Listed by Taylor Wyman, Northmarq Multifamily, LLC
- Multi Family
- Type
- 1979
- Year built
- 17,999 sq ft
- Lot
- 0
- Days on market
About this property
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 $208K per unit with a cap rate of 6.7%, it presents an attractive basis.
Location & commute
Add a destination (work, gym, school) for directions and drive time.
Property details
Listing details
- Listing number
- #2590067
- Listed
- October 1, 2026
- Days on market
- 0
Unit & building
- Stories in building
- 3
- Units in building
- 6
Homeowners association
- HOA dues
- $1,016 monthly
Parking
- Covered spaces
- 9
- Total spaces
- 12
Views
- View
- Territorial
Construction
- Year built
- 1979
- Style
- 55 - 5-9 Units
- Structure
- Multi Family
- Roof
- CompositionTorch Down
Heating & cooling
- Heating
- Baseboard
- Cooling
- None
- Energy source
- Electric
Flooring
- Flooring
- VinylVinyl PlankCarpet
Lot
- Lot features
- Corner LotDead End StreetPaved
- Lot size
- 17,999 sq ft
Terms
- Terms offered
- CashConventional
Utilities
- Water
- Public
- Sewer
- Sewer Connected
Schools
- District
- Federal Way
- Elementary
- Panther Lake Elem
- Middle
- Federal Way Public A
- High
- Federal Way Snr High
What stands out to you?
Mark features you love or could do without. Saved on this device to tune what you see.
- Territorial
- Multi Family
- Composition
- Torch Down
- Baseboard
- None
- Electric
- Vinyl
- Vinyl Plank
- Carpet
- Corner Lot
- Dead End Street
Listing history
Listed
$1,250,000
October 1, 2026
Derived from current MLS listing fields. Full multi-cycle status history is on the roadmap.
Payment estimate
An estimate to help you plan, not a loan offer or financial advice.
Est. monthly
$8,295
- Principal & interest
- $6,321
- Property tax (est.)
- $958
- HOA dues
- $1,016
Assumes $250,000 down (20%), a $1,000,000 loan at 6.5% over 30 years. Property tax is an estimated figure, not MLS data (verify with the county assessor). Excludes insurance, PMI, and closing costs. Not a commitment to lend or financial advice.
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Based on information submitted to the MLS GRID as of October 1, 2026 at 3:45 PM PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.