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Federal Way, WA Multifamily Homes & Duplexes for Sale

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  • 603 SW 307th St, Federal Way, WA 98023
    603 SW 307th St, Federal Way, WA 98023
    603 SW 307th St, Federal Way, WA 98023
    /35

    $549,950

    • 3 Beds
    • 2 Baths
    • 1,370 Sq Ft

    603 SW 307th St, Federal Way, WA 98023

    Welcome to this exceptional Federal Way home in the charming Mirror Lake neighborhood! Set on a spacious corner lot, this property features a detached garage and newly converted downstairs ADU-ideal for extended living, rental income, or multigenerational needs. Enjoy the benefits of being just moments from the local elementary school, making daily commutes a breeze. The expansive lot provides

    Rich Bezus John L. Scott, Inc

    603 SW 307th St, Federal Way, WA 98023
  • 23 S 342nd Place, Federal Way, WA 98003
    23 S 342nd Place, Federal Way, WA 98003
    23 S 342nd Place, Federal Way, WA 98003
    /4

    $869,000

    • 6 Beds
    • 4 Baths
    • 2,712 Sq Ft

    23 S 342nd Place, Federal Way, WA 98003

    Turnkey Investment in a great community. Features 4 occupied spacious units w/functional layouts. 2 units w/2 beds, 1 full bath and 2 units w/1 bed, 1 full bath with a loft and vaulted ceilings - highly desirable units. All units have a cozy FP, in-unit W/D, balcony or deck. Dedicated covered parking spots for each unit + visitor parking. New roof in 2024, New siding in 2024, new exterior and

    Michael Fladseth Skyline Properties, Inc.

    23 S 342nd Place, Federal Way, WA 98003
  • 34007 1st Cir S, Federal Way, WA 98003
    34007 1st Cir S, Federal Way, WA 98003
    34007 1st Cir S, Federal Way, WA 98003
    /13

    $1,395,000

    • 12 Beds
    • 6 Baths

    34007 1st Cir S, Federal Way, WA 98003

    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

    Taylor Wyman Northmarq Multifamily, LLC

    34007 1st Cir S, Federal Way, WA 98003
  • 115 S 339th Cir, Federal Way, WA 98003
    115 S 339th Cir, Federal Way, WA 98003
    115 S 339th Cir, Federal Way, WA 98003
    /35

    $899,000

    • 8 Beds
    • 4 Baths
    • 3,056 Sq Ft

    115 S 339th Cir, Federal Way, WA 98003

    A perfect opportunity for first-time or hands-off investors! This 100% turnkey 4-plex is located in the sought-after Panther Lake area, where the community boasts a vacancy rate under 2% and is professionally managed with community-maintained grounds.Each of the four units features 2 bedrooms / 1 bathroom, fireplace, in-unit washer and dryer. 4 carport parking plus additional visitor parking.

    Irwan Ngadisastra Skyline Properties, Inc.

    115 S 339th Cir, Federal Way, WA 98003
  • 4950 S 298th St, Federal Way, WA 98001
    4950 S 298th St, Federal Way, WA 98001
    4950 S 298th St, Federal Way, WA 98001
    /9

    $675,000 New Construction

    4950 S 298th St, Federal Way, WA 98001

    Prime Development Opportunity! Approved permits in hand for an 8-unit multifamily project featuring thoughtfully designed 1-bedroom, 1-bath units perfect for strong rental demand. Sale is for land only. Located in a thriving neighborhood with excellent access to amenities, transit, and major highways. Offering a flexible turnkey solution for developers or investors. This fully permitted project

    Vadim Polishchuk Skyline Properties, Inc.

    4950 S 298th St, Federal Way, WA 98001
  • 6215 29th St NE, Tacoma, WA 98422
    6215 29th St NE, Tacoma, WA 98422
    6215 29th St NE, Tacoma, WA 98422
    /25

    $1,250,000

    • 13 Beds
    • 6 Baths
    • 4,344 Sq Ft

    6215 29th St NE, Tacoma, WA 98422

    Prime investment opportunity in Northeast Tacoma's coveted Browns Point neighborhood! This fully stabilized triplex delivers strong cash flow with a 5.8% cap rate and three generously sized units. Recent renovations include luxury vinyl plank flooring, fresh interior and exterior paint, stainless steel appliances, in-unit washer/dryer, quartz countertops, and tile. Each unit features ground-level

    Gunnar Conley Upside Properties

    6215 29th St NE, Tacoma, WA 98422
Washington King County Federal Way

Multi-Family Homes & Duplexes for Sale in Federal Way, WA

Why Live in Federal Way

Federal Way's extensive park system includes Dash Point State Park with beach access and trails, the unique Pacific Bonsai Museum showcasing international bonsai collections, and the Rhododendron Species Botanical Garden housing one of the world's largest rhododendron collections. Residents enjoy water activities at Steel Lake Park's beach and swimming at the premier King County Aquatic Center. Wild Waves Theme and Water Park, the largest theme park in Washington, provides year-round entertainment. Local dining ranges from authentic Asian cuisine at Palace Korean BBQ and Tokyo-ya Ramen to classic American fare at Jimmy Mac's Roadhouse and Italian dishes at Mama Stortini's.

The Federal Way housing market includes diverse options across distinct neighborhoods. Single-family homes in Marine Hills have a median price of $850,000, while Twin Lakes homes have a median price of $647,000. The Federal Way City Center area has a median single-family home price of $279,000. Condominiums present more affordable options, with median prices of $240,000 for one-bedroom units and $301,000 for two-bedroom units. Townhomes have a median price of $349,000.

Property taxes in Federal Way reflect King County's effective rate of 0.84%, comparing favorably to nearby Tacoma's 0.94%. Washington state has no general income tax but applies a 7.0% tax on capital gains income. The combined sales tax rate is 9.43%.

Federal Way Public Academy, serving the Kitts Corner neighborhood, maintains an A minus rating for both middle and high school levels. The private Seabury School in Twin Lakes holds an A plus rating for elementary and middle school education. Commuters benefit from Sound Transit and King County Metro bus service, with a Link Light Rail extension opening in 2024. The city sits 25 miles south of Seattle and 8 miles north of Tacoma along Puget Sound.

Learn more about living in Federal Way

Home Trends in Federal Way, WA

On average, homes in Federal Way, WA sell after 36 days on the market compared to the national average of 53 days. The median sale price for homes in Federal Way, WA over the last 12 months is $600,000, consistent with the median home sale price over the previous 12 months.

Housing Trends

Median Sale Price
$600,000
Median Single Family Sale Price
$646,500
Median Townhouse Sale Price
$340,000
Median 2 Bedroom Sale Price
$290,000
Median 1 Bedroom Sale Price
$223,000
Average Price Per Sq Ft
$338
Number of Homes for Sale
100
Last 12 months Home Sales
759
Months of Supply
1.60
Median List Price
$615,000
Median Change From 1st List Price
0%
Median Home Sale Price YoY Change
0%

Popular Home Searches in Federal Way, WA

Buyers in Federal Way often look for wooded privacy, Puget Sound views, and homes within easy reach of Tacoma and Seattle.

How to Buy a Home How to Finance a Home How to Sell a Home

In Federal Way, there are currently 6 multi-family homes for sale, providing an appealing investment opportunity for buyers. With multi-family homes priced between $549,950 to $1,395,000, there's a range to accomodate every budget. As of November, 2025 the median home price in Federal Way is $615,000, while the average sale price is $593,847, offering insights into the local housing market. On average, multi-family homes spend 36 days listed before being sold. Multi-family homes include a variety of property types, from duplexes, triplexes, and fourplexes, to apartment complexes, all within a single building divided to accommodate multiple families living separately. These multi-family properties for sale offer investors the chance to generate rental income. Whether you're considering a duplex for a beginner investment or an apartment complex for a more substantial venture, there are investment properties available to meet your requirements. Explore the range of multi-family homes for sale in Federal Way, WA.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

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. Listing information is provided by the Northwest Multiple Listing Service (NWMLS). Property information is based on available data that may include MLS information, county records, and other sources. Listings marked with the 3 tree icon and provided by NWMLS. All properties are subject to prior sale or withdrawal. IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID. ©2025 NWMLS.
Based on information submitted to the MLS GRID

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