- 0
- 2
- Overview
- Description
- Property Details
- Location
- HOA Management
- Facts & Features
- Getting Around
- Nearby Homes
Price Drop: $26K (09/14)
Street View
Listed by: Lindsay Jackman (253) 266-1067 | Real Broker LLC (855) 450-0442
$899,000
Monthly Est:$4,475
8 Beds
4 Baths
3,600sqft
34120 1st Place S, Federal Way, WA 98003
$899,000
$4,475/moEst:
Get Pre-Approved
Multi Family
Built in 1977
$375/mo HOA
9,927 sqft lot
$250/sq.ft
Description
Great investment opportunity in Federal Way. Well-maintained four-plex featuring four spacious 2-bedroom, 1-bath units, each offering 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.
- Houzeo last checked: 12 hours ago
- Listing updated: September 17, 2026 at 6:42 pm
- Source: Northwest Multiple Listing Service | MLS#: NWM2491971
Property Details
Status
Active
Type
Multi Family
No. of Stories
2
County
City
Neighborhood
--
Year Built
1977
HOA Fees
$375/mo
Finished Area
3,600 sqft
Lot Size
9,927 sqft lot
Basement Area
- sqft
MLS Name
Northwest Multiple Listing Service
MLS Number
NWM2491971
MLS Status
Active
Days on Market
202
Cumulative Days on Market
202
Continue Your Journey in App
Find your dream home, receive real-time updates, and many more!
Download App
Continue Your Journey in App
Find your dream home, receive real-time updates, and many more!
Location
HOA Management
N/A
HOA Fees
$375/ Monthly
Disclaimer: Amenities are based on third-party information and may vary; buyers must independently verify all amenities, as information is deemed reliable but not guaranteed.
Facts & Features
Rooms
Bedrooms & bathrooms
Bedrooms: 8
Bathrooms: 4
Interior
Flooring
Vinyl, Carpet
Exterior Features
Wood, Wood Products
Sewer
Sewer Connected
Heating
Baseboard
Cooling
None
Construction
Year Built
Year Built: 1977
Home type
Multi Family
Roof
Tile
Property Condition
Good
Foundation Details
Poured Concrete
Construction Materials
Wood
Utilities & Energy
Water Source
Public
Other Features
Lot Features
Cul De Sac, Dead End Street
Subdivision Name
Panther Lake
Price History
| Date | Event | Price |
|---|---|---|
09/14/2026 Source: | Listing Removed | $899,000 $250/sqft |
09/14/2026 Source: | Listed for Sale | $899,000 -2.81% $250/sqft |
03/13/2026 Source: | Price Decreased | $925,000 -6.47% $257/sqft |
03/13/2026 Source: | Price Change | $989,000 $275/sqft |
Nearby Homes
Find Homes by Property Features in Federal Way, WA
Based on information submitted to the MLS GRID by Northwest Multiple Listing Service as of Oct 01, 2026, 02:47PM. 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.
IDX information is provided exclusively for consumers’ personal, noncommercial use; it may not be used for any purpose other than to identify prospective properties that consumers may be interested in purchasing, that the data is deemed reliable, but is not guaranteed by MLS GRID, and that the use of the MLS GRID Data may be subject to an end-user license agreement prescribed by the Member Participant’s applicable MLS, if any and as amended from time to time. © 2025 Northwest Multiple Listing Service. All Rights Reserved.
Advertising Broker: Christy Lee-Naumann (267) 341-8337 | Houzeo Brokerage LLC