Property Details
316 S Granite Avenue
Granite Falls, WA 98252
$1,049,000
Pending Feasibility
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Property Overview
Prime four-plex located in the heart of Downtown Granite Falls. Grandfathered for multi-family use and zoned commercial, offering additional upside potential for future redevelopment or alternate commercial use. Fully stabilized with long-term tenants in place, providing immediate cash flow with upside through rental increases and utility bill-back opportunities. All four units feature efficient 2-bedroom, 1-bath layouts (each under 600 sq ft) and were updated in 2022. The property was completely re-roofed in 2022 with a 30-year roof. Additional features include onsite coin-operated laundry, generous city parking, a fully fenced lot, and five on-site storage units—one dedicated to each unit plus an additional unit for property management. Please do not disturb tenants.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Pending Feasibility
County
Snohomish
Neighborhood
Granite Falls
Listed
Jan 20, 2026
Original Price
$1,215,000
Financial Summary
Cap Rate
4.67%
Net Operating Income
$56,668
Gross Scheduled Income
$73,203
Gross Rent Multiplier
16.59
Total Expenses
$16,535
Building & Use
Building Sq Ft
2,261
Leasable Area
2,261 sqft
Total Units
4
Lot Size
5,227 sqft
Year Built
1934
Exterior & Lot
Lot Size
0.12 sqft
Year Built
1934
Exterior Materials
Metal/Vinyl
Sewer
Sewer Connected
Water Source
Public
Lot Features
Corner Lot, Curbs, Paved, Sidewalk
Exterior Features
Metal/Vinyl
Location
City
Granite Falls
County
Snohomish
Coordinates
48.08006, -121.96952
Additional Information
Tax Year
2025
Annual Taxes
$6,362
Possession
Array
Based on information submitted to the MLS GRID as of April 28, 2026 4:15 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.
