31821 3rd Pl SW, Federal Way, WA 98023

Multifamily · Federal Way · Seattle-Bellevue metro, WA

Imagery suggests: garden apartments, appears multi-tenant. AI estimate from public imagery. In recent public imagery (2026-06), the building appears well maintained. AI estimate from public imagery; may be outdated.

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
10,186 SF, King County Assessor
Year built
1986, King County Assessor
Stories
2, King County Assessor
Predominant use
The Shores Apartment 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
35%, derived from assessor records
Vintage
1980s vintage
Zoning
RM3600, King County
County use code
4-Plex
Construction (observed)
wood frame, AI estimate from public imagery
Parking (observed)
surface lot, AI estimate from public imagery
Frontage (observed)
mid block, AI estimate from public imagery

Nearby comparable buildings

Same building type, by distance. Assessor facts only; not an opinion of value.

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Sale history and market context

MakeMe Estimate: $897,353 (estimated market value), with a likely range of $796,569 to $1,023,630 (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 $224K per unit at the midpoint (4 units).

Current ownership dates to 2026 per recorded transfers.

Source: King County recorded sales extract; buyer and seller shown only when a company or organization. Individual names are withheld.

Value over time

$285K$570K$855K$1.14M201120142017202020232026County appraised valueEstimated value (modeled range)

Solid line: county appraised value per King County tax rolls. Shaded range: our modeled estimate for each year, built from recorded arm's-length sales in the building's segment; years without enough sales stay unmodeled. Dots: recorded arm's-length sales. Not an appraisal. How this estimate works.

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.

Taxes