34005 1st Circle S, Federal Way, WA 98003
- $959,500
- 4,036
- SqFt
Listing Broker: Better Properties N. Proctor; Leo Zhuk; 253-906-8970; LeoZhuk@gmail.com
- List Price
- $959,500
- Status
- ACTIVE
- MLS#
- 2593882
- Days on Market
- 224
- Style
- 54 - 4-Plex
- Building Condition
- Good
- Finished SqFt
- 4,036
- Area Total SqFt
- 4036
- Annual Tax Ammount
- 10346
- Lot Size (sq ft)
- 10,449
- Sewer
- Sewer Connected
Property Description
Rarely available townhome-style 4-plex in the professionally managed Panther Lake community, offering some of the largest floor plans in the complex. Each two-level unit features 2 bedrooms, 1.5 baths, and approx 1,009 SF per builder/management. The main floor offers a living room with wood-burning fireplace, separate dining room, kitchen, half bath, and in-unit washer/dryer; upstairs are two bedrooms with double closets and a full bath. Two private decks per unit. Current rents $1,600-$1,850 with upside toward the $1,895 market rate for this plan. Four carport spaces plus additional parking. HOA dues cover water, sewer, garbage, exterior maintenance, and grounds, and tenants reimburse $158/month per unit for water/sewer/garbage plus pay their own electric. Required on-site management (5%) makes ownership hands-off for local or out-of-area investors. Owner-occupants may qualify for FHA/VA financing. Community playground and sport court. Minutes to I-5, Hwy 18, shopping, and the Federal Way light rail station. Priced below the most recent sale of an identical floor plan in the community. Seller intends to complete a 1031 exchange; buyer to cooperate at no cost or liability to buyer.
Additional Information
- List Date
- 2026-03-03 00:37:11
- Community
- Panther Lake
- Net Operating Income
- $58,711
- Gross Adjusted Income
- $85,295
- Gross Scheduled Income
- $82,200
- Total Monthly Income
- $7,482
- Insurance Expenses
- $4,200
- Gross Rent Multiplier
- 11.68
- Total Expenses
- $26,584
- Cap Rate
- 6.12
- Vacancy Rate
- 5
- Total Number of Units
- 4
- Unit Name
- 34005
- Potential Terms
- Cash, Conventional, FHA, VA Loan
- Year Built
- 1979
- Roof
- Composition
- Site Features
- Cable TV, Deck, High Speed Internet, Patio
- Other Expenses
- 12038
- 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
- $7,482
- Gross Scheduled Income
- $82,200
- Vacancy Rate
- 5
- Gross Adjusted Income
- $85,295
- Tax Year
- 2026
- Insurance Expense
- $4,200
- Total Expenses
- $26,584
- Net Operating Income
- $58,711
- Gross Rent Multiplier
- 11.68
- Cap Rate
- 6.12
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.