2221 SW 306th Pl, Federal Way, WA 98023

Calling all visionaries, contractors, and value-add investors! This split-level home in a quiet, established Federal Way neighborhood is a rare opportunity to build serious equity through sweat and smart renovation. Originally built in 1976, this 3-bedroom home offers a classic split-level layout with distinct living spaces on each level — a floor plan that has stood the test of time and just needs your vision to shine again. Yes, this home needs love — plenty of it — but that's exactly where the opportunity lies. Priced to reflect its condition, this is your chance to secure a home in a desirable pocket of Federal Way at a fraction of market-ready pricing, then customize every finish to your own taste. This location works in your favor: tucked into an established residential street with mature landscaping and long-time neighbors, it's convenient to Highway 99 and I-5 for an easy commute, and just minutes from Dash Point State Park and Beach, French Lake Off-Leash Dog Park, and Alderdale Park. Everyday essentials are close by too, with Safeway, Fred Meyer, and QFC nearby, along with local favorites like Bigfoot Java and JP's Tavern. Federal Way's housing market has shown strong, consistent demand, making this a smart long-term hold or flip. The bones are here — the potential is yours to unlock. Whether you're an investor looking for your next project, a contractor ready to add value, or a buyer with a vision and some DIY grit, this split-level offers the space and structure.