226 Cedar Ave S, North Bend, WA 98045
- $1,572,000
- 5,950
- SqFt
Listing courtesy of Lee & Associates Commercial RE. Selling Office: Windermere R.E./Snohomish.
- Sold Price
- $1,572,000
- List Price
- $1,495,000
- Status
- SOLD
- MLS#
- 2492677
- Closing Date
- May 28, 2026
- Days on Market
- 20
- Style
- 55 - 5-9 Units
- Finished SqFt
- 5,950
- Area Total SqFt
- 5950
- Annual Tax Ammount
- 15407
- Lot Size (sq ft)
- 14,567
- Sewer
- Sewer Connected
Property Description
8-unit stabilized multifamily property centrally located in the thriving Snoqualmie Valley market of North Bend with beautiful views of Mount Si. 100% occupied and just steps from downtown North Bend, offering walkable access to restaurants, retail, parks, and local amenities. Tucked away on a quiet cul-de-sac bordering a city park, the property provides a peaceful residential setting and features 16 on-site parking spaces plus additional street parking. The building includes a recently replaced roof (approximately 2 years old) and presents a value-add opportunity through cosmetic upgrades and operational efficiencies. Residents enjoy quick access to I-90, allowing convenient commuting to Seattle, Bellevue, and the Eastside technology corridor, while benefiting from North Bend’s highly desirable outdoor lifestyle near Mount Si and Snoqualmie Pass. Zoned DC (Downtown Commercial), offering potential future development upside.
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Additional Information
- List Date
- 2026-05-08 00:00:00
- Community
- Downtown - North Bend
- Net Operating Income
- $91,835
- Gross Adjusted Income
- $153,290
- Gross Scheduled Income
- $152,400
- Total Monthly Income
- $19,161
- Insurance Expenses
- $4,000
- Water/Sewer/Garbage Expenses
- $21,984
- Gross Rent Multiplier
- 9.75
- Total Expenses
- $61,455
- Cap Rate
- 6.14
- Vacancy Rate
- 5
- Total Number of Units
- 6
- Unit Name
- 226
- Potential Terms
- Cash, Conventional, Owner Will Carry, Rehab Loan
- Year Built
- 1967
- View
- Mountains, Territorial
- Roof
- Flat
- Other Expenses
- 20064
- Energy Source
- Electric
- School District
- Snoqualmie Valley
- Elementary School
- North Bend Elem
- Middle School
- Twin Falls Mid
- High School
- Mount Si High
- Total Monthly Income
- $19,161
- Gross Scheduled Income
- $152,400
- Vacancy Rate
- 5
- Gross Adjusted Income
- $153,290
- Tax Year
- 2025
- Insurance Expense
- $4,000
- W/S/G Expenses
- $21,984
- Total Expenses
- $61,455
- Net Operating Income
- $91,835
- Gross Rent Multiplier
- 9.75
- Cap Rate
- 6.14
Based on information submitted to the MLS GRID as of . 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.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.