Property Details
34027 1st Place S, Federal Way, WA 98003
Federal Way, WA 98003
$899,950
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About This Home
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!
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
King
Neighborhood
West Campus
Listed
Mar 20, 2026
Interior Features
Bathrooms
0.0
Stories
2
Exterior & Lot
Lot Size
0.24 sqft
Year Built
1979
Exterior Materials
Metal/Vinyl, Wood
Sewer
Sewer Connected
Water Source
Public
Lot Features
Cul-De-Sac, Curbs, Dead End Street, Paved, Sidewalk
Exterior Features
Metal/Vinyl, Wood
Location
City
Federal Way
County
King
Coordinates
47.29644, -122.33513
Schools
School District
Federal Way
Elementary School
Panther Lake Elem
Middle School
Illahee Jnr High
High School
Todd Beamer High
HOA / Association
HOA Fee
$678 / Monthly
Additional Information
Tax Year
2025
Annual Taxes
$8,473
Possession
Array
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Estimated Monthly Payment
$0
Provided by Beyond Real Estate, LLC
Down Payment Assistance Available
This property may qualify for homebuyer assistance programs
Find out if you’re eligible for down payment assistance programs that could help make this home more affordable. Programs can provide thousands of dollars toward your down payment and closing costs.
Check Your EligibilityBased on information submitted to the MLS GRID as of April 2, 2026 5:48 AM. 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, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
IDX information is 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. Copyright 2026 NWMLS. All rights reserved.
