34120 1st Place S, Federal Way, WA 98003 (MLS # 2491971)

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Listing provided courtesy of Northwest MLS; Real Broker LLC

PRICE $989,000
BEDS 0
BATHS 0
HOME SIZE 3,600 sqft
LOT SIZE 9,928 sqft
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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.

LAST UPDATED 3/31/2026 TRACT Panther Lake
YEAR BUILT 1977 COMMUNITY Panther Lake
COUNTY King STATUS Active
PROPERTY TYPE(S) Multi Family

SCHOOLS
Elementary School Panther Lake Elem
Jr. High School Illahee Jnr High
High School Todd Beamer High

PRICE HISTORY
Prior to Mar 31, '26 $1,000,000
Mar 31, '26 - Today $989,000


ADDITIONAL DETAILS
AIR None
AREA 110 - Dash Point/Federal Way
CONSTRUCTION Wood Siding
HEAT Baseboard, Electric
HOA DUES 375
LOT 9927 sq ft
LOT DESCRIPTION Cul-de-sac, Dead End Street
MLS STATUS Active
STORIES 2
STYLE 54 - 4-Plex
SUBDIVISION Panther Lake
TAXES 8984
UTILITIES Cable Available, Sewer Connected
VIEW Yes
VIEW DESCRIPTION Territorial
WATER Public

SATELLITE VIEW



 
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Properties with the Logo icon are courtesy of Northwest MLS.

Listings courtesy of Northwest MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of 4/4/26 8:21 PM PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. 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.

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