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!
Sold
Listed by: Windermere Real Estate/PSR Inc • Heather Maddox
Bought with: RE/MAX Northwest
$825,000
34027 1st Place S, Federal Way, WA 98003
8beds
4baths
3,056sqft
Quadruplex, Multi Family
Built in 1979
-- sqft lot
$824,900 Zestimate®
$270/sqft
$2,023 Estimated rent
Home value
$824,900
$767,000 - $891,000
$2,023/mo
Zestimate® history
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$5,701/mo
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List your homeWhat's special
Dedicated covered parkingNew chimney chase coverNew guttersIn-unit washer and dryerComfortable living spacesFull exterior paint job
Zillow last checked:
Listing updated:
Listed by:
Heather Maddox,
Windermere Real Estate/PSR Inc,
Brandi Nelson,
Windermere Real Estate/PSR Inc
Bought with:
Kathlyn Smith, 86299
RE/MAX Northwest
Tanvi Girn, 23031166
RE/MAX Northwest
Source: NWMLS as distributed by MLS GRID,MLS#: 2494441
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 8
- Bathrooms: 4
Heating
- Wall Furnace, Electric
Cooling
- None
Features
- Flooring: Laminate, Carpet
- Has fireplace: No
Interior area
- Total structure area: 3,056
- Total interior livable area: 3,056 sqft
Property
Parking
- Total spaces: 8
- Carport spaces: 4
- Uncovered spaces: 4
Features
- Has view: Yes
- View description: Territorial
Lot
- Size: 10,380 Square Feet
- Features: Cul-De-Sac, Curbs, Dead End Street, Paved, Sidewalk, Cable TV, Deck, High Speed Internet
Details
- Parcel number: 1322020480
- 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
- Metal/Vinyl, Wood Siding
- Foundation: Poured Concrete
- Roof: Composition
Condition
- Good
- Year built: 1979
- Major remodel year: 2000
Utilities & green energy
- Electric: Company: Puget Sound Energy
- Sewer: Sewer Connected, Company: Lakehaven
- Water: Public, Company: Lakehaven
- Utilities for property: Xfinity, Xfinity
Community & HOA
Community
- Subdivision: West Campus
HOA
- HOA fee: $678 monthly
Location
- Region: Federal Way
Financial & listing details
- Price per square foot: $270/sqft
- Tax assessed value: $815,000
- Annual tax amount: $8,473
- Date on market: 5/14/2026
- Cumulative days on market: 92 days
- Listing terms: Conventional,VA Loan
Price history
| Date | Event | Price |
|---|---|---|
| 7/31/2026 | Sold | $825,000-2.4%$270/sqft |
Source:  NWMLS as distributed by MLS GRID #2494441 Report a problem | ||
| 6/20/2026 | Pending sale | $845,000$277/sqft |
Source: NWMLS as distributed by MLS GRID #2494441 Report a problem | ||
| 6/9/2026 | Price change | $845,000-6.1%$277/sqft |
Source: NWMLS as distributed by MLS GRID #2494441 Report a problem | ||
| 3/21/2026 | Listed for sale | $899,950$294/sqft |
Source: NWMLS as distributed by MLS GRID #2494441 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $9,128 +7.7% | $815,000 +3.8% |
| 2024 | $8,473 +0.4% | $785,000 +1.8% |
| 2023 | $8,442 +6.9% | $771,000 -4% |
| 2022 | $7,898 -4.7% | $803,000 +9.4% |
| 2021 | $8,292 +4.8% | $734,000 +11.6% |
| 2020 | $7,915 +19.8% | $658,000 +18.3% |
| 2019 | $6,608 +12.6% | $556,000 +8.8% |
| 2018 | $5,867 -6.9% | $511,000 +15.1% |
| 2017 | $6,304 +23.5% | $444,000 +9.4% |
| 2016 | $5,106 | $406,000 +1.2% |
| 2015 | $5,106 | $401,000 +13.9% |
| 2014 | $5,106 | $352,000 -5.9% |
| 2013 | $5,106 | $374,000 +9% |
| 2012 | -- | $343,000 |
| 2011 | -- | $343,000 -8.3% |
| 2010 | -- | $374,000 |
| 2009 | -- | $374,000 +15.1% |
| 2007 | -- | $325,000 +45.7% |
| 2006 | -- | $223,000 |
| 2005 | -- | $223,000 +13.8% |
| 2001 | $2,633 -5.4% | $196,000 -2% |
| 2000 | $2,784 | $200,000 |
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: 0.2 mi
- 4/10Illahee Middle SchoolGrades: 5-8Distance: 1.3 mi
- 3/10Todd Beamer High SchoolGrades: 9-12Distance: 1.6 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
$824,900
Get a cash offer in 3 minutes
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Estimated market value
$824,900
- Washington
- King County
- Federal Way
- 98003
- West Campus
- 34027 1st Place S
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