34007 1st Circle S
Federal Way WA 98003
Panther Lake Apartments
34007 1st Circle S Federal Way WA 98003
Listing #: 704510 | Status: Available | Last Modified: 4/17/2026 |
For Sale
- Phone:(425) 830-2254
- Email:sfischer@northmarq.com
- Office Name:Northmarq Multifamily LLC
- Office Phone:(425) 454-8699
- Office Website:
- Agent Phone:(425) 577-8481
- Agent Email:twyman@northmarq.com
- Call Listing AgentNo
- Use DiscretionNo
- Listing Price$ 1,345,000.0
- $/SF$ 224.2
- $/Unit$ 1,345,000.0
- Listing StatusAvailable
- Days on Market187
- Asset ClassMulti-Family
- Terms
- Investment Type
- Investment PropYes
- Gross Income0
- Vacancy Factor %0.00%
- Operating Expenses0
- Net Operating Income0
- CAP Rate 6.31 %
- Min Total SF0
- Max Total SF0
- Lease Rate Low$ 00.0
- Lease Rate High$ 00.0
- Heat Source
- Total Units
- Water
- Electricity
- Storm Sewer
- SignageSignage on Building and Freestanding
- Anchor
- Building StatusExisting
- # of Buildings1
- # of Floors3
- # of Units6
- # of Elevators0
- Clearance Height Min
- Clearance Height Max
- Bay Depth
- Total Building SF5400
- Net Rentable Area6000
- Total Office SF
- Largest Contiguous SF
- Lot SF784036440
- Acres17999.0
- Property TypeMulti-Family
- Office Type
- InvestmentYes
- Building Class
- CountyKing
- VicinityPanther Lake
- Location Description
- Second Address
- Cross Street
- Market AreaFederal Way
- Tax ID #1322020360
- Additional Parcels
- ZoningRM2400
- # Covered Spaces6
- # Uncovered Spaces-6
- Total Parking Spots0
- Parking Ratio
- Year Built1979
- Year Renovated
- Completion Date
- Roof TypeComposition
- Construction TypeFramed
Panther Lake Apartments
Renovated Units: 3 of 6 units are fully renovated, with one being turned, and 2 remaining classic. In-Unit Washer & Dryer: All units are equipped with in-unit laundry. Hands Free Investment: Community has in place professional management and HOA. Monthly HOA dues include water, sewer, garbage, landscaping and common area maintenance. Large Community: Part of a larger community with on-site management, on-site maintenance, playground, tennis courts, and other community amenities. Exterior Renovation: New exterior paint and new exterior windows and sliders. Well Located: Only 1.5 miles from I5 allowing residents convenient access to Tacoma (11 mi), Seattle (25mi), and the rest of the Puget Sound Region. Attractive Basis: Listed above a 6% cap rate for $233,000 per unit and $233 per sq














