$989,000
Est. $4,985/mo34120 1st Place S, Federal Way, WA 98003
• Listed 2026-03-13•5 days on market
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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.
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34120 1st Place S, Federal Way, WA 98003
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MLS GRID Disclaimer
Based on information submitted to the MLS GRID as of June 12, 2026 at 09:29pm (date and time MLS GRID Data was obtained). 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.
Listing information courtesy of Northwest Multiple Listing Service (NWMLS). The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than RexMont Real Estate are marked with the “Listing courtesy of NWMLS” designation. Information provided is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
© 2026 Northwest Multiple Listing Service. All rights reserved.
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Listed by Lindsay Jackman • Real Broker LLC
Listing updated: June 12, 2026 at 09:29pm
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2491971
Federal Way School District
Assigned schools for this property per the listing's MLS data. School district boundaries change — verify the exact assigned schools with the district before purchasing.
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8 weeks ago
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115 S 339th Circle, Federal Way, WA 98003
5%
Under list
—
Days on market
0.2 mi
Distance
$859,000 Sold
5 months ago
•Single Family
23 S 342nd Place, Federal Way, WA 98003
0%
Over list
—
Days on market
0.2 mi
Distance
$590,000 Sold
5 months ago
3 bd•2 ba•~1,720 sq ft•Single Family
34716 4th Place S, Federal Way, WA 98003
2%
Under list
—
Days on market
0.5 mi
Distance
$599,950 Sold
6 months ago
3 bd•1.5 ba•~2,010 sq ft•Single Family
34609 4th Place S, Federal Way, WA 98003
0%
Over list
—
Days on market
0.4 mi
Distance
Closed sales from MLS GRID / NWMLS within the past 6 months, matched on property type and within 1 mile. Comps approximate.
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Ask a RexMont agentMarket data from MLS GRID / NWMLS
