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About this home
A quiet and serene 4-plex multi-family home centrally located in Federal Way with convenient transportation. Extremely accessible to bus, light rail, shopping center, and dining, with easy access to I-5, Hwy 99 and the King County library located right across the street. Great opportunity to own an income-generating 4-plex featuring an estimate Cap rate around 5%. All units are managed by on-site property management so it's easy and low maintenance to manage.
West Campus, located between I-5 and Dash Point State Park, is a residential and commercial Federal Way neighborhood with wooded greenbelts and mid-century apartment clusters. The neighborhood’s energy concentrates around the Pacific Highway S and S 320th St corridor, where strip plazas, international eateries, and everyday services line the roadway. The Commons at Federal Way sets a retail anchor, while the Federal Way Performing Arts & Event Center adds a cultural counterpoint. Streets shift quickly from busy arterials to cul-de-sacs with split-levels and townhome pockets. Trail access and shoreline air shape a weekend rhythm. The landscape reads as practical, green, and coastal-leaning.
Provided by Walk Score and Local Logic
Offer insights
27 S 342nd Pl · $1,200,000
$1.19M and above
75% chance or better to win
Why $1.19M+ is a strong offer
SALE-TO-LIST
95.0%
Most homes are selling 5% below list price.
LIST PRICE
$1,200,000
Median list price in this area is $1,133,320. (6% lower than this home)
About offer insights
Property details
Interior
Exterior
Finance
Interior features
Fireplace in at least one unit
Poured concrete foundation
Bedrooms
Units include 2-bedroom layouts
Bathrooms
Units include 1-bathroom layouts
Kitchen
Kitchen appliances included in units (standard apartment kitchens)
Laundry & utility
Washer/dryer in units
Heating & cooling
Baseboard heating
Radiant heating
No central air
Exterior features
Wood exterior
Playground on site or in the community
Home design
Residential income property configured as a quadruplex
Two-story building
Constructed in 2000
Parking
Four carport spaces
Two uncovered parking spaces
Construction
Wood construction
Composition roof
Poured concrete foundation
Good overall condition
Utilities
Electric energy source
Public water (Lakehaven)
Sewer connected (Lakehaven)
Power provided by PSE
HOA & community
Homeowners association with a monthly fee of $678
Financial info
Gross scheduled income: $91,200
Total monthly income reported: $7,600
Net operating income: $55,000
Total expenses: $18,604
Insurance expense: $3,000
Other expense: $7,000
Example unit actual rent: $1,900 for one 900 sq ft unit
Other
Listing terms: Cash or conventional financing
Electricity and solar
View estimated energy costs and solar savings for this home
Federal Way buyers should compare lot sizes, views, and shopping access in Twin Lakes, Marine Hills, and Dash Point. Sellers should highlight their home’s strengths and price against nearby comparable sales. Explore Dash Point State Park and Dumas...
Situated right along the Puget Sound, Federal Way is best known for its blend of natural beauty, fun attractions, and rich local culture! Locals love it for its vibrant dining scene and convenient location right between Seattle and Tacoma!