31805 3rd Pl SW, Federal Way, WA 98023
Multifamily · Federal Way · Seattle-Bellevue metro, WA
One of 255 reachable multifamily buildings in Federal Way. Larger than 21% of multifamily buildings in Federal Way (median 3,968 SF), derived from assessor records.
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- Building size
- 3,600 SF, King County Assessor
- Lot size
- 11,892 SF, King County Assessor
- Year built
- 1986, King County Assessor
- Stories
- 2, King County Assessor
- Predominant use
- The Shores Apartments Homes, King County Assessor
- Units
- 4, King County Assessor
- Assessed value
- $821,200, per the King County Assessor (not a market appraisal)
- Assessed value per building SF
- $228.11/SF, derived from assessor records
- Lot coverage
- 30%, derived from assessor records
- Vintage
- 1980s vintage
- Zoning
- RM3600, King County
- County use code
- 4-Plex
Nearby comparable buildings
Same building type, by distance. Assessor facts only; not an opinion of value.
- 31815 3rd Pl SW, Federal Way · 0 mi · 3,600 SF · built 1986 · assessed $228.11/SF
- 31821 3rd Pl SW, Federal Way · 0.1 mi · 3,600 SF · built 1986 · assessed $228.11/SF
- 31825 3rd Pl SW, Federal Way · 0.1 mi · 3,600 SF · built 1986 · assessed $228.11/SF
- 31829 3rd Pl SW, Federal Way · 0.1 mi · 3,600 SF · built 1986 · assessed $228.11/SF
- 31806 3rd Pl SW, Federal Way · 0.1 mi · 3,600 SF · built 1986 · assessed $228.11/SF
- 31810 3rd Pl SW, Federal Way · 0.1 mi · 3,600 SF · built 1986 · assessed $228.11/SF
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Sale history and market context
MakeMe Estimate: $901,997 (estimated market value), with a likely range of $800,692 to $1,028,928 (half of recent verified sales in this segment landed inside that range). Based on 667 verified arm's-length comparable sales (through 2026-05-29). Not an appraisal. How this estimate works. About $225K per unit at the midpoint (4 units).
Current ownership dates to 2026 per recorded transfers.
- 2026-02-25: $77,832,500 from Shores at Federal Way LLC to BMF V Wa Ridge & Shores LLC (part of a 20-parcel sale; price is the whole deal), rec. 20260225000380
- 2007-06-21: $19,471,500 from Vif/CPP Mirror Woods LLC to Shores at Federal Way LLC the (part of a 19-parcel sale; price is the whole deal), rec. 20070621000952
- 2005-04-01: $11,155,000 from Mirror Colony Apartments LLC to Vif\cpp Mirror Woods LLC (part of a 19-parcel sale; price is the whole deal), rec. 20050405001160
- 2002-03-22: $8,881,000 from Agl Investments #3 LP to Mirror Colony Apartments LLC (part of a 19-parcel sale; price is the whole deal), rec. 20020322001622
- 1998-04-07: $8,675,000 from Gentra US LLC to A/FC Properties LTD (part of a 19-parcel sale; price is the whole deal), rec. 199804101485
Source: King County recorded sales extract; buyer and seller shown only when a company or organization. Individual names are withheld.
Land, site, and value history
Assessed value moved from $349,000 (2011) to $821,200 (2026), up 135% over 15 years, per county tax rolls. The 2026 roll splits $821,200 into $240,000 land and $581,200 improvements.
- Zoning: RM3600 (per King County)
- Lot: 11,892 sq ft
- Water: Water District (per King County)
- Sewer: Public (per King County)
- Access: Public
- Street surface: Paved
- Floor and use mix: Multiple Residence (Low Rise) 3,600 SF (county building sections)
- County districts report (schools, fire, sewer, council; on kingcounty.gov)