Turnkey Investment in a great community. Features 4 occupied spacious units w/functional layouts. 2 units w/2 beds, 1 full bath and 2 units w/1 bed, 1 full bath with a loft and vaulted ceilings - highly desirable units. All units have a cozy FP, in-unit W/D, balcony or deck. Dedicated covered parking spots for each unit + visitor parking. New roof in 2024, New siding in 2024, new exterior and interior paint in 2024. Prime location close to schools, library, shopping, restaurants, hospital, Panther Lake Park, Celebration Park, West Hylebos State Park, Redondo beach, Costco & Winco. Community sports courts, play areas and amenities. Easy access to I-5, Hwy 99, Hwy 18 and upcoming light rail for commuters. Great cash flowing property.
Active
Listed by:
Michael Fladseth,
Skyline Properties, Inc.
Price cut: $10K (12/2)
$859,000
23 S 342nd Place, Federal Way, WA 98003
6beds
4baths
2,712sqft
Est.:
Quadruplex
Built in 1979
-- sqft lot
$853,700 Zestimate®
$317/sqft
$677/mo HOA
What's special
Visitor parkingSpacious unitsFunctional layoutsBalcony or deckVaulted ceilingsDedicated covered parking spots
- 42 days |
- 648 |
- 34 |
Zillow last checked: 8 hours ago
Listing updated: December 02, 2025 at 09:13am
Listed by:
Michael Fladseth,
Skyline Properties, Inc.
Source: NWMLS,MLS#: 2451216
Tour with a local agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 6
- Bathrooms: 4
Heating
- Baseboard, Electric
Cooling
- None
Features
- Flooring: Vinyl, Carpet
- Has fireplace: No
Interior area
- Total structure area: 2,712
- Total interior livable area: 2,712 sqft
Property
Parking
- Total spaces: 8
- Parking features: Open
- Carport spaces: 4
- Uncovered spaces: 4
Features
- Has view: Yes
- View description: Territorial
Lot
- Size: 0.3 Acres
- Features: Adjacent to Public Land, Cul-De-Sac, Curbs, Dead End Street, Paved, Sidewalk, Athletic Court, Cable TV, Deck, High Speed Internet, Patio
Details
- Parcel number: 1322020580
- Zoning description: Multi-Family,Jurisdiction: City
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Quadruplex
Materials
- Wood Siding
- Foundation: Poured Concrete
- Roof: Composition
Condition
- Good
- Year built: 1979
Utilities & green energy
- Electric: Company: Puget Sound Energy
- Sewer: Sewer Connected, Company: Lakehaven
- Water: Public, Company: Lakehaven
Community & HOA
Community
- Subdivision: Panther Lake
HOA
- HOA fee: $677 monthly
Location
- Region: Federal Way
Financial & listing details
- Price per square foot: $317/sqft
- Tax assessed value: $723,000
- Annual tax amount: $7,870
- Date on market: 10/29/2025
- Cumulative days on market: 45 days
- Listing terms: Cash Out,Conventional,FHA,VA Loan
Estimated market value
$853,700
$811,000 - $896,000
$2,826/mo
Price history
Price history
| Date | Event | Price |
|---|---|---|
| 12/2/2025 | Price change | $859,000-1.2%$317/sqft |
Source:  NWMLS #2451216 Report a problem | ||
| 10/31/2025 | Listed for sale | $869,000$320/sqft |
Source: NWMLS #2451216 Report a problem | ||
Public tax history
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $7,870 -2.7% | $723,000 -1.8% |
| 2023 | $8,091 +12% | $736,000 +0.8% |
| 2022 | $7,221 +0.1% | $730,000 +15.1% |
Find assessor info on the county website
BuyAbility℠ payment
Est. payment
$5,762/mo
Principal & interest
$4197
HOA Fees
$677
Other costs
$888
Climate risks
Neighborhood: West Campus
Nearby schools
GreatSchools rating
- 4/10Panther Lake Elementary SchoolGrades: PK-5Distance: 0.1 mi
- 4/10Illahee Middle SchoolGrades: 5-8Distance: 1.2 mi
- 3/10Todd Beamer High SchoolGrades: 9-12Distance: 1.6 mi
- Loading
- Loading
