34027 1st Place S, Federal Way, WA 98003
- $845,000
- 3,056
- SqFt
Listing courtesy of Windermere Real Estate/PSR Inc.
- List Price
- $845,000
- Status
- PENDING
- MLS#
- 2494441
- Price Change
- ▼ $54,950 1781046714
- Days on Market
- 117
- Style
- 54 - 4-Plex
- Building Condition
- Good
- Finished SqFt
- 3,056
- Area Total SqFt
- 3056
- Annual Tax Ammount
- 8473
- Internet Provider
- Xfinity
- Lot Size (sq ft)
- 10,379
- Sewer
- Sewer Connected
Property Description
Turnkey 4-plex opportunity in Federal Way! Strong rental fundamentals and major capital improvements already completed—ideal for both seasoned investors and those looking to expand their portfolio. This spacious property offers 3,056 rentable sq ft across four well-designed 2 bed / 1 bath units, all fully occupied, providing immediate and consistent income. Each unit features in-unit washer & dryer, dedicated covered parking, and comfortable living spaces that stay in demand which enhances tenant appeal and retention! The building envelope has been recently refreshed with significant exterior upgrades, including a new roof (2024) with warranty, new chimney chase cover, new gutters, and a full exterior paint job—minimizing deferred maintenance and future capital expenses. Hello, fewer surprise expenses! With big-ticket items already addressed, this investment offers a more predictable ownership experience and allows the next owner to focus on cash flow and long-term appreciation. The location is a win—close to restaurants, shopping, transit, and schools, plus just minutes to the new Sound Transit light rail. A low-maintenance, income-producing asset that you don’t want to miss!
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Additional Information
- List Date
- 2026-03-31 18:33:11
- Community
- West Campus
- Net Operating Income
- $69,600
- Gross Adjusted Income
- $69,600
- Gross Scheduled Income
- $69,600
- Total Monthly Income
- $6,300
- Insurance Expenses
- $3,100
- Water/Sewer/Garbage Expenses
- $6,000
- Gross Rent Multiplier
- 12.63
- Total Expenses
- $17,573
- Cap Rate
- 5.7
- Total Number of Units
- 4
- Unit Name
- 34027
- Potential Terms
- Cash, Conventional, VA Loan
- Year Built
- 1979
- View
- Territorial
- Roof
- Composition
- Site Features
- Cable TV, Deck, High Speed Internet
- Energy Source
- Electric
- School District
- Federal Way
- Elementary School
- Panther Lake Elem
- Middle School
- Illahee Jnr High
- High School
- Todd Beamer High
- Total Monthly Income
- $6,300
- Gross Scheduled Income
- $69,600
- Gross Adjusted Income
- $69,600
- Tax Year
- 2025
- Insurance Expense
- $3,100
- W/S/G Expenses
- $6,000
- Total Expenses
- $17,573
- Net Operating Income
- $69,600
- Gross Rent Multiplier
- 12.63
- Cap Rate
- 5.7
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 is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.