21 South 338th Place
21 South 338th Place
Federal Way, WA 98003
$945,000
Last Sold Price
8
Beds
6
Baths
3,904 Sq. Ft.
$242 / Sq. Ft.
3,904
Sq. Ft.
$242
per Sq. Ft.
Sold 2/28/23
Sold 2/28/23
Listing provided courtesy of RE/MAX Eastside Brokers, Inc., Heaton Dainard, LLC
Description
Excellent investment opportunity in solid condition. Turnkey 4-plex in the Panther Lake complex with updated roof & double pane windows. Townhome style units with 2 beds/1.5 baths, kitchen, living room, washer/dryer, fireplace. Desirable greenbelt and park-like setting. Each of the 4 units has a yard, patio & second floor deck. All units are rented with room to increase rents to market value. Low historic vacancy rate. On site property mgmt in place for a 5% fee. HOA dues cover water, sewer, garbage,...Excellent investment opportunity in solid condition. Turnkey 4-plex in the Panther Lake complex with updated roof & double pane windows. Townhome style units with 2 beds/1.5 baths, kitchen, living room, washer/dryer, fireplace. Desirable greenbelt and park-like setting. Each of the 4 units has a yard, patio & second floor deck. All units are rented with room to increase rents to market value. Low historic vacancy rate. On site property mgmt in place for a 5% fee. HOA dues cover water, sewer, garbage, common area + exterior bldg maint. Covered parking per unit + add'l parking. Convenient access to new light rail coming soon. No sign, do not disturb tenants. Interior showing/insp with signed PSA. Community play area, sport court nearby.
- Listed by Sherry Sahlstrom • RE/MAX Eastside Brokers, Inc.
Property Details for 21 South 338th Place
Community Name
Panther Lake
School DistrictFederal Way
ViewTerritorial
Number of Assigned Spaces8
Total Covered Parking0
Entry Date07-28-2022
Energy SourceElectric,Wood
SewerSewer Connected
Location
Listing Courtesy of RE/MAX Eastside Brokers, Inc.![]()
Sold By Heaton Dainard, LLC
Add your commute
LISTING UPDATED: 02/28/2023 05:21 PM
Property Details for 21 South 338th Place
| Status | Sold |
|---|---|
| MLS # | 1975775 |
| Days on Market | 186 |
| Cumulative Days on Market | 186 |
| Taxes | $8,775 / year |
| HOA Fees | $678 / month |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1979 |
| Lot Size | 0.24 AC / 10,348 SF |
| County | King County |
Location
Listing Courtesy of RE/MAX Eastside Brokers, Inc.![]()
Sold By Heaton Dainard, LLC
Add your commute
Building Information for 21 South 338th Place
Stories2Residences4Year Built1979Building Size-Lot Size0.24 AC / 10,348 SF
Payment Calculator
$6,567 per month
30 year fixed, 7.25% Interest
Principal and Interest
$5,157
Property Taxes
$731
HOA Dues
$678
The Payment Calculator is for illustrative purposes only.
Property Information for 21 South 338th Place
Summary
Location and General Information
- Style: 54 - 4-Plex
- Site Features: Athletic Court, Deck, Patio, Sprinkler System
- Area: 110 - Dash Point/Federal Way
- Block: K
- Elementary School: Buyer To Verify
- Middle Or Junior School: Buyer To Verify
- High School: Buyer To Verify
- Effective Year Built Source: Public Records
- Directions: From I-5 South, exit at 142-B, go west on S 320th St. Left on 1st Ave S (turns into 1st Way S). Right on S 338th PL. Fourplex on Left. No keybox, no sign. Careful not to disturb tenants.
- Leased Items: None
- Property Sub Type: MULT
- View: Yes
- Waterfront: No
Taxes and HOA Information
- Tax Year: 2022
Parking
- Number of Carport Spaces: 4.0
- Carport: No
- Open Parking Spaces: 4.0
- Open Parking: Yes
Interior and Exterior Features
Interior Features
- Furnished: Unfurnished
- Floor Covering: Vinyl, Carpet
- Features: Wall to Wall Carpet
- Amenities: Playground,Thermal Windows
- Cooling: Yes
- Fireplace: No
- Heating: Yes
- FIRPTA: No
Exterior Features
- Exterior: Wood
- Roof: Cedar Shake, Flat
Property
Utilities
- Water Source: Public
- Water/Sewer/Garbage: 0
- Power Company: Puget Sound Energy
- Sewer Company: Lakehaven Water Sewer
- Water Company: Lakehaven Water Sewer
- Power Production Type: Electric, Wood
Property and Assessments
- New Construction YN: No
- Zoning Jurisdiction: City
- Foundation: Poured Concrete
- Zoning Class: Multi-Family
- Construction Methods: Standard Frame
- First Right Of Refusal: false
- Possible Use: Multi-Family
- Preliminary Title Ordered: Yes
- Senior Community: No
- Special Listing Conditions: None
- Year Built Effective: 1979
- Photos Count: 9
Lot Information
- Lot Details: Open Space, Paved
- Lot Number: 30
- Lot Size Source: Public Records
- Parcel Number Free Text: 1322020300
- Building Condition: Good
- Calculated Square Footage: 3904
- Structure Type: Quadruplex
- Square Footage Finished: 0
- Square Footage Unfinished: 0
- Building Area Total: 3904.0
- Building Area Units: Square Feet
- Property Type: Residential Income
- Elevation Units: Feet
- Irrigation Water Rights: No
- Green Energy Efficient: Thermal Windows
Multi Family
Building Details
- Number of Uncovered Spaces: 4
- Number of Stories in Building: 2
- Vacancy Rate: 1
- Number Of Units Total: 4
- Units Below Grade: false
- Units In Building Total: 4
Financing / Income and Expenses
- Electric Expense: $0
- Total Expenses: 18386
- Gross Adjusted Income: 75672
- Gross Rent Multiplier: 14.5
- Gross Scheduled Income: $75,900
- Insurance Expense: $1,477
- Net Operating Income: $52,938
- Other Expenses: $8,134
- Total Monthly Income: 6325
- Fuel Expense: $0
Unit 1
- Name Unit 1: A
- Washer/Dryer Unit 1: true
- Range/Oven Unit 1: true
- Refrigerator Unit 1: true
- Dishwasher Unit 1: true
- Square Feet Unit 1: 976
- Rent Unit 1: $1,675.00
- Bedrooms Unit 1: 2
- Fireplaces Unit 1: 1
- Bathrooms Unit 1: 2
Unit 2
- Name Unit 2: B
- Washer/Dryer Unit 2: true
- Range/Oven Unit 2: true
- Refrigerator Unit 2: true
- Dishwasher Unit 2: true
- Square Feet Unit 2: 976
- Rent Unit 2: $1,600.00
- Bedrooms Unit 2: 2
- Fireplaces Unit 2: 1
- Bathrooms Unit 2: 2
Unit 3
- Name Unit 3: C
- Washer/Dryer Unit 3: true
- Range/Oven Unit 3: true
- Refrigerator Unit 3: true
- Dishwasher Unit 3: true
- Square Feet Unit 3: 976
- Rent Unit 3: $1,550.00
- Bedrooms Unit 3: 2
- Fireplaces Unit 3: 1
- Bathrooms Unit 3: 2
Unit 4
- Name Unit 4: D
- Washer/Dryer Unit 4: true
- Range/Oven Unit 4: true
- Refrigerator Unit 4: true
- Dishwasher Unit 4: true
- Square Feet Unit 4: 976
- Rent Unit 4: $1,500.00
- Bedrooms Unit 4: 2
- Fireplaces Unit 4: 1
- Bathrooms Unit 4: 2
Rental
Rent Information
- Occupant Type: Tenant
- Leasable Area: 3904.0
- Leasable Area Units: Square Feet
Property History for 21 South 338th Place
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 21 South 338th Place
Taxable ValueLand$140,000Additions$722,000Total$862,000
Tax Record2022$8,495 ($708 / month)
Home Facts
Total Finished SqFt3,904 SqFtAbove Ground SqFt3,904 SqFtStories2Lot Size10,348 SqFtStyleMulti-Family Dwelling (2-4)Year Built1979Year Renovated2000ZoningRM2400CountyKINGAPN132202-0300Fireplace TypeHas Fireplace
Schools near 21 South 338th Place
This home is within Federal Way School District.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 5 | |||
| Public - | 5 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
Panther Lake Elementary School PublicPK to 5 | ||
Illahee Middle School Public5 to 8 | ||
Todd Beamer High School Public9 to 12 | ||
Gateway To College Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
Similar Homes
Sorry, we can't find any similar homes at this time. Please check back later.
Similar Sold Homes
Sorry, we can't find any similar sold homes at this time. Please check back later.
Homes for Sale near Federal Way
Neighborhoods
Cities
No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.
Listing Courtesy of RE/MAX Eastside Brokers, Inc.
Listing provided courtesy of NWMLS, RMLS or Yakima MLS. The information contained in this listing has not been verified by Compass or the MLS and should be verified by the buyer. The DOM value represents the number of days this listing has been Active on this website.