34214 1st Place S · Federal Way, WA 98003
Source: NWMLS · RSVP Brokers ERA · Martha Zahuita #NWM2500500
About this home
Well-maintained fourplex in Federal Way. Each unit features 2 bedrooms, 1 bathroom, a functional floor plan, fireplace, private balcony or patio, and in-unit washer and dryer, providing comfort and convenience for tenants.Property includes dedicated covered parking for each unit, additional uncovered parking spaces, and guest parking. Two units have been recently renovated, offering updated interiors and potential for increased rental income.The property has a strong rental history with long-term tenants, supporting stable and consistent income. On-site professional management is in place, and HOA rules do not allow for self-management.Conveniently located near shopping, dining, schools, and parks, with easy access to I-5 and Hwy 18, making it a desirable location for tenants and commuters alike. Ideal for investors seeking stable cash flow, low deferred maintenance, and long-term appreciation.
Location
Basics
- Property type
- Multi Family
- Style
- 4-Plex
- Stories
- 2 stories
- Condition
- Good
- Year built
- 1977
- Building area
- 3,056 sq ft
- Lot size
- 10,276 sq ft (0.24 acres)
- County
- King
- MLS #
- NWM2500500
Interior
- Heating
- Baseboard
- Cooling
- None
- Flooring
- Laminate, Vinyl, Vinyl Plank, Carpet
Exterior & lot
- Exterior features
- Wood Products
- Roof
- Composition
- Foundation
- Poured Concrete
- Lot features
- Cul-De-Sac, Curbs, Open Space, Paved, Sidewalk
- View
- Territorial
- Waterfront
- No
- Pool
- Community
Parking
- Parking spaces
- 8
- Covered spaces
- 4
Utilities
- Water
- Public
- Sewer
- Sewer Connected
- Power
- Electric
Community & fees
- Subdivision
- Panther Lake
- HOA dues
- $375/mo
- Property tax
- $8,626 (2025)
Transaction
- Original list price
- $1,030,000 (12.6% price cut)
- Listed on
- Apr 2, 2026
- Days on market
- 170
- Listing terms
- Cash, Conventional, FHA, VA Loan
- Possession
- Negotiable, See Remarks, Subject To Tenant Rights
More homes nearby
Sale history
Earlier listings of this home on the MLS.
- 2024-07-01
- Sold$909,500
- 2006-12-19
- Sold$412,250
Schools
School district: Federal Way
- Elementary
- Panther Lake Elem
- Middle
- Illahee Jnr High
- High
- Todd Beamer High SchoolSchoolDigger 1 star · Top 87% in WA
Listing provided courtesy of: RSVP Brokers ERA
Listing agent: Martha Zahuita.
Based on information submitted to the MLS GRID as of —. 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 provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.
Data last updated 2026-09-17.