23 S 342nd Place, Federal Way, WA 98003
- $859,000
- 2,712
- SqFt
Listing courtesy of Skyline Properties, Inc.. Selling Office: HomeSmart Real Estate Assoc.
- Sold Price
- $859,000
- List Price
- $859,000
- Status
- SOLD
- MLS#
- 2451216
- Closing Date
- Jan 21, 2026
- Days on Market
- 52
- Style
- 54 - 4-Plex
- Building Condition
- Good
- Finished SqFt
- 2,712
- Area Total SqFt
- 2712
- Annual Tax Ammount
- 7870
- Lot Size (sq ft)
- 12,915
- Sewer
- Sewer Connected
Property Description
Turnkey Investment in a great community. Features 4 occupied spacious units w/functional layouts. 2 units w/2 beds, 1 full bath and 2 units w/1 bed, 1 full bath with a loft and vaulted ceilings - highly desirable units. All units have a cozy FP, in-unit W/D, balcony or deck. Dedicated covered parking spots for each unit + visitor parking. New roof in 2024, New siding in 2024, new exterior and interior paint in 2024. Prime location close to schools, library, shopping, restaurants, hospital, Redondo beach, Costco & Winco. Community sports courts, play areas and amenities. Easy access to I-5, Hwy 99, Hwy 18 and upcoming light rail for commuters. Great cash flowing property.
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Additional Information
- List Date
- 2025-11-30 00:00:00
- Community
- Panther Lake
- Net Operating Income
- $60,930
- Gross Adjusted Income
- $72,691
- Gross Scheduled Income
- $74,940
- Total Monthly Income
- $6,245
- Insurance Expenses
- $1,770
- Gross Rent Multiplier
- 11.59
- Total Expenses
- $9,640
- Cap Rate
- 6.9
- Vacancy Rate
- 3
- Total Number of Units
- 4
- Unit Name
- 23 S
- Potential Terms
- Cash, Conventional, FHA, VA Loan
- Year Built
- 1979
- View
- Territorial
- Roof
- Composition
- Site Features
- Athletic Court, Cable TV, Deck, High Speed Internet, Patio
- Energy Source
- Electric
- School District
- Federal Way
- Total Monthly Income
- $6,245
- Gross Scheduled Income
- $74,940
- Vacancy Rate
- 3
- Gross Adjusted Income
- $72,691
- Tax Year
- 2025
- Insurance Expense
- $1,770
- Total Expenses
- $9,640
- Net Operating Income
- $60,930
- Gross Rent Multiplier
- 11.59
- Cap Rate
- 6.9
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.