Panther Lake Homes with 54 - 4-Plex Style

Welcome to Panther Lake, a hidden gem nestled in the heart of Federal Way, Washington. This charming neighborhood is characterized by its serene environment, lush greenery, and the picturesque Panther Lake, which offers a tranquil escape from the hustle and bustle of city life. Residents enjoy a perfect blend of suburban comfort and outdoor adventure, with ample opportunities for hiking, fishing, and picnicking just steps from their front doors.

The community is known for its friendly atmosphere and welcoming spirit, making it an ideal place for families, young professionals, and retirees alike. With a variety of parks and recreational facilities, including walking trails and playgrounds, Panther Lake fosters an active lifestyle while promoting a strong sense of community.

One of the standout features of Panther Lake is its diverse housing options, particularly the charming 4-plex style homes that dot the neighborhood. These well-designed residences offer a unique blend of affordability and modern living, making them perfect for those seeking a cozy yet spacious environment. Each unit typically boasts open floor plans, ample natural light, and private outdoor spaces, allowing residents to enjoy the beauty of the surrounding nature.

The strategic location of Panther Lake provides easy access to major highways, making commutes to Seattle and Tacoma a breeze. With a variety of shopping, dining, and entertainment options nearby, residents can enjoy the best of both worlds—peaceful living with the excitement of urban amenities just a short drive away. Discover your dream home in Panther Lake and experience the vibrant lifestyle this enchanting neighborhood has to offer!

Newest Panther Lake Homes with 54 - 4-Plex Style

$799,000

2535696 MLS ⋅ ACTIVE Status

Complete exterior paint completed in summer of 2024. Professionally managed quadplex abuts Panther lake and walking trails. Fully occupied units, One bed/one bath units for easy rentability, All units have Washer/dryer, fireplaces, DW, balcony or deck. 4 Covered carport may tandem park and 3 uncovered guest spots. Community sports court and play area,. Very close to all shopping needs of big box and boutique shops. I-5, Hwy 18 and 99 access. Federal Way Light rail completed December 2025. Maybe a good property for owner occupied for easy finance. MLS 2501184 is also listed next door to make it a great assemblage portfolio.

34025 1st Place S, Federal Way

Listing courtesy of Skyline Properties, Inc..

$799,000

2501184 MLS ⋅ ACTIVE Status

Complete exterior paint completed in summer of 2024. Professionally managed quadplex abuts Panther lake and walking trails. Fully occupied units, One bed/one bath Loft style townhome units and two bedroom /one bath lower units for easy rentability, All units have Washer/dryer, fireplaces, DW, balcony or deck. 4 Covered carport may tandem park and 3 uncovered guest spots. Community sports court and play area,.Very close to all shopping needs of big box and boutique shops. I-5, Hwy 18 and 99 access. Federal Way Light rail completed December 2025. Maybe a good property for owner occupied for easy finance

34019 1st Circle S, Federal Way

Listing courtesy of Skyline Properties, Inc..

$899,950

2500500 MLS ⋅ ACTIVE Status

Well-maintained fourplex in Federal Way. Each unit features 2 bedrooms, 1 bathroom, a functional floor plan, fireplace, private balcony or patio, and in-unit washer and dryer, providing comfort and convenience for tenants.Property includes dedicated covered parking for each unit, additional uncovered parking spaces, and guest parking. Two units have been recently renovated, offering updated interiors and potential for increased rental income.The property has a strong rental history with long-term tenants, supporting stable and consistent income. On-site professional management is in place, and HOA rules do not allow for self-management.Conveniently located near shopping, dining, schools, and parks, with easy access to I-5 and Hwy 18, making it a desirable location for tenants and commuters alike. Ideal for investors seeking stable cash flow, low deferred maintenance, and long-term appreciation.

34214 1st Place S, Federal Way

Listing courtesy of RSVP Brokers ERA.

$989,000

2491971 MLS ⋅ ACTIVE Status

Great investment opportunity in Federal Way. Well-maintained four-plex featuring four spacious 2-bedroom, 1-bath units, each offering approximately 1,000 square feet of comfortable living space. Functional layouts, generous unit sizes, and consistent rental demand support strong long-term performance. Property currently offers a cap rate of over 6%, making it an attractive addition to an investment portfolio. Significant capital improvement completed with a new tile roof installed in 2022, providing durability and reducing future maintenance concerns. Conveniently located near major commuting routes, shopping, dining, and everyday amenities. Large unit sizes, solid income potential, and key updates make this a compelling multi-family investment opportunity in a strong rental market. Excellent opportunity for investors seeking stable cash flow and long-term value.

34120 1st Place S, Federal Way

Listing courtesy of Real Broker LLC.

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