Redondo Terrace offers investors a 78-unit garden-style community strategically located in Federal Way, WA. Built in 1986, the property spans 133,294 SF of land with a residential net rentable square footage of 57,492 SF. Units average 737 SF, featuring a mix of one- and two-bedroom layouts. The property benefits from strong in-place income, with clear potential for value-add enhancements through interior and amenity upgrades. Situated on Pacific Highway S, residents enjoy direct access to I-5, proximity to the Redondo Boardwalk, and convenient connections to key regional employers and lifestyle amenities. Nearby attractions include The Commons at Federal Way and the Federal Way Transit Center, reinforcing demand for rental housing in the submarket. With negligible new supply in the pipeline and high barriers to entry, Redondo Terrace presents an attractive opportunity for investors seeking long-term stability and rent growth upside in the Seattle-Tacoma corridor.