LKV Realty
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Martha ZahuitaRSVP Brokers ERA
$899,950
34214 1st Place S, Federal Way, WA 98003Listing ID 2500500

34214 1st Place S, Federal Way, WA 98003

Active
Panther Lake
Last updated: Jul 20, 2026
Property Type
Property Type
Residential Income
Property Sub Type
Property Sub Type
Multi Family
Square Feet
Square Feet
3,056
Acres
Acres
0.24
Cooling
Cooling
None
Heating
Heating
Baseboard
Year Built
Year Built
1977

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.

Property Information

Property Details

Location

Address
34214 1st Place S
County
King
City
Federal Way
Zip Code
98003
Subdivision
Panther Lake
School District
Federal Way
High School
Todd Beamer High
Elementary School
Panther Lake Elem
MLS Area
110 - Dash Point/Federal Way

Interior Features

Heating and Cooling

Cooling
None
Heating
Baseboard

Building

Building Information

Square Feet
3,056
Year Built
1977
Construction
Wood
Foundation
Poured Concrete
Roof
Composition
Condition
Good

Financial

Special Conditions
None

Property Taxes

Tax Annual Amount
$8,626
Tax Year
2025

Homeowner Association

HOA Fee
$375
HOA Fee Frequency
Monthly
Source: Northwest Multiple Listing Service
Northwest Multiple Listing Service logo

Based on information submitted to the MLS GRID as of 18 Aug 2026, 12:24 PM UTC. 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. Some IDX listings have been excluded from this website. 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. This data is deemed reliable but is not guaranteed by MLS GRID. The use of the MLS GRID Data may be subject to an end user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time. MLS GRID may, at its discretion, require use of other disclaimers as necessary to protect Member Participant, and/or their MLS from liability.

For corrections to this data please contact Brytecore MLS Support.

NWM41838 • NWM110899

*Average of $2,150 in rewards is calculated based on the purchase or sale of a home between $400,000 to $449,000. The median home price for all housing types is in the United States is $405,400 as of 2025 as reported by the National Association of Realtors® (NAR). The actual reward amount may vary depending on the purchase or sales price of the home. Please see the Lakeview Home Rewards program terms and conditions for more details. The National Association of Realtors® is a registered trademark of the National Association of Realtors®.