MLS #2449226 / Listing provided by NWMLS .
$1,395,000
34007 1st Circle S
Federal Way,
WA
98003
Year Built
Panther Lake Apartments is a 6-unit building built in 1979, located in Federal Way. The property offers a true hands-off investment with professional management in place and HOA dues covering water, sewer, garbage, and landscaping. All units are 1,000 SF with two bedrooms, one bathroom, in-unit washer & dryers, wood-burning fireplaces, and covered parking. As part of a larger residential community, residents benefit from shared amenities including on-site management, a playground, and tennis courts. Located just 1.5 miles from I-5, the property offers convenient access to Tacoma, Seattle, and the broader Puget Sound region. Priced at $233K per unit with a cap rate north of 6%, it presents an attractive basis.
Disclaimer: The information contained in this listing has not been verified by Hawkins-Poe Real Estate Services and should be verified by the buyer.
Bedrooms
- Upper Level Bedrooms: 0
Fireplaces
- Total Fireplaces: 0
Heating & Cooling
- Heating: Yes
- Cooling: No
Parking
- Parking Total: 9
- Uncovered Parking Spaces: 3
- Open Parking Spaces: 3
Structure
- Roof: Composition, Torch Down
- Exterior Features: Cement Planked
- Foundation: Poured Concrete
Lot Details
- Lot Features: Corner Lot, Dead End Street, Paved, Sidewalk
- Acres: 0.4132
- Foundation: Poured Concrete
Schools
- High School District: Federal Way
Lot Details
- Lot Features: Corner Lot, Dead End Street, Paved, Sidewalk
- Acres: 0.4132
- Foundation: Poured Concrete
Power
- Energy Source: Electric
Water, Sewer, and Garbage
- Sewer: Sewer Connected
- Water Source: Public
- Water, Sewer, and Garbage: 0
Debbie Burk
Broker | REALTOR®
Send Debbie Burk an email