34214 1st Place S, Federal Way, WA 98003
- $909,500
- 3,056
- SqFt
Listing courtesy of Hampton West Real Estate. Selling Office: RSVP Real Estate ERA Powered.
- Sold Price
- $909,500
- List Price
- $909,500
- Status
- SOLD
- MLS#
- 2131380
- Closing Date
- Jul 01, 2024
- Days on Market
- 307
- Style
- 54 - 4-Plex
- Finished SqFt
- 3,056
- Area Total SqFt
- 3056
- Annual Tax Ammount
- 8330
- Lot Size (sq ft)
- 10,276
- Sewer
- Sewer Connected
Property Description
Below market rents with potential to increase at the end of the year. Don’t miss this opportunity to own a well-maintained 4plex in Federal Way. This property features four spacious units, each with 2 bedrooms, 1 bathroom, a fireplace, a balcony or patio, and in unit washer and dryer. Dedicated covered parking for each unit plus 2 guest spaces. Great location convenient to shopping, dining, schools, and parks. Good access to I-5 and Hwy 18 for commuters. All units are currently occupied with great rental history, long term tenants that generate a stable income. On site professional management makes this is a turn-key investment that you don’t want to miss! HOA rules do not allow for self management.
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Additional Information
- List Date
- 2023-08-29 00:00:00
- Community
- Panther Lake
- Net Operating Income
- $47,817
- Gross Adjusted Income
- $71,928
- Gross Scheduled Income
- $71,928
- Total Monthly Income
- $6,199
- Insurance Expenses
- $2,780
- Water/Sewer/Garbage Expenses
- $6,264
- Gross Rent Multiplier
- 13.2
- Total Expenses
- $27,512
- Cap Rate
- 5.2
- Total Number of Units
- 4
- Unit Name
- 34214
- Potential Terms
- Cash Out, Conventional
- Year Built
- 1977
- Roof
- Composition
- Site Features
- Athletic Court, Deck, Patio
- Electric Expenses
- 76
- Other Expenses
- 10062
- Energy Source
- Electric
- School District
- Federal Way
- Elementary School
- Buyer To Verify
- Middle School
- Buyer To Verify
- High School
- Buyer To Verify
- Total Monthly Income
- $6,199
- Gross Scheduled Income
- $71,928
- Gross Adjusted Income
- $71,928
- Tax Year
- 2022
- Insurance Expense
- $2,780
- W/S/G Expenses
- $6,264
- Total Expenses
- $27,512
- Net Operating Income
- $47,817
- Gross Rent Multiplier
- 13.2
- Cap Rate
- 5.2
Based on information submitted to the MLS GRID as of . 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.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.