A quiet and serene 4-plex multi-family home centrally located in Federal Way with convenient transportation. Extremely accessible to bus, light rail, shopping center, and dining, with easy access to I-5, Hwy 99 and the King County library located right across the street. Great opportunity to own an income-generating 4-plex featuring an estimate Cap rate around 5%. All units are managed by on-site property management so it's easy and low maintenance to manage.
Active
Listed by: Q Star Seattle Corporation • Pearl Lee
$1,200,000
27 S 342nd Place, Federal Way, WA 98003
2beds
1baths
3,600sqft
Quadruplex, Multi Family
Built in 1979
-- sqft lot
$828,800 Zestimate®
$333/sqft
$678/mo HOA
What's special
- 1 day |
- 28 |
- 2 |
Likely to sell faster than
Zillow last checked:
Listing updated:
Listed by:
Pearl Lee,
Q Star Seattle Corporation,
Sung-Bae Oh,
Q Star Seattle Corporation
Source: NWMLS as distributed by MLS GRID,MLS#: 2571153
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 1
Heating
- Baseboard, Radiant, Electric
Cooling
- None
Features
- Has fireplace: No
Interior area
- Total structure area: 3,600
- Total interior livable area: 3,600 sqft
Property
Parking
- Total spaces: 4
- Carport spaces: 4
- Uncovered spaces: 2
Lot
- Size: 0.32 Acres
Details
- Parcel number: 1322020660
- Zoning description: 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
- Major remodel year: 2000
Utilities & green energy
- Electric: Company: PSE
- Sewer: Sewer Connected, Company: Lakehaven
- Water: Public, Company: Lakehaven
Community & HOA
Community
- Subdivision: Central Federal Way
HOA
- HOA fee: $678 monthly
Location
- Region: Federal Way
Financial & listing details
- Price per square foot: $333/sqft
- Tax assessed value: $755,000
- Annual tax amount: $8,604
- Date on market: 8/20/2026
- Cumulative days on market: 2 days
- Listing terms: Conventional
Estimated market value
$828,800
$754,000 - $903,000
$2,375/mo
Price history
| Date | Event | Price |
|---|---|---|
| 8/21/2026 | Listed for sale | $1,200,000+83.2%$333/sqft |
Source:  NWMLS as distributed by MLS GRID #2571153 Report a problem | ||
| 2/19/2021 | Sold | $655,000+103.1%$182/sqft |
Source: Public Record Report a problem | ||
| 4/30/2004 | Sold | $322,500$90/sqft |
Source: NWMLS as distributed by MLS GRID #24033147 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $8,604 +8.1% | $755,000 +3.9% |
| 2024 | $7,962 -2.4% | $727,000 -3.1% |
| 2023 | $8,161 +15.2% | $750,000 +3.7% |
| 2022 | $7,083 -13.1% | $723,000 -0.4% |
| 2021 | $8,155 +4.2% | $726,000 +11% |
| 2020 | $7,823 +2.9% | $654,000 +2.5% |
| 2019 | $7,604 +20.3% | $638,000 +16.4% |
| 2018 | $6,322 -5.7% | $548,000 +16.6% |
| 2017 | $6,705 +19.8% | $470,000 +9.3% |
| 2016 | $5,596 | $430,000 +2.1% |
| 2015 | $5,596 | $421,000 +9.6% |
| 2014 | $5,596 | $384,000 -3.5% |
| 2013 | $5,596 | $398,000 +8.4% |
| 2012 | -- | $367,000 |
| 2011 | -- | $367,000 -5.4% |
| 2010 | -- | $388,000 |
| 2009 | -- | $388,000 +9.3% |
| 2007 | -- | $355,000 +45.5% |
| 2006 | -- | $244,000 |
| 2005 | -- | $244,000 +21.4% |
| 2001 | $2,729 -5.4% | $201,000 -2% |
| 2000 | $2,883 | $205,000 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
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Neighborhood: West Campus
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: 1.5 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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