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.
Property Details
Price:
$1,199,950
MLS #:
NWM2569988
Status:
Active
Beds:
2
Baths:
2
Type:
Single Family
Subtype:
Single Family Residence
Subdivision:
North Lake
Neighborhood:
100jovitawesthill
Listed Date:
Aug 18, 2026
Finished Sq Ft:
1,160
Total Sq Ft:
1,160
Lot Size:
31,919 sqft / 0.73 acres (approx)
Year Built:
1942
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, Dryer, Microwave, Refrigerator, Stove(s)/Range(s), Washer
Bathrooms
1 Full Bathroom, 1 Three Quarter Bathroom
Cooling
None
Fireplaces Total
1
Flooring
Ceramic Tile, Laminate
Heating
Forced Air
Interior Features
Bath Off Primary, Ceiling Fan(s), Dbl Pane/Storm Window, Dining Room, Fireplace, French Doors, Skylight(s), Vaulted Ceiling(s), Water Heater
Levels
One
Main Level Bathrooms
2
Main Level Bedrooms
2
Exterior
Attached Garage YN
1
Construction Materials
Cement Plank
Covered Spaces
2
Exterior Features
Cement Planked
Lot Features
Paved
Parking Features
Driveway, Attached Garage, RV Parking
Parking Spots
2
Parking Total
2
Roof
Composition
Security Features
Partially Fenced
View
Lake, Territorial
Waterfront Features
Lake, No Bank
Financial
Tax Year
2026
Taxes
$5,919
Map
Community
- Address3118 S 337th Street Federal Way WA
- SubdivisionNorth Lake
- CityFederal Way
- CountyKing
- Zip Code98001
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 Sep 12, 2026
258
Single Family Listed
64
Avg DOM
352
Avg $ / SqFt
$788,604
Avg List Price
Property Summary
- Located in the North Lake subdivision, 3118 S 337th Street Federal Way WA is a Single Family for sale in Federal Way, WA, 98001. It is listed for $1,199,950 and features 2 beds, 2 baths, and has approximately 1,160 square feet of living space, and was originally constructed in 1942. The current price per square foot is $1,034. The average price per square foot for Single Family listings in Federal Way is $352. The average listing price for Single Family in Federal Way is $788,604. To schedule a showing of MLS#nwm2569988 at 3118 S 337th Street in Federal Way, WA, contact your Best in the West agent at 206-351-5550.
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© 2026 Northwest Multiple Listing Service as distributed by MLS GRID.
represents listings courtesy of NWMLS. Listed by Keller Williams Realty PS.
Disclaimer: Based on information submitted to the MLS GRID as of Sep-12-2026 7:27:45 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.
represents listings courtesy of NWMLS. Listed by Keller Williams Realty PS.Disclaimer: Based on information submitted to the MLS GRID as of Sep-12-2026 7:27:45 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.
3118 S 337th Street
Federal Way, WA


