34007 1st Circle S, Federal Way, WA 98003

Federal Way
Local realty services provided by:Better Homes and Gardens Real Estate Pacific Commons
Listed by: taylor wyman, steve fischer
Office: northmarq multifamily, llc.
MLS#:2449226
Source:NWMLS
34007 1st Circle S,Federal Way, WA 98003
$1,345,000
  • - Beds
  • - Baths
  • - sq. ft.
  • Multi-family
  • Active

Price summary

  • Price:$1,345,000
  • Monthly HOA dues:$1,017

About this home

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.

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Home facts

  • Year built:1979
  • Listing ID #:2449226
  • Updated:May 16, 2026 at 12:24 AM

Rooms and interior

  • Flooring:Carpet, Vinyl Floor, Vinyl Plank

Heating and cooling

  • Heating:Baseboard

Structure and exterior

  • Roof:Composition, Torch Down
  • Year built:1979
  • Lot area:0.41 Acres
  • Lot Features:Corner, Dead-end Street, Paved, Sidewalk
  • Construction Materials:Cement Planked
  • Exterior Features:Athletic Court

Utilities

  • Water:Public
  • Sewer:Sewer Connected

Finances and disclosures

  • Price:$1,345,000
  • Tax amount:$13,767 (2025)

Features and amenities

  • Amenities:Athletic Court

Parking

  • Total parking spaces:9
  • Parking description:Uncovered Space(s) : 3
  • Carport spaces:6
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