23 S 338th Place, Federal Way, WA 98003
- $1,050,000
- 3,904
- SqFt
Listing courtesy of Windermere RE West Campus Inc. Selling Office: Windermere Prof Partners.
- Sold Price
- $1,050,000
- List Price
- $1,044,995
- Status
- SOLD
- MLS#
- 2397419
- Closing Date
- Sep 03, 2025
- Days on Market
- 35
- Style
- 54 - 4-Plex
- Building Condition
- Good
- Finished SqFt
- 3,904
- Area Total SqFt
- 3904
- Annual Tax Ammount
- 9482
- Internet Provider
- Xfinity
- Lot Size (sq ft)
- 12,274
- Sewer
- Sewer Connected
Property Description
Excellent investment opportunity! This spacious 4-plex offers 3,904 rentable sq ft and strong income potential. Each unit is 2 bedroom, 1.5 baths and 3 units have been updated with fresh paint and carpet. Units provide comfortable living space, making it ideal for both long-term tenants and short-term rentals. Located in a desirable area with easy access to amenities, transit and schools. This property is perfect for savvy investors looking to grow their portfolio. Don’t miss your chance to own a high-demand multi-unit in a prime location just minutes from new Sound Transit light rail and all the services you can imagine.
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Additional Information
- List Date
- 2025-07-30 00:00:00
- Community
- Federal Way
- Net Operating Income
- $58,683
- Gross Adjusted Income
- $82,080
- Gross Scheduled Income
- $86,400
- Total Monthly Income
- $7,200
- Insurance Expenses
- $1,676
- Gross Rent Multiplier
- 11.67
- Total Expenses
- $21,129
- Cap Rate
- 5.8
- Vacancy Rate
- 5
- Total Number of Units
- 4
- Unit Name
- 23
- Potential Terms
- Cash Out, Conventional
- Year Built
- 1979
- Roof
- Composition
- Site Features
- Cable TV, Deck, High Speed Internet
- Other Expenses
- 9970
- Energy Source
- Electric
- School District
- Federal Way
- Elementary School
- Panther Lake Elem
- Middle School
- Illahee Jnr High
- High School
- Todd Beamer High
- Total Monthly Income
- $7,200
- Gross Scheduled Income
- $86,400
- Vacancy Rate
- 5
- Gross Adjusted Income
- $82,080
- Tax Year
- 2024
- Insurance Expense
- $1,676
- Total Expenses
- $21,129
- Net Operating Income
- $58,683
- Gross Rent Multiplier
- 11.67
- Cap Rate
- 5.8
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.