Active · Residential Income

34007 1st Circle S, Federal Way, WA 98003

Federal Way, WA 98003

$1,250,000

— bedrooms · — bathrooms · 0 sq ft

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Listing provided by Northmarq Multifamily, LLC · MLS #2590067 · Active

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About this property

Panther Lake Apartments is a 6-unit building built in 1979, located in Federal Way. All units are 1,000 SF with two bedrooms, one bathroom, in-unit washer & dryers, wood-burning fireplaces, private patios/balconies and covered parking. All new windows, sliders, exterior paint, and electrical panels in last two years. As part of a larger residential community, residents benefit from shared amenities including on-site management, a playground, and tennis courts. Located just 2 miles from the Light Rail station and 1.5 miles from I-5, the property offers convenient access to Tacoma, Seattle, and the broader Puget Sound region. Priced at $208K per unit with a cap rate of 6.7%.

Property details

Property type: Multi Family
Year built: 1979
Lot size: 17,999 sq ft
Association dues: $1,017 · Monthly
Annual property tax: $14,489 (2026)
Parking spaces: 12
School district: Federal Way

Listings courtesy of Northwest MLS as distributed by MLS GRID.

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