For Sale24d on market
34120 1st Place S
Federal Way, WA, 98003 • West Campus • King County
$989,000
$275/sqft
-$11,000 since Mar 31, 2026
Down payment assistance available
8Beds
4Baths
3,600Sqft
0.23 acLot
1977Built
Property DNA
Territorial Views
Territorial
4-Plex Style
Built 1977 · 49 years of history
Panther Lake
West Campus
This home is getting attention
Listed 24 days ago · 533 views · 22 saves
Market activity
Demand and pricing signals for this listing
533 views
People checking out this listing
22 saves
Buyers have saved this home
24 days on market
Recently listed
$275/sqft
Price per square foot
Selling Soon Prediction
ModerateThis home ranks in the top 38% of listings most likely to go under contract soon, based on market activity and demand signals.
Likelihood score
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About this home
Multi Family · Built 1977
Great investment opportunity in Federal Way. Well-maintained four-plex featuring four spacious 2-bedroom, 1-bath units, each offering approximately 1,000 square feet of comfortable living space. Functional layouts, generous unit sizes, and consistent rental demand support strong long-term performance. Property currently offers a cap rate of over 6%, making it an attractive addition to an investment portfolio. Significant capital improvement completed with a new tile roof installed in 2022, providing durability and reducing future maintenance concerns. Conveniently located near major commuting routes, shopping, dining, and everyday amenities. Large unit sizes, solid income potential, and key updates make this a compelling multi-family investment opportunity in a strong rental market. Excellent opportunity for investors seeking stable cash flow and long-term value.
Standout features identified
Our analysis highlights generous unit sizes, large unit sizes, and functional layouts as key attractions of this home.
Estimated monthly payment
Based on current rates
$6,530/month
Principal & Interest$4,836
Property Tax$989
Insurance$330
HOA$375
Down payment20% ($197,800)
3%50%
Est. 6.18% rate · 30yr fixed · $791,200 loan
Full calculator →At a glance
Key facts and listing details
TypeMulti Family
Year Built1977
HeatingBaseboard, Electric
CoolingNone
Parking4 Covered Parking spaces
HOA$375 monthly
Days on Zillow24 Days
Price/sqft$275
Property
Home typeMulti Family
Sub-typeMulti Family
Style4-Plex
ConditionGood
Year built1977
Systems
HeatingBaseboard, Electric
CoolingNone
RoofTile
ConstructionWood Siding, Wood Products
Water / SewerPublic, Company: Lakehaven / Sewer Connected, Company: Lakehaven
Parking & Outdoor
Lot9,927 sqft
Location & Tax
NeighborhoodWest Campus
Annual tax$8,984
Parcel1322010380
Bathrooms & Fees
HOA$375/mo
Features & details
6 categories of property features
Interior Features
Flooring
Vinyl
Carpet
Heating
Baseboard
Electric
Cooling
None
Exterior Features
Construction
Wood Siding
Wood Products
Lot Features
Cul-De-Sac
Dead End Street
Cable TV
Deck
Patio
Views
Territorial
Listing insights
Market data and value estimates
StatusFor Sale
Days on market24
Est. value$972,100
Est. rent$1,890/mo
Tax rate0.82%
Price/sqft$275
On marketMar 12, 2026
PostedMar 13, 2026
MLS statusActive
MLS updatedMar 31, 2026
Tour days9
Views533
Favorites22
How are the schools in Federal Way?
3 schools rated nearby
Location
Federal Way, WA, 98003
Price history
4 events
DateEventPrice$/sqftSource
Mar 31, 2026Price Change$989,000$275NWMLS as distributed by MLS GRID
Mar 13, 2026Listed For Sale$1,000,000$278NWMLS as distributed by MLS GRID
Jul 7, 2020Listing Removed$1,475—Zillow Rental Manager
Jun 30, 2020Listed For Rent$1,475—Zillow Rental Manager
Price Change$989,000
Mar 31, 2026•$275/sqft•NWMLS as distributed by MLS GRID
Listed For Sale$1,000,000
Mar 13, 2026•$278/sqft•NWMLS as distributed by MLS GRID
Listing Removed$1,475
Jul 7, 20200•Zillow Rental Manager
Listed For Rent$1,475
Jun 30, 20200•Zillow Rental Manager
Tax history
21 years of records
YearTax paidAssessed value
Apr 7, 2024$8,984$806,000
Apr 7, 2023$8,711$776,000
Apr 7, 2022$8,733$870,000
Apr 7, 2021$9,472$825,000
Apr 7, 2020$9,568$785,000
Apr 7, 2019$7,595$627,000
Apr 7, 2018$6,383$543,000
Apr 7, 2017$6,845$472,000
Apr 7, 2016$5,702$428,000
Apr 7, 2015$5,702$418,000
Apr 7, 2014$5,702$384,000
Apr 7, 2013$5,702$385,000
Apr 7, 2012—$367,000
Apr 7, 2011—$367,000
Apr 7, 2010—$388,000
Apr 7, 2009—$388,000
Apr 7, 2007—$355,000
Apr 7, 2006—$244,000
Apr 7, 2005—$244,000
Apr 7, 2001$2,843$201,000
Apr 7, 2000$3,003$205,000
Nearby homes
Neighborhood details
Local context around this listing
Federal Way, WA • King County
Nearby neighborhoods
AdelaideAlderbrookCampus HighlandsLaurelwoodMadronaMirror LakeRedondoSteel LakeTwin LakesWest Campus
Nearby cities
AuburnBellevueBothellFederal WayKentKirklandRedmondRenton
Nearby zip codes
98003980239806398093
Similar homes
Based on information submitted to the MLS GRID as of 2026-04-07 05:38:26 PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. [Click here for more information](/mls-disclaimers/#39)
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