Excellent investment opportunity! This spacious 4-plex offers 3,904 rentable sq ft and strong income potential. Each unit is 2 bedroom, 1.5 baths and 3 units have been updated with fresh paint and carpet. Units provide comfortable living space, making it ideal for both long-term tenants and short-term rentals. Located in a desirable area with easy access to amenities, transit and schools. This property is perfect for savvy investors looking to grow their portfolio. Don’t miss your chance to own a high-demand multi-unit in a prime location just minutes from new Sound Transit light rail and all the services you can imagine.
Sold
Listed by: Windermere RE West Campus Inc
Bought with: Windermere Prof Partners
$1,050,000
23 S 338th Place, Federal Way, WA 98003
8beds
8baths
3,904sqft
Multi Family
Built in 1979
-- sqft lot
$1,066,200 Zestimate®
$269/sqft
$2,059 Estimated rent
Home value
$1,066,200
$981,000 - $1.16M
$2,059/mo
Zestimate® history
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$6,906/mo
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Comfortable living space
Zillow last checked:
Listing updated:
Listed by:
Stephen Janho,
Windermere RE West Campus Inc,
Beck Nordstrom,
Windermere RE West Campus Inc
Bought with:
Anders Ibsen, 21033248
Windermere Prof Partners
Ashley L Mills, 21014187
Windermere Prof Partners
Source: NWMLS as distributed by MLS GRID,MLS#: 2397419
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 8
- Bathrooms: 8
Heating
- Baseboard, Electric
Cooling
- None
Features
- Flooring: Vinyl, Carpet
- Windows: Thermal Windows
- Has fireplace: No
Interior area
- Total structure area: 3,904
- Total interior livable area: 3,904 sqft
Property
Parking
- Total spaces: 2
- Parking features: Open
- Carport spaces: 1
- Uncovered spaces: 1
Lot
- Size: 0.28 Acres
- Features: Curbs, Dead End Street, Paved, Sidewalk, Cable TV, Deck, High Speed Internet
Details
- Parcel number: 1322020310
- Zoning description: Multi-Family
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Wood Siding, Wood Products
- Roof: Composition
Condition
- Good
- Year built: 1979
- Major remodel year: 2000
Utilities & green energy
- Electric: Company: PSE
- Sewer: Sewer Connected, Company: Lakehaven
- Water: Public, Company: Lakehaven
- Utilities for property: Xfinity, Xfinity
Green energy
- Energy efficient items: Thermal Windows
Community & neighborhood
Location
- Region: Federal Way
- Subdivision: Federal Way
HOA & financial
HOA
- HOA fee: $678 monthly
Other
Other facts
- Listing terms: Conventional
- Cumulative days on market: 210 days
Price history
| Date | Event | Price |
|---|---|---|
| 9/3/2025 | Sold | $1,050,000+0.5%$269/sqft |
Source:  NWMLS as distributed by MLS GRID #2397419 Report a problem | ||
| 7/31/2025 | Pending sale | $1,044,995$268/sqft |
Source: NWMLS as distributed by MLS GRID #2397419 Report a problem | ||
| 7/11/2025 | Price change | $1,044,995-1.9%$268/sqft |
Source: NWMLS as distributed by MLS GRID #2397419 Report a problem | ||
| 6/26/2025 | Listed for sale | $1,064,995+243.5%$273/sqft |
Source: NWMLS as distributed by MLS GRID #2397419 Report a problem | ||
| 4/20/2004 | Sold | $310,000+18.5%$79/sqft |
Source: NWMLS as distributed by MLS GRID #24020661 Report a problem | ||
| 10/26/2001 | Sold | $261,500+10.1%$67/sqft |
Source: NWMLS as distributed by MLS GRID #21121887 Report a problem | ||
| 11/16/2000 | Sold | $237,500+18.8%$61/sqft |
Source: Public Record Report a problem | ||
| 6/30/1998 | Sold | $200,000$51/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $10,258 +7.8% | $907,000 +3.9% |
| 2024 | $9,513 +0.3% | $873,000 +1.5% |
| 2023 | $9,482 +10.9% | $860,000 -0.2% |
| 2022 | $8,549 -3.1% | $862,000 +11.2% |
| 2021 | $8,824 +2.9% | $775,000 +9.5% |
| 2020 | $8,576 +12.4% | $708,000 +12.2% |
| 2019 | $7,632 +14.3% | $631,000 +10.7% |
| 2018 | $6,677 -5.8% | $570,000 +16.3% |
| 2017 | $7,087 +19.7% | $490,000 +8.2% |
| 2016 | $5,921 | $453,000 +2.3% |
| 2015 | $5,921 | $443,000 +10.8% |
| 2014 | $5,921 | $400,000 -4.3% |
| 2013 | $5,921 | $418,000 +8% |
| 2012 | -- | $387,000 |
| 2011 | -- | $387,000 -9.4% |
| 2010 | -- | $427,000 |
| 2009 | -- | $427,000 +15.4% |
| 2007 | -- | $370,000 +41.2% |
| 2006 | -- | $262,000 |
| 2005 | -- | $262,000 +27.2% |
| 2001 | $2,874 -5.3% | $206,000 -1.9% |
| 2000 | $3,035 | $210,000 |
Find assessor info on the county website
Neighborhood: West Campus
Nearby schools
GreatSchools rating
- 2/10Panther Lake Elementary SchoolGrades: PK-5Distance: 0.3 mi
- 4/10Illahee Middle SchoolGrades: 5-8Distance: 1.4 mi
- 3/10Todd Beamer High SchoolGrades: 9-12Distance: 1.7 mi
Schools provided by the listing agent
- Elementary: Panther Lake Elem
- Middle: Illahee Jnr High
- High: Todd Beamer High
Source: NWMLS as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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Estimated market value
$1,066,200
Get a cash offer in 3 minutes
Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$1,066,200
- Washington
- King County
- Federal Way
- 98003
- West Campus
- 23 S 338th Place
Nearby cities
Nearby neighborhoods
Nearby zip codes
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