$845,000
Est. $4,259/mo34027 1st Place S, Federal Way, WA 98003
• Listed 2026-03-20•9 days on market
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Based on information submitted to the MLS GRID as of June 9, 2026 at 11:13am (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.
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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!
Listed by Heather Maddox • Windermere Real Estate/PSR Inc
Listing updated: June 9, 2026 at 11:13am
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2494441
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34027 1st Place S, Federal Way, WA 98003
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Federal Way is a seller's market.
Inventory is low and competition is high. Sellers have more negotiating power.
Offer insight: Many homes get multiple offers, some with waived contingencies.
List to sale price: The average home sells very close to list price.
Time on market: The average home goes pending in around 9 days.
$830,000 Sold
8 weeks ago
•Single Family
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
0.1 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
0.5 mi
Distance
Closed sales from MLS GRID / NWMLS within the past 6 months, matched on property type and within 1 mile. Comps approximate.
Want a deeper read on this market?
Ask a RexMont agentMarket data from MLS GRID / NWMLS · Updated Jun 2026
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.
