34027 1st Place S, Federal Way, WA 98003 (MLS # 2494441)
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Listing provided courtesy of Northwest MLS; Windermere Real Estate/PSR Inc
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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!
| LAST UPDATED | 3/20/2026 | TRACT | West Campus |
|---|---|---|---|
| YEAR BUILT | 1979 | COMMUNITY | West Campus |
| COUNTY | King | STATUS | Active |
| PROPERTY TYPE(S) | Multi Family |
| Elementary School | Panther Lake Elem |
|---|---|
| Jr. High School | Illahee Jnr High |
| High School | Todd Beamer High |
| ADDITIONAL DETAILS | |
| AIR | None |
|---|---|
| AREA | 110 - Dash Point/Federal Way |
| CONSTRUCTION | Metal Siding, Vinyl Siding, Wood Siding |
| HEAT | Electric, Wall Furnace |
| HOA DUES | 677.8 |
| LOT | 10380 sq ft |
| LOT DESCRIPTION | Cul-de-sac, Curbs, Dead End Street, Paved, Sidewalk |
| MLS STATUS | Active |
| STORIES | 2 |
| STYLE | 54 - 4-Plex |
| SUBDIVISION | West Campus |
| TAXES | 8473 |
| UTILITIES | Cable Available, Sewer Connected |
| VIEW | Yes |
| VIEW DESCRIPTION | Territorial |
| WATER | Public |
| ZONING | Multi-Family |
TOTAL MONTHLY PAYMENT
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Properties with the 
icon are courtesy of Northwest MLS.
Listings courtesy of Northwest MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of 3/21/26 2:45 AM PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. 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.
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