Complete exterior paint completed in summer of 2024. Professionally managed quadplex abuts Panther lake and walking trails. Fully occupied units, One bed/one bath units for easy rentability, All units have Washer/dryer, fireplaces, DW, balcony or deck. 4 Covered carport may tandem park and 3 uncovered guest spots. Community sports court and play area,. Very close to all shopping needs of big box and boutique shops. I-5, Hwy 18 and 99 access. Federal Way Light rail completed December 2025. Maybe a good property for owner occupied for easy finance. MLS 2501184 is also listed next door to make it a great assemblage portfolio.
Active
Listed by: Skyline Properties, Inc. • Sonny Kwan
Price cut: $26K (7/2)
$799,000
34025 1st Place S, Federal Way, WA 98003
4beds
4baths
--sqft
Quadruplex, Multi Family
Built in 1979
-- sqft lot
$795,300 Zestimate®
$--/sqft
$678/mo HOA
What's special
Balcony or deck
- 73 days |
- 109 |
- 7 |
Zillow last checked:
Listing updated:
Listed by:
Sonny Kwan,
Skyline Properties, Inc.
Source: NWMLS as distributed by MLS GRID,MLS#: 2535696
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 4
Heating
- Baseboard, Electric, Wood
Cooling
- None
Features
- Flooring: Vinyl Plank, Carpet
- Windows: Thermal Windows
- Has fireplace: No
Interior area
- Total structure area: 0
Property
Parking
- Total spaces: 7
- Carport spaces: 4
- Uncovered spaces: 3
Features
- Has view: Yes
- View description: Territorial
Lot
- Size: 10,275 Square Feet
- Features: Curbs, Paved, Sidewalk, Athletic Court, Cable TV, Deck, High Speed Internet, Patio
Details
- Parcel number: 1322020470
- 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: Slab
- Roof: Composition
Condition
- Good
- Year built: 1979
- Major remodel year: 2021
Utilities & green energy
- Sewer: Sewer Connected
- Water: Public
Green energy
- Energy efficient items: Thermal Windows
Community & HOA
Community
- Subdivision: Panther Lake
HOA
- HOA fee: $678 monthly
Location
- Region: Federal Way
Financial & listing details
- Tax assessed value: $721,000
- Annual tax amount: $7,595
- Date on market: 6/9/2026
- Cumulative days on market: 74 days
- Listing terms: Conventional
Estimated market value
$795,300
$756,000 - $835,000
$2,457/mo
Price history
| Date | Event | Price |
|---|---|---|
| 7/2/2026 | Price change | $799,000-3.2% |
Source:  NWMLS as distributed by MLS GRID #2535696 Report a problem | ||
| 6/9/2026 | Listed for sale | $825,000+23.2% |
Source: NWMLS as distributed by MLS GRID #2535696 Report a problem | ||
| 2/2/2021 | Sold | $669,500+35.3% |
Source: NWMLS as distributed by MLS GRID #1710617 Report a problem | ||
| 12/29/2020 | Pending sale | $495,000+20.7% |
Source: NWMLS as distributed by MLS GRID #1710617 Report a problem | ||
| 6/29/2017 | Sold | $410,000 |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $8,198 +7.9% | $721,000 +3.9% |
| 2024 | $7,595 -10.7% | $694,000 -10.7% |
| 2023 | $8,505 +17.6% | $777,000 +6% |
| 2022 | $7,232 -8.2% | $733,000 +5.3% |
| 2021 | $7,875 +2.5% | $696,000 +9.1% |
| 2020 | $7,681 +20.7% | $638,000 +19.3% |
| 2019 | $6,363 +19.9% | $535,000 +16.1% |
| 2018 | $5,305 -5.2% | $461,000 +17.3% |
| 2017 | $5,594 +19.1% | $393,000 +8.6% |
| 2016 | $4,695 | $362,000 -2.4% |
| 2015 | $4,695 | $371,000 +14.9% |
| 2014 | $4,695 | $323,000 -0.9% |
| 2013 | $4,695 | $326,000 |
| 2012 | -- | $326,000 |
| 2011 | -- | $326,000 -6.9% |
| 2010 | -- | $350,000 |
| 2009 | -- | $350,000 +12.9% |
| 2007 | -- | $310,000 +47.6% |
| 2006 | -- | $210,000 |
| 2005 | -- | $210,000 +19.3% |
| 2001 | $2,377 -5.6% | $176,000 -2.2% |
| 2000 | $2,518 | $180,000 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: West Campus
Nearby schools
GreatSchools rating
- 2/10Panther Lake Elementary SchoolGrades: PK-5Distance: 0.2 mi
- 4/10Illahee Middle SchoolGrades: 5-8Distance: 1.3 mi
- 3/10Todd Beamer High SchoolGrades: 9-12Distance: 1.6 mi
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A local agent can set up tours, give advice and negotiate with sellers.
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