About this home

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.

Exterior features

WoodWood Products

Schools

Elementary

Panther Lake Elem

Middle

Illahee Jnr High

High

Todd Beamer High

Property details

Heating: Baseboard
Cooling: None
Flooring: Vinyl, Carpet
View: Territorial
Lot: Cul-De-Sac, Dead End Street
Water source: Public
Sewer: Sewer Connected

Costs

Annual taxes: $8,984 (2025)
HOA dues: $375 / monthly

Estimate your monthly payment

$5,669/mo

Principal & interest: $4,546
Property taxes: $749
HOA dues: $375

Down payment (20%) $179,800 Interest rate (%) Loan term (years)

Loan amount $719,200

Estimate only — excludes homeowner's insurance and PMI. Rates shown are not a quote. Talk to us to connect with a lender.

Location

Federal Way, WA 98003

Approximate location. Contact us to confirm the exact address.

Listing courtesy of Real Broker LLC— Lindsay Jackman.Listing data courtesy of the Northwest Multiple Listing Service (NWMLS). Information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change, or withdrawal.

Interested in this home?

Request a private tour or ask a question — a local agent will respond personally.