Turnkey Investment in a great community. Features 4 occupied spacious units w/functional layouts. 2 units w/2 beds, 1 full bath and 2 units w/1 bed, 1 full bath with a loft and vaulted ceilings - highly desirable units. All units have a cozy FP, in-unit W/D, balcony or deck. Dedicated covered parking spots for each unit + visitor parking. New roof in 2024, New siding in 2024, new exterior and interior paint in 2024. Prime location close to schools, library, shopping, restaurants, hospital, Redondo beach, Costco & Winco. Community sports courts, play areas and amenities. Easy access to I-5, Hwy 99, Hwy 18 and upcoming light rail for commuters. Great cash flowing property.
Sold
Listed by: Skyline Properties, Inc. • Michael Fladseth
Bought with: HomeSmart Real Estate Assoc
$859,000
23 S 342nd Place, Federal Way, WA 98003
6beds
4baths
2,712sqft
Quadruplex, Multi Family
Built in 1979
-- sqft lot
$844,600 Zestimate®
$317/sqft
$2,337 Estimated rent
Home value
$844,600
$777,000 - $921,000
$2,337/mo
Zestimate® history
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$5,908/mo
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Visitor parkingSpacious unitsFunctional layoutsBalcony or deckVaulted ceilingsDedicated covered parking spots
Zillow last checked:
Listing updated:
Listed by:
Michael Fladseth,
Skyline Properties, Inc.
Bought with:
Linh Ngo, 126877
HomeSmart Real Estate Assoc
Source: NWMLS as distributed by MLS GRID,MLS#: 2451216
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 6
- Bathrooms: 4
Heating
- Baseboard, Electric
Cooling
- None
Features
- Flooring: Vinyl, Carpet
- Has fireplace: No
Interior area
- Total structure area: 2,712
- Total interior livable area: 2,712 sqft
Property
Parking
- Total spaces: 8
- Parking features: Open
- Carport spaces: 4
- Uncovered spaces: 4
Features
- Has view: Yes
- View description: Territorial
Lot
- Size: 0.3 Acres
- Features: Adjacent to Public Land, Cul-De-Sac, Curbs, Dead End Street, Paved, Sidewalk, Athletic Court, Cable TV, Deck, High Speed Internet, Patio
Details
- Parcel number: 1322020580
- Zoning description: Multi-Family,Jurisdiction: City
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Architectural style: 4-Plex
- Property subtype: Quadruplex, Multi Family
Materials
- Wood Siding
- Foundation: Poured Concrete
- Roof: Composition
Condition
- Good
- Year built: 1979
Utilities & green energy
- Electric: Company: Puget Sound Energy
- Sewer: Sewer Connected, Company: Lakehaven
- Water: Public, Company: Lakehaven
Community & HOA
Community
- Subdivision: Panther Lake
HOA
- HOA fee: $677 monthly
Location
- Region: Federal Way
Financial & listing details
- Price per square foot: $317/sqft
- Tax assessed value: $751,000
- Annual tax amount: $7,870
- Date on market: 12/30/2025
- Cumulative days on market: 204 days
- Listing terms: Conventional,FHA,VA Loan
Price history
| Date | Event | Price |
|---|---|---|
| 1/21/2026 | Sold | $859,000$317/sqft |
Source:  NWMLS as distributed by MLS GRID #2451216 Report a problem | ||
| 12/31/2025 | Pending sale | $859,000$317/sqft |
Source: NWMLS as distributed by MLS GRID #2451216 Report a problem | ||
| 12/27/2025 | Listed for sale | $859,000$317/sqft |
Source: NWMLS as distributed by MLS GRID #2451216 Report a problem | ||
| 12/18/2025 | Pending sale | $859,000$317/sqft |
Source: NWMLS as distributed by MLS GRID #2451216 Report a problem | ||
| 12/2/2025 | Price change | $859,000-1.2%$317/sqft |
Source: NWMLS as distributed by MLS GRID #2451216 Report a problem | ||
| 10/31/2025 | Listed for sale | $869,000$320/sqft |
Source: NWMLS as distributed by MLS GRID #2451216 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $8,486 +7.8% | $751,000 +3.9% |
| 2024 | $7,870 -2.7% | $723,000 -1.8% |
| 2023 | $8,091 +12% | $736,000 +0.8% |
| 2022 | $7,221 +0.1% | $730,000 +15.1% |
| 2021 | $7,211 +2.2% | $634,000 +8.7% |
| 2020 | $7,053 +12.8% | $583,000 +11.5% |
| 2019 | $6,253 +20.8% | $523,000 +17% |
| 2018 | $5,177 -8.6% | $447,000 +12.9% |
| 2017 | $5,664 +20.7% | $396,000 +12.2% |
| 2016 | $4,693 | $353,000 -2.2% |
| 2015 | $4,693 | $361,000 +12.5% |
| 2014 | $4,693 | $321,000 -9.1% |
| 2013 | $4,693 | $353,000 +9.6% |
| 2012 | -- | $322,000 |
| 2011 | -- | $322,000 +0.9% |
| 2010 | -- | $319,000 |
| 2009 | -- | $319,000 +2.9% |
| 2007 | -- | $310,000 +47.6% |
| 2006 | -- | $210,000 |
| 2005 | -- | $210,000 +16% |
| 2001 | $2,462 -5.5% | $181,000 -2.2% |
| 2000 | $2,607 | $185,000 |
Find assessor info on the county website
Neighborhood: West Campus
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Nearby schools
GreatSchools rating
- 2/10Panther Lake Elementary SchoolGrades: PK-5Distance: 0.1 mi
- 4/10Illahee Middle SchoolGrades: 5-8Distance: 1.2 mi
- 3/10Todd Beamer High SchoolGrades: 9-12Distance: 1.6 mi
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Estimated market value
$844,600
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Estimated market value
$844,600
- Washington
- King County
- Federal Way
- 98003
- West Campus
- 23 S 342nd Place
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