4-Unit Quadplex
For Sale
$1,200,000
120 339TH, Federal Way, WA 98003
On-site management covers all four units, supporting streamlined day-to-day operations.
Property Size3,600 SF
Price / SF$333.33
Days on Market83
Property Features for 120 339TH
General Information
Standard status
Active
Size
3,600 SF
Property subtype
Multi-family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
4
Building Details
Year Built
1979
Listing Agency:
Q Star Seattle Corporation
Listed By:
Pearl Lee
(425) 772-7659
Source:
Century21northhomes
Added: Jul 27
Changed: Oct 16
Last Checked: Oct 16 at 8:44AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Q Star Seattle Corporation
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 4-unit quadplex in Federal Way provides 3,600 square feet of multifamily housing space. Built in 1979, the property has on-site management serving all units, creating an established operating structure for the residential asset. The property is positioned at 120 339TH, with bus service and light rail nearby, along with shopping and dining options. I-5 and Hwy 99 provide regional transportation access, while the King County library is directly across the street. The property is offered as an income-producing asset with an estimated cap rate around 5%.
Key Highlights
- 4‑unit quadplex with 3,600 SF of multifamily housing space
- Built in 1979
- On‑site property management serves all units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,719
Cap Rate
5.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,214,380
$1.2M
Cap Rate 7%
$867,414
$867.4K
Cap Rate 9%
$674,656
$674.7K
Market Conditions
NOI Build-Up for 3,600 SF
Gross rent
$91.8K $25.50/SF
− Vacancy
−$5.1K −$1.41/SF
EGI
$86.7K $24.09/SF
− OpEx
−$26.0K −$7.23/SF
NOI
$60.7K $16.87/SF
Area
King County, WA
Vacancy
5.51%
Lease Rate
$25.50 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,214,380
Cap Rate 7%
$867,414
Cap Rate 9%
$674,656
Alternative Uses
Best Use
Multifamily LT 5
$867.4K
$759.0K – $1.01M
NOI $60,719 @ 7.0% cap · market cap 5.06%
Second Best
Apartment 5plus
$799.4K
$699.4K – $932.6K
NOI $55,955 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,932 @ 7.0% cap · market cap 8.41%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
274
Businesses Nearby
Explore this area
Business Placement
Demographics for 98003, WA
51,751
Population
20,380
Households
2.5
Avg Household Size
37
Median Age
28%
College-Educated
88%
High-School Grad
11.5 sq mi
ZIP Area
4,500
Density / Sq Mi
$70,800
Median Household Income
$39,497
Median Earnings
$1,650
Median Rent
$428,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - On-site management covers all four units, supporting streamlined day-to-day operations.
Where is this quadplex located?
The property is located at 120 339TH Federal Way, WA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 4‑unit quadplex with 3,600 SF of multifamily housing space; Built in 1979; On‑site property management serves all units
