Four-Unit Quadplex with On-Site
For Sale
$1,200,000
27 342ND, Federal Way, WA 98003
1979 multifamily property near transit, retail, dining, and major regional routes.
Property Size3,600 SF
Price / SF$333.33
Days on Market75
Property Features for 27 342ND
General Information
Standard status
Active
Size
3,600 SF
Property subtype
Multi-family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Cap Rate
5%
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 31
Changed: Oct 13
Last Checked: Oct 12 at 8:37PM
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
Investment Insights
Based on property information with market context.
This 3,600-square-foot quadplex contains four residential units and was built in 1979. On-site property management oversees the units, providing an established management arrangement for the property.
The property is in Federal Way with access to bus service, light rail, shopping, dining, I-5, and Hwy 99. The King County library is located directly across the street. An estimated cap rate around 5% is also reported for the asset.
The property is in Federal Way with access to bus service, light rail, shopping, dining, I-5, and Hwy 99. The King County library is located directly across the street. An estimated cap rate around 5% is also reported for the asset.
Key Highlights
- Four‑unit quadplex totaling 3,600 square feet
- 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
465
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - 1979 multifamily property near transit, retail, dining, and major regional routes.
Where is this quadplex located?
The property is located at 27 342ND 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: Four‑unit quadplex totaling 3,600 square feet; Built in 1979; On‑site property management serves all units
