13, 2025•NWMLS as distributed by MLS GRID
Listed For Sale$2,850,000
Apr 10, 2025•NWMLS as distributed by MLS GRID
Tax history
5 years of records
YearTax paidAssessed value
Apr 7, 2017$1,089$70,500
Apr 7, 2016$969$64,200
Apr 7, 2015—$175,800
Apr 7, 2014$969$61,200
Apr 7, 2013$969$38,100
Nearby homes
Neighborhood details
Local context around this listing
Federal Way, WA • King County
Nearby neighborhoods
AdelaideAlderbrookCampus HighlandsLaurelwoodMadronaMirror LakeRedondoSteel LakeTwin LakesWest Campus
Nearby cities
AuburnBellevueBothellFederal WayKentKirklandRedmondRenton
Nearby zip codes
98003980239806398093
Similar homes
Based on information submitted to the MLS GRID as of 2026-04-07 13:48:49 PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. [Click here for more information](/mls-disclaimers/#39)
No obligation · Same-day response