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Listed by:Real Broker LLC • Lindsay Jackman

$989,000

Est. payment - /mo

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8 Beds

4 Baths

3,600 SqFt

Active

34120 1st PL S Federal Way, WA 98003

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Ryan Born

ryan@born-realty.com +1(206) 498-0342

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 3,600 sqft

Price per Sqft $274

Subdivision Panther Lake

MLS Listing ID 2491971

Style 54 - 4-Plex

Bedrooms 8

HOA Fees $375/mo

Year Built 1977

Annual Tax Amount $8,984

Lot Size 9,927 Sqft

Property Sub-Type Multi Family

Property Description

Great investment opportunity in Federal Way. Well-maintained four-plex featuring four spacious 2-bedroom, 1-bath units, each offering approximately 1,000 square feet of comfortable living space. Functional layouts, generous unit sizes, and consistent rental demand support strong long-term performance. Property currently offers a cap rate of over 6%, making it an attractive addition to an investment portfolio. Significant capital improvement completed with a new tile roof installed in 2022, providing durability and reducing future maintenance concerns. Conveniently located near major commuting routes, shopping, dining, and everyday amenities. Large unit sizes, solid income potential, and key updates make this a compelling multi-family investment opportunity in a strong rental market. Excellent opportunity for investors seeking stable cash flow and long-term value.

Location

State WA

County King

Area 110 - Dash Point/Federal Way

Interior

Flooring Vinyl, Carpet

Fireplace false

Exterior

Exterior Feature Wood, Wood Products

Amenities Available Cable TV, Deck, Patio

View Y/N Yes

View Territorial

Roof Type Tile

Building

Lot Description Cul-De-Sac, Dead End Street

Sewer Sewer Connected

Water Public

New Construction No

Schools

Elementary Schools Panther Lake Elem

Middle Schools Illahee Jnr High

High Schools Todd Beamer High

School District Federal Way

Others

Senior Community No

Acceptable Financing Cash, Conventional, FHA, VA Loan

Listing Terms Cash, Conventional, FHA, VA Loan

"Three Trees" icon indicates a listing provided courtesy of NWMLS.

Mortgage Calculator

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Breakdown

Mortgage values are calculated by Lofty and are for illustration purposes only, accuracy is not guaranteed.

Amenities & Attractions

Restaurants

Home Services

Health & Medical

Local Services

Shopping

Recreation

Food

Beauty

Nightlife

Event Planning & Services

Automotive

Religious Organizations

Financial Services

Professional Services

Travel

Local Media

Education

Pets

Public Services & Government

New Peking Wok

32921 1st Ave S, Federal Way, WA 98003

Chinese Phone: 253-838-2688
Mi Chalateca

33427 Pacific Hwy S, Federal Way, WA 98003

Salvadoran Phone: 253-838-1688
Poverty Bay Cafe & Coffee Co

1108 S 322nd Pl, Federal Way, WA 98003

Diners Phone: 253-945-0012
Subway

32225 Pacific Hwy S, Federal Way, WA 98003

Fast Food Phone: 253-941-1625
Jasper’s Coffee Company & Deli

33501 1st Way S, Federal Way, WA 98003

Coffee & Tea
Best Sushi

32911 1st Ave S, Federal Way, WA 98003

Sushi Bars Phone: 253-838-1476
Peking Palace

32002 11th Ave SW, Federal Way, WA 98023

Chinese Phone: 206-364-7890
Hae Song

32703 Pacific Hwy S, Federal Way, WA 98003

Korean Phone: 253-878-5103
K City

32703 Pacific Hwy S, Federal Way, WA 98003

Bars Phone: 253-838-0133
Pizza Pizazz

32925 1st Ave S, Federal Way, WA 98003

Pizza Phone: 253-661-1101
Billy McHales

1320 S 324th St, Federal Way, WA 98003

American (Traditional) Phone: 253-839-4200
Peking Wok

32921 1st Ave S, Federal Way, WA 98003

Chinese Phone: 253-838-2688
Mika Japanese Buffet

1426 S 324th St, Federal Way, WA 98003

Sushi Bars Phone: 253-839-9988

Educational Environment

Elementary Schools (1)High Schools (2)

Name

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