34120 1st Place S, Federal Way, WA 98003

Property Description

Great investment opportunity in Federal Way. Well-maintained four-plex featuring four spacious 2-bedroom, 1-bath units, each offering approximately 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.

Listing Status:

Active

Data Last Updated:

April 2, 2026 at 1:21PM

Listing Office:

Real Broker LLC : 855-450-0442

Listing Agent:

Lindsay Jackman : 855-450-0442

MLS ID:

2491971

Interior

• Flooring: VinylCarpet
• A/C: None
• Heating: Baseboard
• Fireplace: Fireplaces: 0

Exterior

• General: WoodWood Products
• Parking: Parking spaces: 6

Construction

• Roofing: Tile
• General: 54 - 4-PlexPoured Concrete

Location

• HOA Amenities: 375.0Monthly
• Originating MLS: nwmls
• School District: Federal Way
• County: King

Lot

• Zoning: 1322010380
• View: TerritorialView

Utilities

• Water: Public
• Sewer: Sewer Connected

Financial

• Source: nwmls