3118 S 337th Street

Federal Way, WA
$ 1,199,950 Beds 2 Baths 2 Sq 1,160
Monthly Estimate* How much can I afford?

Exceptional North Lake waterfront opportunity! This unique offering includes three waterfront parcels totaling 31,319 SF, all sold together. The fully remodeled 2-bedroom, 1.75-bath home sits on one parcel with 60 feet of coveted lake frontage, while the two additional parcels provide approximately 45 feet of combined frontage and potential for future development, subject to buyer verification and applicable requirements. Enjoy waterfront living with serene lake views, fishing, boating, spectacular sunsets, and your own private dock. This desirable rambler features vaulted ceilings, a bright sunroom, private jacuzzi, custom-tiled bathrooms, durable laminate flooring, custom cabinetry, and new quartz countertops. The oversized heated two-car garage provides abundant space for vehicles, storage, lake toys, or a workshop. Previously operated as a successful Airbnb, the property offers exceptional flexibility as a primary residence, vacation home, or investment opportunity. Public sewer is located adjacent to all three parcels, offering potential flexibility for future development. Buyer to verify sewer availability, connection requirements, and development feasibility to their satisfaction. The existing home is currently served by septic. A rare opportunity to live, recreate, develop, or invest in a premier waterfront setting.

Active

  • Price
  • $ 1,199,950
  • City
  • Federal Way
  • Bedrooms
  • 2
  • Full Bathrooms
  • 2
  • County
  • KING
  • Half Bathrooms
  • 0
  • Area
  • Jovita-West Hill
  • Lot Size
  • 0.7328 Acres
  • Zip
  • 98001
  • Sqr Footage
  • 1,160
  • Year Built
  • 1942
  • Taxes
  • $ 5919
  • Style
  • 1 Story
  • MLS#
  • 2569988
Listed By: Keller Williams Realty PS and NWMLS
Data Source: Northwest Multiple Listing Service (NWMLS)

Features

General

Living Area 1160
Sewer Available,Septic Tank
Heating Forced Air
Cooling None
Possession Closing
Roof Composition
Appliances Dishwasher,Dryer,Microwave,Refrigerator,Stove(s)/Range(s),Washer
Security Features Partially Fenced
Year Built 1942
View Lake,Territorial
Topography Level
Levels One
Property Subtype Single Family Residence
Tax Year 2026
Waterfront Features Lake,No Bank
Building Name Louises North Lake Trs
County King
New Construction No
Property Type Residential
HOA No
Attached Garage Yes
Subdivision Name North Lake
Garage Y/N Yes
Full Baths 1
Special Listing Conditions None
Status Active
Directions Use Phone GPS
High School Buyer To Verify
City Federal Way
Entry Location Main
Senior Community Y/N No
High School District Federal Way
MLS Area 100 - Jovita/West Hill
Lot Size Units Square Feet
Lot Size Square Feet 31919
Carport Y/N No
Listing Terms Cash,Conventional,FHA,VA Loan
Elementary School Buyer To Verify
Land Lease Y/N No
Tax Annual Amount 5919
Middle/Junior High School Buyer To Verify
Public Remarks Exceptional North Lake waterfront opportunity! This unique offering includes three waterfront parcels totaling 31,319 SF,all sold together. The fully remodeled 2-bedroom,1.75-bath home sits on one pa
Structure Type House
Building Area Units Square Feet
Standard Status Active
Water Company Lakehaven
Property Style 10 - 1 Story
NWM_ShowMapLink Yes

Interior Features

Interior Amenities Bath Off Primary,Ceiling Fan(s),Dbl Pane/Storm Window,Dining Room,Fireplace,French Doors,Skylight(s),Vaulted Ceiling(s),Water Heater
Basement None
Flooring Ceramic Tile,Laminate
Total Fireplaces 1
Fireplace Features Electric
Air Conditioning Y/N No
Heating Y/N Yes
Fireplace Y/N Yes
3/4 Baths 1
Total Bedrooms 2
Main Level Bedrooms 2
Total Baths 2
Water Heater Type Electric
Fireplaces Main 1
Power Production Type Electric,Natural Gas
Baths Three Quarter Main 1
Baths Full Main 1
Bathrooms 1.75

Exterior Features

Exterior Amenities Cement Planked
Vegetation Fruit Trees,Garden Space
Parking Features Driveway,Attached Garage,RV Parking
Lot Features Paved
Water Source Public
Total Parking 2
Inclusions Dishwasher(s),Dryer(s),Microwave(s),Refrigerator(s),Stove(s)/Range(s),Washer(s)
Foundation Details Poured Concrete
Spa Yes
Building Area Total 1160
Lot Size Acres 0.7328
Waterfront Y/N Yes
Covered Spaces 2
Irrigation Water Rights Y/N No
Waterfront Footage 105
Site Features Cable TV,Dock,Fenced-Partially,Gas Available,Hot Tub/Spa,RV Parking
Lot Number 1-10-11

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Affordability Calculator

$3,786

Per Month

Based on the average sale price from the Maple Falls, WA office

  • Monthly Principal & interest $2,658
  • Monthly Property Taxes $1,062
  • Monthly Home Insurance $67
Adjust Payment Options
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Default based on a 30-year fixed rate of 6.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA, or jumbo loans.

Mortgage calculator provided courtesy of Inside Real Estate.

Schools

Elementary School Buyer To Verify Elementary School
Middle School Buyer To Verify Middle School
High School Buyer To Verify High School

Price History

8/18/2026 Listed $1,199,950

Property vs Zip Code Average in 98001

Price
AVG $740K
$1.2M
Taxes
AVG $6,969
$5,919
Year Built
AVG 1988
1942
Visits
AVG 222
31
Data Provided by Inside Real Estate®

In The Neighborhood

Areas That We Cover

3118 S 337th Street Federal Way, WA is a Single Family Home for sale at $1199950 with 1160 sqft and a lot size of 0.7328 Acres Acre(s). 3118 S 337th Street Federal Way has 2 bedrooms, 2 baths and was built in 1942. The property's zip code is 98001 which is in Federal Way, WA

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Mortgage calculator provided courtesy of Inside Real Estate.

All information deemed reliable, but not guaranteed, and should be independently verified. The real estate information and related content displayed on this site is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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