Property Details
226 Cedar Ave S
North Bend, WA 98045
$1,495,000
Pending
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Property Overview
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.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Pending
County
King
Neighborhood
Downtown – North Bend
Listed
Mar 13, 2026
Financial Summary
Cap Rate
6.14%
Net Operating Income
$91,835
Gross Scheduled Income
$152,400
Gross Rent Multiplier
9.75
Total Expenses
$61,455
Vacancy Rate
5.0%
Building & Use
Building Sq Ft
5,950
Leasable Area
5,950 sqft
Total Units
6
Zoning
Business,Commercial,Multi-Family,Retail
Possible Use
Business, Commercial, Multi-Family, Retail
Lot Size
14,566 sqft
Year Built
1967
Exterior & Lot
Lot Size
0.33 sqft
Year Built
1967
Exterior Materials
Wood
Sewer
Sewer Connected
Water Source
Public
Lot Features
Adjacent to Public Land, Cul-De-Sac, Curbs, Paved, Value In Land
Exterior Features
Wood, Wood Products
Location
City
North Bend
County
King
Coordinates
47.49332, -121.78560
Additional Information
Tax Year
2025
Annual Taxes
$15,407
Possession
Array
Based on information submitted to the MLS GRID as of May 9, 2026 12:30 AM. 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.
