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Listing provided courtesy of Skyline Properties, Inc.NWMLSas Distributed by MLSGrid- MLS# NWM2535696MLS Provider

34025 1st Place SFederal Way, WA 98003

Multi-Family · 4 Beds · 0.24 Acres
$825,000 Active

34025 1st Place S Overview

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Complete exterior paint completed in summer of 2024. Professionally managed quadplex abuts Panther lake and walking trails. Fully occupied units, One bed/one bath units for easy rentability, All units have Washer/dryer, fireplaces, DW, balcony or deck. 4 Covered carport may tandem park and 3 uncovered guest spots. Community sports court and play area,. Very close to all shopping needs of big box and boutique shops. I-5, Hwy 18 and 99 access. Federal Way Light rail completed December 2025. Maybe a good property for owner occupied for easy finance. MLS 2501184 is also listed next door to make it a great assemblage portfolio.

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34025 1st Place S Facts & Features

  • Type Multi-Family
  • Lot 0.24 Acres

Details

General

Association/HOA

  • Association Fee: $677.80
  • Association Fee Frequency: Monthly

School Information

  • School District: Federal Way

Green Features

  • Green Energy Efficient: Thermal Windows

Income/Expenses

  • Other Expense: 0
  • Electric Expense: 0
  • Fuel Expense: 0
  • Gross Scheduled Income: 70020
  • Insurance Expense: 3183
  • Net Operating Income: 70020
  • Total Expenses: 10778
  • Total Monthly Income: 5835
  • Water/Sewer/Garbage: 0

Building Information

  • New Construction: No
  • Year Built: 1979

Location/Region

  • Country: US
  • County Or Parish: King
  • MLS Area Major: 110 - Dash Point/Federal Way
  • Subdivision Name: Panther Lake

Community/Development

  • Amenities: Playground,Thermal Windows

Tax Information

  • Tax Annual Amount: $7,595.00
  • Tax Year: 2026

General Information

  • Listing Terms: Cash, Conventional
  • Parcel Number: 1322020470
  • Possible Use: Multi-Family
  • Property Condition: Good
  • Property Sub Type: Multi Family
  • Property Type: Residential Income
  • Senior Community: No
  • Special Listing Conditions: None

Interior

Parking Information

  • Garage Spaces: 0

Beds/Baths

  • Bedrooms Upper: 0

Building Interior

  • Building Area Total: 0
  • Building Area Units: Square Feet
  • Calculated Square Footage: 0
  • Square Footage Finished: 0
  • Square Footage Unfinished: 0

General Information

  • Cooling: No
  • Fireplace: No
  • Fireplaces Total: 0
  • Flooring: Vinyl Plank, Carpet
  • Foundation Details: Slab
  • Heating: Yes
  • Leasable Area: 2800
  • Living Area: 0
  • Main Level Bathrooms: 0
  • Power Production Type: Electric,Wood
  • Stories Total: 2

Exterior

Parking Information

  • Open Parking: No
  • Parking Total: 7
  • Parking Uncovered Total: 3

Lot Information

  • Irrigation Water Rights: No
  • Lot Features: Curbs, Paved, Sidewalk
  • Lot Size Acres: 0.2359
  • Lot Size Square Feet: 10278
  • Lot Size Units: Square Feet
  • Site Features: Athletic Court, Cable TV, Deck, High Speed Internet, Patio
  • Elevation Units: Feet
  • Water Source: Public

Waterfront/View

  • Waterfront: No

Building Exterior/Construction

  • Roof: Composition
  • Structure Type: Quadruplex

General Information

  • Carport Spaces: 4
  • Carport: No
  • Covered Spaces: 4
  • Exterior Features: Wood
  • Number Of Units Total: 4
  • Sewer: Sewer Connected

Unit Information

Unit 2 Details

  • Actual Rent: 1350
  • Beds Total: 1
  • Baths Total: 1

Unit 3 Details

  • Actual Rent: 1495
  • Beds Total: 1
  • Baths Total: 1

Unit 4 Details

  • Actual Rent: 1495
  • Beds Total: 1
  • Baths Total: 1

Unit 1 Details

  • Actual Rent: 1495
  • Beds Total: 1
  • Baths Total: 1

34025 1st Place S Neighborhood

Community

98003 (Federal Way) Demographics

35
Median Age
4,212
Population Density (per sq. mile)
37%
College Educated
$59,560
Estimated Median Income
8,722
Estimated Total Home Owners
9,793
Estimated Total Renters
47% / 53%
Estimated Owner / Renter Divide
3
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

34025 1st Place S Monthly Cost

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* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

34025 1st Place S Market Data

Based on the last 30 days in this zip code

$505,390
Average List Price
$301
Average Price per Square Foot
39
Properties Sold
83
Average Days on Market
166
Properties for Sale
Calculations provided by Reliance Network

34025 1st Place S History

Date Event Value Agent
6/9/2026Source: NWMLS Added to Database
June 09, 2026