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
Steve Fischer
  • Phone:(425) 830-2254
  • Email:sfischer@northmarq.com
  • Office Name:Northmarq Multifamily LLC
  • Office Phone:(425) 454-8699
  • Office Website:
Taylor Wyman
Showing Instructions
  • Call Listing AgentNo
  • Use DiscretionNo
Price Information
  • Listing Price$ 1,345,000.0
  • $/SF$ 224.2
  • $/Unit$ 1,345,000.0
  • Listing StatusAvailable
  • Days on Market187
  • Asset ClassMulti-Family
  • Terms
Investment Information
  • Investment Type
  • Investment PropYes
  • Gross Income0
  • Vacancy Factor %0.00%
  • Operating Expenses0
  • Net Operating Income0
  • CAP Rate 6.31 %
Detail Listing Information
  • Min Total SF0
  • Max Total SF0
  • Lease Rate Low$ 00.0
  • Lease Rate High$ 00.0
  • Heat Source
  • Total Units
Utilities
  • Water
  • Electricity
  • Storm Sewer
Retail Information
  • SignageSignage on Building and Freestanding
  • Anchor
Building Information
  • 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 Type
  • Property TypeMulti-Family
  • Office Type
  • InvestmentYes
  • Building Class
Location
  • CountyKing
  • VicinityPanther Lake
  • Location Description
  • Second Address
  • Cross Street
  • Market AreaFederal Way
  • Tax ID #1322020360
  • Additional Parcels
  • ZoningRM2400
Parking Information
  • # Covered Spaces6
  • # Uncovered Spaces-6
  • Total Parking Spots0
  • Parking Ratio
Construction
  • Year Built1979
  • Year Renovated
  • Completion Date
  • Roof TypeComposition
  • Construction TypeFramed

Panther Lake Apartments

Public Comments

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

Listing Images