Four-Unit Quadplex with
For Sale
$990,000
34005 1 St Cir S, Federal Way, WA 98003
Each residence offers two bedrooms, one-and-a-half baths, laundry equipment, and a covered parking space.
Property Size3,904 SF
Price / SF$253.59
Days on Market79
Property Features for 34005 1 St Cir S
General Information
Standard status
Active
Size
3,904 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 2BR/1.5BA
Multifamily Units
4
Parking per Unit
1
Additional Details
Highway Access
Yes
Amenities
fireplace
in-unit washer/dryer
covered parking
visitor parking
Building Details
Year Built
1979
Buildings
1
Listing Agency:
360 Pacific
Listed By:
Ton N. Nguyen
(206) 850-0107
Source:
Robb4realestate
Added: Jul 27
Changed: Sep 30
Last Checked: Oct 13 at 1:32AM
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 360 Pacific
Investment Insights
Based on property information with market context.
This 1979-built quadplex contains four residences totaling 3,904 square feet. Each unit provides 976 square feet of living space with two bedrooms, one-and-a-half bathrooms, a fireplace, and an in-unit washer and dryer. Covered parking is assigned to each residence, with additional visitor parking available. Professional management is in place.
The property is in the Campus View community at 34005 1 St Cir S in Federal Way, Washington. Shopping, dining, and parks are nearby, with access to I-5, Hwy 99, and Hwy 18. The four-unit configuration and consistent floor plans provide a straightforward multifamily format.
The property is in the Campus View community at 34005 1 St Cir S in Federal Way, Washington. Shopping, dining, and parks are nearby, with access to I-5, Hwy 99, and Hwy 18. The four-unit configuration and consistent floor plans provide a straightforward multifamily format.
Key Highlights
- Four‑unit quadplex with 3,904 SF of total property size
- Each unit contains 976 sq. ft., two bedrooms, and 1.5 bathrooms
- Every residence includes a fireplace and in‑unit washer and dryer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,847
Cap Rate
6.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,316,940
$1.3M
Cap Rate 7%
$940,671
$940.7K
Cap Rate 9%
$731,633
$731.6K
Market Conditions
NOI Build-Up for 3,904 SF
Gross rent
$99.6K $25.50/SF
− Vacancy
−$5.5K −$1.41/SF
EGI
$94.1K $24.09/SF
− OpEx
−$28.2K −$7.23/SF
NOI
$65.8K $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%
$1,316,940
Cap Rate 7%
$940,671
Cap Rate 9%
$731,633
Alternative Uses
Best Use
Multifamily LT 5
$940.7K
$823.1K – $1.10M
NOI $65,847 @ 7.0% cap · market cap 6.65%
Second Best
Apartment 5plus
$866.9K
$758.5K – $1.01M
NOI $60,680 @ 7.0% cap · market cap 6.13%
Theoretical Best
Office A
$1.56M
$1.37M – $1.82M
NOI $109,456 @ 7.0% cap · market cap 11.06%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,440
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Each residence offers two bedrooms, one-and-a-half baths, laundry equipment, and a covered parking space.
Where is this quadplex located?
The property is located at 34005 1 St Cir S Federal Way, WA.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: Four‑unit quadplex with 3,904 SF of total property size; Each unit contains 976 sq. ft., two bedrooms, and 1.5 bathrooms; Every residence includes a fireplace and in‑unit washer and dryer
