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Federal Way,WA 98003
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Subdivision Panther Lake
MLS Listing ID 2449226
Style 55 - 5-9 Units
Bedrooms 12
HOA Fees $1,016/mo
Year Built 1979
Annual Tax Amount $13,767
Lot Size 0.413 Acres
Property Sub-Type Multi Family
Property Description
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.
Location
State WA
County King
Area 110 - Dash Point/Federal Way
Interior
Flooring Vinyl,Vinyl Plank,Carpet
Fireplace false
Exterior
Exterior Feature Cement Planked
Amenities Available Athletic Court
View Y/N Yes
View Territorial
Roof Type Composition,Torch Down
Building
Lot Description Corner Lot,Dead End Street,Paved,Sidewalk
Sewer Sewer Connected
Water Public
New Construction No
Schools
School District Federal Way
Others
Senior Community No
Acceptable Financing Cash Out,Conventional
Listing Terms Cash Out,Conventional