Active · Residential Income

34120 1st Place S, Federal Way, WA 98003

Federal Way, WA 98003

$899,000

— bedrooms · — bathrooms · 0 sq ft

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Listing provided by Real Broker LLC · MLS #2491971 · Active

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About this property

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.

Property details

Property type: Multi Family
Year built: 1977
Lot size: 9,927 sq ft
Association dues: $375 · Monthly
Annual property tax: $8,984 (2025)
Parking spaces: 6
School district: Federal Way

Listings courtesy of Northwest MLS as distributed by MLS GRID.

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