Perched to capture sweeping, unobstructed panorama views of Puget Sound, this iconic Pacific Northwest retreat is ready for its next chapter. Offered in its original condition, this home is ideal for buyers seeking a chance to renovate, restore, or reimagine a view property into their dream residence. Solid bones, timeless character, and endless potential make this a standout investment opportunity. The expansive unfinished 1,280 sq ft basement adds exceptional flexibility and value, ideal for a workshop, studio, wine cellar, fitness space, storage, or future expansion. Existing plumbing for an additional bathroom opens the door to even more possibilities. Enjoy seamless indoor-outdoor living with a spacious view deck, perfect for entertaining, relaxing, or morning coffee, soak in the incredible scenery year-round. Conveniently located with easy access to light rail (5 miles), Seattle/Tacoma airport (15 miles), shopping, parks, and commuter routes, this home offers a rare combination of peaceful living and unbeatable accessibility.
Property Details
Price:
$1,025,000
MLS #:
NWM2515671
Status:
Active
Beds:
4
Baths:
2
Type:
Single Family
Subtype:
Single Family Residence
Subdivision:
Dash Point
Neighborhood:
110dashpointfederalway
Listed Date:
Apr 29, 2026
Finished Sq Ft:
2,020
Total Sq Ft:
3,300
Lot Size:
15,680 sqft / 0.36 acres (approx)
Year Built:
1972
See this Listing
Schools
School District:
Federal Way
Elementary School:
Buyer To Verify
Middle School:
Buyer To Verify
High School:
Buyer To Verify
Interior
Appliances
Dishwasher, Double Oven, Dryer, Refrigerator, Stove(s)/Range(s), Washer
Bathrooms
2 Full Bathrooms
Cooling
Forced Air
Fireplaces Total
2
Flooring
Hardwood, Stone, Vinyl, Carpet
Heating
Forced Air
Interior Features
Dbl Pane/Storm Window, Fireplace, Pantry, Vaulted Ceiling(s), Walk-In Closet(s), Water Heater
Levels
Two
Main Level Bathrooms
1
Main Level Bedrooms
3
Exterior
Construction Materials
Wood
Covered Spaces
3
Exterior Features
Wood
Lot Features
Paved, Sidewalk
Parking Features
Attached Carport
Parking Spots
3
Parking Total
3
Roof
Composition
View
Mountains, Ocean
Financial
Tax Year
2025
Taxes
$3,753
Map
Community
- Address5118 SW 311 Place Federal Way WA
- SubdivisionDash Point
- CityFederal Way
- CountyKing
- Zip Code98023
Subdivisions in Federal Way
- Adelaide
- Alderbrook
- Alderdale
- Buenna
- Campus Estates
- Campus Highlands
- Central Federal Way
- Dash Point
- Dumas Bay
- Enchanted Village
- Federal Way
- Jovita
- Killarney
- Lake Killarney
- Lakota
- Laurelwood
- Madrona
- Marine Hills
- Marine View Park
- Mirror Lake
- North Lake
- Northshore
- Panther Lake
- Redondo
- Regency Woods
- S Federal Way
- Star Lake
- Steel Lake
- Tacoma
- Twin Lakes
- Wedgewood
- West Campus
- West Hill
Market Summary
Current real estate data for Single Family in Federal Way as of Apr 30, 2026
176
Single Family Listed
51
Avg DOM
351
Avg $ / SqFt
$805,254
Avg List Price
Property Summary
- Located in the Dash Point subdivision, 5118 SW 311 Place Federal Way WA is a Single Family for sale in Federal Way, WA, 98023. It is listed for $1,025,000 and features 4 beds, 2 baths, and has approximately 2,020 square feet of living space, and was originally constructed in 1972. The current price per square foot is $507. The average price per square foot for Single Family listings in Federal Way is $351. The average listing price for Single Family in Federal Way is $805,254. To schedule a showing of MLS#nwm2515671 at 5118 SW 311 Place in Federal Way, WA, contact your Best in the West agent at 206-351-5550.
Similar Listings Nearby
Courtesy of John L. Scott, Inc.. Disclaimer: Based on information submitted to the MLS GRID as of Apr-30-2026 3:17:02 pm. 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.Copyright 2026. All rights reserved.
5118 SW 311 Place
Federal Way, WA


