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$895,000
2567010 MLS ⋅ ACTIVE Status
Turnkey fourplex offering strong rental potential in the well-established Campus View community. All four two-bedroom, one-bath residences feature comfortable, functional floor plans with fireplaces, private balconies or patios, and the convenience of in-unit washers and dryers. Each unit includes a reserved covered parking space, plus guest parking for visitors.Professional on-site management simplifies ownership by handling the day-to-day operations, making this an attractive opportunity for both experienced investors and those entering the multifamily market. Ideally situated near shopping, restaurants, parks, and major commuter routes including I-5, Highway 99, and Highway 18, this property offers a desirable location that appeals to tenants. A quality investment with stable income potential in a convenient South King County location.

177 S 340th Street, Federal Way

Listing courtesy of Windermere RE/Capitol Hill,Inc.

$900,000
2549078 MLS ⋅ SOLD Status

34002 1st Circle S, Federal Way

Listing courtesy of Skyline Properties, Inc.. Selling Office: John L. Scott, Inc.

$799,000
2535696 MLS ⋅ ACTIVE Status
Complete exterior paint completed in summer of 2024. Professionally managed quadplex abuts Panther lake and walking trails. Fully occupied units, One bed/one bath units for easy rentability, All units have Washer/dryer, fireplaces, DW, balcony or deck. 4 Covered carport may tandem park and 3 uncovered guest spots. Community sports court and play area,. Very close to all shopping needs of big box and boutique shops. I-5, Hwy 18 and 99 access. Federal Way Light rail completed December 2025. Maybe a good property for owner occupied for easy finance. MLS 2501184 is also listed next door to make it a great assemblage portfolio.

34025 1st Place S, Federal Way

Listing courtesy of Skyline Properties, Inc..

$799,000
2501184 MLS ⋅ ACTIVE Status
Complete exterior paint completed in summer of 2024. Professionally managed quadplex abuts Panther lake and walking trails. Fully occupied units, One bed/one bath Loft style townhome units and two bedroom /one bath lower units for easy rentability, All units have Washer/dryer, fireplaces, DW, balcony or deck. 4 Covered carport may tandem park and 3 uncovered guest spots. Community sports court and play area,.Very close to all shopping needs of big box and boutique shops. I-5, Hwy 18 and 99 access. Federal Way Light rail completed December 2025. Maybe a good property for owner occupied for easy finance

34019 1st Circle S, Federal Way

Listing courtesy of Skyline Properties, Inc..

$899,950
2500500 MLS ⋅ ACTIVE Status
Well-maintained fourplex in Federal Way. Each unit features 2 bedrooms, 1 bathroom, a functional floor plan, fireplace, private balcony or patio, and in-unit washer and dryer, providing comfort and convenience for tenants.Property includes dedicated covered parking for each unit, additional uncovered parking spaces, and guest parking. Two units have been recently renovated, offering updated interiors and potential for increased rental income.The property has a strong rental history with long-term tenants, supporting stable and consistent income. On-site professional management is in place, and HOA rules do not allow for self-management.Conveniently located near shopping, dining, schools, and parks, with easy access to I-5 and Hwy 18, making it a desirable location for tenants and commuters alike. Ideal for investors seeking stable cash flow, low deferred maintenance, and long-term appreciation.

34214 1st Place S, Federal Way

Listing courtesy of RSVP Brokers ERA.

$825,000
2494441 MLS ⋅ SOLD Status
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!

34027 1st Place S, Federal Way

Listing courtesy of Windermere Real Estate/PSR Inc. Selling Office: RE/MAX Northwest.

$925,000
2491971 MLS ⋅ ACTIVE Status
Great investment opportunity in Federal Way. Well-maintained four-plex featuring four spacious 2-bedroom, 1-bath units, each offering 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.

34120 1st Place S, Federal Way

Listing courtesy of Real Broker LLC.

$990,000
2478223 MLS ⋅ ACTIVE Status
This well-maintained 4-plex in the desirable Campus View community presents an excellent investment opportunity. Each of the four spacious units features 2 bedrooms, 1.5 bathrooms, 976 sq. ft. of living space, a cozy fireplace, and an in-unit washer and dryer. Residents enjoy the convenience of a dedicated covered parking spot, plus additional visitor parking. Professionally managed for a hassle-free ownership experience, this property is centrally located near shopping, dining, and parks, with easy access to I-5, Hwy 99, and Hwy 18.

34005 1 St Circle S, Federal Way

Listing courtesy of 360 Pacific.

$859,000
2451216 MLS ⋅ SOLD Status
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.

23 S 342nd Place, Federal Way

Listing courtesy of Skyline Properties, Inc.. Selling Office: HomeSmart Real Estate Assoc.

$830,000
2435784 MLS ⋅ SOLD Status
A perfect opportunity for first-time or hands-off investors! This 100% turnkey 4-plex is located in the sought-after Panther Lake area, where the community boasts a vacancy rate under 2% and is professionally managed with community-maintained grounds.Each of the four units features 2 bedrooms / 1 bathroom, fireplace, in-unit washer and dryer. 4 carport parking plus additional visitor parking. Newer exterior paint (2024). Tenants reimburse for utilities. Professional property management is in place at just 5%, making this a true hands-free investment. Don’t miss this rare chance to own a low-maintenance, income-producing property in a thriving rental market.

115 S 339th Circle, Federal Way

Listing courtesy of Skyline Properties, Inc.. Selling Office: Dove Realty, Inc..

$955,000
2418356 MLS ⋅ SOLD Status
Fantastic 4-Plex Investment Opportunity! This well-maintained 4-plex offers four spacious units, each featuring 2 bedrooms and 1.75 baths. Two units include private patios while the other two enjoy a deck overlooking the wooded backyard, providing both privacy and charm. Recent updates throughout include refreshed kitchens, modern flooring, updated lighting, and newer appliances—creating inviting, move-in-ready spaces for tenants. The property is ideally located near major freeways and shopping, ensuring easy commutes and everyday convenience. With a blend of updates and a serene setting, this 4-plex is a rare find for both investors and owner-occupants alike. Build your real estate portfolio here.

28625 S 16th Avenue, Federal Way

Listing courtesy of Berkshire Hathaway HS NW. Selling Office: Berkshire Hathaway HS NW.

$1,050,000
2397419 MLS ⋅ SOLD Status
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.

23 S 338th Place, Federal Way

Listing courtesy of Windermere RE West Campus Inc. Selling Office: Windermere Prof Partners.

$845,000
2324479 MLS ⋅ SOLD Status
Complete exterior paint and punch list from inspection completed in mid 2024. Professionally managed quadplex abuts Panther lake and walking trails. Fully occupied units, New PT stairs and rails, New deck and railings in two units. One bed/one bath units for easy rentability, All units have Washer/dryer, fireplaces, DW, balcony or deck facing greenbelt. 4 Covered carport may tandem park and 2 guest spots. Very close to all shopping needs of big box and boutique shops. I-5, Hwy 18 and 99 access. Light rail in forecast. Community sports court and play area, Maybe a good property for owner occupied for easy finance.

19 S 338th Place, Federal Way

Listing courtesy of Skyline Properties, Inc.. Selling Office: Fathom Realty WA LLC.

$930,000
2253028 MLS ⋅ SOLD Status
Amazing investment opportunity with this 4-plex property in the Campus View community. This property features four spacious units, each with a great layout,offering 2 bedrooms,1 full bathroom, fireplace, in-unit washer and dryer, and either a balcony or deck. Units come with a dedicated covered parking spot, plus additional visitor parking. This property is maintained and professionally managed, with the management company handling all details w/owner input, providing hassle-free ownership. Centrally located, and close to shopping, dining, and local parks. Commuters will appreciate the close impropriety to I-5, HWY 99 and HWY 18. Great addition to your investment portfolio, or the start of one!

181 S 340th Street, Federal Way

Listing courtesy of John L. Scott Snohomish. Selling Office: John L. Scott, Inc..

$1,030,000
2241322 MLS ⋅ SOLD Status
Attention investors! Rare 4-plex investment property in a great community -Campus View. Features 4 spacious units w/functional layout, each w/2 beds, 1 full bath, cozy FP, in-unit W/D, balcony or deck. Dedicated covered parking spot for each unit + visitor parking. Long lasting Tile Roof. Prime location close to schools, library, shopping, restaurants, hospital, Panther Lake Park, Celebration Park, West Hylebos State Park, Costco, Winco & more!. Quick & Easy access to upcoming Light Rail, I-5, Hwy 99 & Hwy 18 for commuters. Fully Maintained & Professionally Managed (Management company handles everything w/owner input) makes the convenience of owning this 4plex a great option for investors near or far! Add to your investment portfolio today!

34242 1st Place S, Federal Way

Listing courtesy of Redfin. Selling Office: John L. Scott, Inc..

$1,015,000
2167193 MLS ⋅ SOLD Status
Attention investors! This well-maintained Panther Lake 4plex in Federal Way features 4 spacious 2-story units, each with 2 bedrooms, 1.5 baths, a cozy fireplace, dishwasher & in-unit washer/dryer. Exterior freshly painted in November! Dedicated covered parking spot for each unit + visitor parking. Patios/balconies with a woodsy overlook, great for nature lovers! Nearby community play area & sports court. Easy access to upcoming Light Rail. Convenient to shopping, dining, schools & parks. Close to I-5 and Hwy 18. All units are occupied w/good rental history (3 units updated & 1 newly updated). On-site professional mgmt makes the convenience of owning this 4plex a great option for investors near or far! Add to your investment portfolio today!

24 S 341st Place, Federal Way

Listing courtesy of Windermere RE West Campus Inc. Selling Office: The Agency Northwest.

$1,100,000
2170933 MLS ⋅ SOLD Status
Opportunity To Own a Turn Key 4-Plex in Panther Lake Complex - Renovations 2023. 2 Bed, 1 Bath. 2 Updated Units (Sep 2023), 2 Units With Prior Updates. Each Unit Features a Kitchen, Living Room, Washer/Dryer, & Cozy Fireplace. New Roof (Sep 2023) & Exterior Paint. 3 Occupied Units, 1 Advertised for Rent. Ideal for Owner Occupancy with Low Rates. On-Site Management (5%). HOA Covers Water, Sewer, Garbage, and Common Area Maintenance. 4 Covered Parking & 2 Guest Spots. Nearby Community Play Area & Sports Court. Easy Access to Upcoming Light Rail. Close to Schools, Shopping, and Restaurants. This is a perfect investment for a first-time investor or a hands-off investor. Interior Showings with Signed PSA. List of Capital improvements Provided.

34 S 342nd Place, Federal Way

Listing courtesy of Real Estate 2000 Inc.. Selling Office: Keller Williams Seattle Metro.

$785,500
2170515 MLS ⋅ SOLD Status
Federal Way Four Plex: 4 1BR units, with fireplace, washer/dryer, galley kitchen, deck and parking. The Panther Lake complex is a collection of 4 plex units all run by the Panther Lake HOA and property management. Great rental income, the vacancy rate is very low, management fee is only 5% and the HOA takes care of the grounds, utility and general maintenance. Freshly painted exterior, 50 year roof. Unit A totally renovated from studs out! All units filled with contented tenants. The charm is that each unit looks out over the woods towards the lake. Cool shade! Great location with easy access. Profit and loss statement available! Photos available of the new unit.

34013 1st Circle S, Federal Way

Listing courtesy of COMPASS. Selling Office: eXp Realty.

$909,500
2131380 MLS ⋅ SOLD Status
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.

34214 1st Place S, Federal Way

Listing courtesy of Hampton West Real Estate. Selling Office: RSVP Real Estate ERA Powered.

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.
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