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23 S 342nd Place Federal Way, WA $ 859,000
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$ 859,000 Get more info
23 S 342nd Place
$ 859,000
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23 S 342nd Place

Federal Way, WA, 98003
$ 859,000
Baths0.0 Sq 2,712

Monthly Estimate*

$ 5,359

Listed by Skyline Properties, Inc.
23 S 342nd Place, Federal Way, WA 98003 - Image 1
23 S 342nd Place, Federal Way, WA 98003 - Image 2
23 S 342nd Place, Federal Way, WA 98003 - Image 3
23 S 342nd Place, Federal Way, WA 98003 - Image 4
Studio

Multi-Family Home for sale in Federal Way, WA

for $859,000. This 2,712 square foot home was built in 1979 on a lot size of 0.2965.

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, Panther Lake Park, Celebration Park, West Hylebos State Park, 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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Multi-Family Pending

Price

$ 859,000

Bedrooms

Studio

Property Type

Multi-Family

Taxes

$ 7,870

Style

4-Plex

Lot Size

0.2965

Year Built

1979

Town/City

Federal Way

County/Region

King

MLS | Web ID

2451216
Features
General
Living Area 0
Sewer Sewer Connected
Heating Baseboard
Cooling None
Possession Closing
Roof Composition
HOA Fee 677
Year Built 1979
View Territorial
Property Subtype Multi Family
Tax Year 2025
Assoc Fee Paid Per Monthly
County King
Net Operating Income 60930
Insurance Expense 1770
New Construction N
Property Type Residential Income
HOA Y
Subdivision Name Panther Lake
Possible Use Multi-Family
Special Listing Conditions None
Status Pending Inspection
Directions GPS is correct.
City Federal Way
Senior Community Y/N N
High School District Federal Way
Zoning Description Multi-Family
Open Parking Spaces 4
Number Of Units Total 4
MLS Area 110 - Dash Point/Federal Way
Lot Size Units Square Feet
Lot Size Square Feet 12915
Carport Spaces 4
Carport Y/N N
Listing Terms Cash Out Conventional FHA VA Loan
Tax Annual Amount 7870
Electric Expense 0
Fuel Expense 0
Property Condition Good
Public Remarks 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 - highl
Leasable Area 2712
Structure Type Quadruplex
Building Area Units Square Feet
Standard Status Pending
Amenities Playground
Water Company Lakehaven
Units Below Grade false
Units In Building Total 4
Water Sewer Garbage 0
Property Style 54 - 4-Plex
Cap Rate 6.9
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Exterior
Exterior Amenities Wood
Lot Features Adjacent to Public Land Cul-De-Sac Curbs Dead End Street Paved Sidewalk
Water Source Public
Total Parking 8
Foundation Details Poured Concrete
Building Area Total 2712
Lot Size Acres 0.2965
Waterfront Y/N N
Covered Spaces 0
Irrigation Water Rights Y/N N
Site Features Athletic Court Cable TV Deck High Speed Internet Patio
Parking Uncovered Spaces 4
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Interior
Flooring Vinyl Carpet
Total Fireplaces 0
Total Stories 2
Air Conditioning Y/N N
Heating Y/N Y
Fireplace Y/N N
Power Production Type Electric
Baths Three Quarter Upper 0
Bedrooms Upper 0
Baths Half Upper 0
Baths Full Upper 0
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Internal Only
OriginalMLSID NWM2451216
Street Number 1 23
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* Excluded Features
List By
Scott Fladseth

Listing Agent

Skyline Properties, Inc.

Broker

Affordability Calculator

$6,015
Per Month
89%
11%
0%
Monthly Principal & Interest
$5,359
Monthly Property Taxes
$656
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
258885 Elementary School
257703 Middle School
Unknown High School High School
See complete school information
Pricing History
DatePricePrice ChangeDescription
12/2/2025$859,000 -1.15% Price Down
10/31/2025$869,000 Listed Price

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23 S 342nd Place, Federal Way, WA, 98003 is a Multi-Family Home for sale at $859,000 with 2,712 sqft and a lot size of 0.2965. 23 S 342nd Place is a studio with 0.0 baths and was built in 1979. The property's zip code is 98003 which is in Federal Way, WA

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