Property Details
119 N Indiana Avenue
Granite Falls, WA 98252
$1,225,000
Active
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Property Overview
Excellent Investment Opportunity in Downtown Granite Falls! Located in the desirable Pilchuck Village community, this fully leased tri-plex offers a strong addition to any investment portfolio. With consistent occupancy and stable rental history, this property provides immediate income potential in a growing market. Each unit features a functional and appealing layout with an open-concept main floor that includes the kitchen, dining area, living space, laundry, and a convenient half bath. Upstairs, tenants enjoy a built-in desk area ideal for home office, schoolwork, or hobbies, along with a spacious primary bedroom with ensuite bath and two additional bedrooms and bath. The property has a new roof, and HOA dues help protect your investment by covering exterior maintenance such as paint, siding, landscaping, pest control, and gutters, helping reduce long-term ownership responsibilities. Each unit includes a single-car garage plus an additional parking space, with guest parking available for visitors. With its convenient downtown Granite Falls location, strong tenant appeal, and low exterior maintenance requirements, this property presents an excellent long-term hold opportunity. It may also be a great fit for investors completing a 1031 exchange from a single-family rental into multifamily, and it qualifies for DSCR financing with 25% down.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
Snohomish
Neighborhood
Granite Falls
Listed
Mar 13, 2026
Original Price
$1,250,000
Financial Summary
Cap Rate
4.06%
Net Operating Income
$50,806
Gross Scheduled Income
$89,820
Gross Rent Multiplier
13.92
Total Expenses
$19,507
Building & Use
Building Sq Ft
3,655
Leasable Area
3,655 sqft
Total Units
3
Zoning
Multi-Family
Possible Use
Multi-Family
Lot Size
1.05 acres
Year Built
2008
Exterior & Lot
Lot Size
1.05 sqft
Year Built
2008
Garage
3 spaces
Exterior Materials
Cement Plank
Sewer
Sewer Connected
Water Source
Public
Lot Features
Corner Lot, Dead End Street, Paved
Exterior Features
Cement Planked
Location
City
Granite Falls
County
Snohomish
Coordinates
48.08440, -121.96521
Additional Information
Tax Year
2025
Annual Taxes
$9,274
Possession
Array
Based on information submitted to the MLS GRID as of May 14, 2026 7:45 PM. 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, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
