34007 1st Circle S, Federal Way, 98003
MLS® #: 2449226
Active, 160 Days on Market
Listing Office: Northmarq Multifamily, LLC
Last Update: 2026-04-12
0
Garages
160
Dom
0.41
Acres
1979
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.
Price & Status History
| Date | Details | Change |
|---|---|---|
| Date: | Details: Price Reduced from $1,395,000 to $1,345,000 |
Features of 34007 1st Circle S
| MLS® # | 2449226 |
|---|---|
| Price | $1,345,000 |
| Bathrooms | 0.00 |
| Acres | 0.41 |
| Year Built | 1979 |
| Type | Residential Income |
| Sub-Type | Multi Family |
| Status | Active |
Community Information
| Address | 34007 1st Circle S |
|---|---|
| Area | 110 - Dash Point/Federal Way |
| Subdivision | Panther Lake |
| City | Federal Way |
| County | King |
| State | WA |
| Zip Code | 98003 |
Amenities
| Parking Spaces | 9 |
|---|---|
| View | Territorial |
| Is Waterfront | No |
Interior
| Heating | Baseboard |
|---|---|
| Cooling | None |
| Fireplace | No |
| # of Stories | 3 |
Exterior
| Exterior Features | Cement Planked |
|---|---|
| Lot Description | Corner Lot, Dead End Street, Paved, Sidewalk |
| Foundation | Poured Concrete |
School Information
| District | Federal Way |
|---|
Additional Information
| Days on Market | 160 |
|---|---|
| Cumulative Days on Market | 160 |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
| Property Taxes | $13,767 |
| HOA Dues | 1016.7 |
Listing Details
| Office | Northmarq Multifamily, LLC |
|---|
Listing Map
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