Date
Details
Price
Change
Source
3/20/2026
Listed
$899,950
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
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1/26
$899,950 Just Listed
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1/26
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!
Full Property Details
Full Property Details for 34027 1st Pl S
General
- Price: $899,950
- HOA FEE: $678/month
- Taxes: $8,473 (2025)
- Status: Active
- Type: Multi-Family
- Source: NWMLS
- MLS ID: 2494441
- Updated: 3/20/2026
- Added to Site: 6 day(s) ago
Interior
- Flooring: Laminate, Carpet
Additional Information
- Amenities: Cable TV, Deck, High Speed Internet
Parking
- Carport Spaces: 4
- Covered Spaces: 4
- Uncovered Spaces: 4
Location
- Area: 110 - Dash Point/Federal Way
- County: King
- Subdivision: West Campus
- Driving Directions: GPS works great! From I-5 South: Take exit 142B. Follow WA-18W, S 348th St, and 1st Ave S to S 340th Pl. 4-Plex at end of culd-de-sac on right.
School Information
- High School District: Federal Way
- Elementary School: Panther Lake Elem
- Middle School: Illahee Jnr High
- High School: Todd Beamer High
Community
- Association: Yes
Heating & Cooling
- Cooling Type: None
- Heating Type: Wall Furnace
Utilities
- Sewer: Sewer Connected
- Water: Public
Structural Information
- Structure Type: Quadruplex
- Exterior Const.: Metal/Vinyl, Wood
- Foundation: Poured Concrete
- Roof: Composition
- Stories in Building: 2
- Square Feet: 3,056
- Year Built: 1979
- Property Condition: Good
Unit Information
- Units in Building: 4
Lot Features
- Property View: Territorial
- Lot Size (Acres): 0.2383
- Lot Size (Sq. Ft.): 10,379
- Lot Size Source: Realist
- Lot Features: Cul-De-Sac, Curbs, Dead End Street, Paved, Sidewalk
- Zoning: Multi-Family
Financial Considerations
- Association Fee: $678
- Assoc Fee Freq.: Monthly
- Tax Amount: $8,473
- Tax Year: 2025
- Terms: Cash, Conventional, VA Loan
Disclosures and Reports
- Special Conditions: None
- Property ID: 1322020480
Listed by Heather Maddox | Windermere Real Estate/PSR Inc | (425) 235-7777 and Brandi Beutler Nelson | Windermere Real Estate/PSR Inc | (425) 235-7777
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NMLS#: 1598647
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Schools
Schools serving 34027 1st Pl S
School District:Federal Way School District
| Name | Grades | Distance |
|---|---|---|
Panther Lake Elementary School, Federal Way, WA 34424 1st Avenue South, Federal Way, WA 98003 | K-5 | 0.2 mi |
Illahee Middle School 36001 1st Avenue South, Federal Way, WA 98003 | 6-8 | 1.3 mi |
Todd Beamer High School 35999 16th Avenue South, Federal Way, WA 98003 | 9-12 | 1.7 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 34027 1st Pl S
Tax History
Tax History for 34027 1st Pl S
Year
Property Taxes
Change
Tax Assessment
Change
2024
$8,473
—
$785,000
-2%
2024
$8,442
7%
$803,000
—
2022
$7,898
—
$803,000
9%
2021
$7,915
—
$734,000
12%
2021
$7,915
20%
$658,000
18%
2020
$6,608
13%
$556,000
9%
2019
$5,867
-7%
$511,000
15%
2018
$6,304
9%
$444,000
9%
2017
$5,769
-3%
$406,000
1%
2016
$5,946
16%
$401,000
14%
2015
$5,106
-15%
$352,000
-6%
2014
$5,986
—
$374,000
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 34027 1st Pl S
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- Multi-Family
- Closed
Listed by Scott Fladseth | Skyline Properties, Inc.
Sold by Linh Ngo | HomeSmart Real Estate Assoc
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- 4Beds
- 4Total Baths
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- 3Total Baths
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Sold by Ryan Runge | American Classic Homes
34027 1st Place S, Federal Way, WA 98003 (MLS# 2494441) is a Multi-Family property with 4 units containing 0 bedrooms and 0 full bathrooms. 34027 1st Place S is currently listed for $899,950 and was received on March 20, 2026. Want to learn more about 34027 1st Place S? Do you have questions about finding other Multi-Family real estate for sale in Federal Way City Center? You can browse all Federal Way City Center real estate or contact a Coldwell Banker agent to request more information.