226 Cedar Avenue South

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Address: 226 Cedar Ave S, North Bend, WA 98045, USA
Seattle & Northwest + Apartment Buildings
Created date: March 13, 2026
Date last updated: June 4, 2026
Price: $1,495,000Investment Analyzer NEW!
  • Seattle Commuter Market North Bend continues to attract residents seeking a balance between outdoor lifestyle and proximity to major employment centers in Seattle, Bellevue, and the Eastside technology corridor.
  • Lifestyle-Driven Rental Demand: The city’s location near major outdoor recreation destinations including Mount Si and Snoqualmie Pass makes it highly attractive to renters seeking access to hiking, skiing, and year-round outdoor activities.
  • Limited Multifamily Inventory: North Bend has a relatively small supply of multifamily housing compared to other Eastside markets, supporting consistent demand for available rental units.
  • Small-Community Living Appeal: The property benefits from a quiet residential setting within walking distance to downtown amenities and local parks, offering tenants a small-town lifestyle while remaining connected to regional job centers.
  • Value-Add Potential: Older multifamily properties in the area present opportunities for investors to improve units and potentially increase rental income over time through targeted upgrades and operational efficiencies.

Property Description

226 Cedar Ave S presents investors with the opportunity to acquire a well-located multifamily asset with multiple paths to value creation in the growing Snoqualmie Valley submarket of North Bend. Rental Upside Current rents appear to be positioned below achievable market levels for comparable units within the North Bend area. Incremental rent adjustments could increase revenue while maintaining affordability within the local market. Operational Efficiencies The property features individual heating and hot water systems, which can simplify expense management and reduce operating costs. Continued operational improvements and expense management may further enhance net operating income. Renovation Potential The property was constructed in 1967 and may benefit from selective interior upgrades over time. Renovations such as updated flooring, fixtures, appliances, and interior finishes could enhance tenant appeal and support higher rental rates. Lifestyle-Driven Rental Demand Demand for rental housing in North Bend continues to be supported by its proximity to Interstate 90, providing connectivity to employment centers throughout the Puget Sound region while offering residents access to nearby recreation destinations such as Mount Si and Snoqualmie Pass. Long-Term Market Fundamentals Limited multifamily supply within the North Bend submarket combined with continued population growth throughout East King County supports stable long-term rental demand.
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Broker Details

Nisha A Tomar
Nisha A Tomar

Lee & Associates Commercial Real Estate Services 253-238-2843

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Key Property Information

Listing Status: Unavailable
Listing Type: Call for offers
Property Types: Apartment Buildings
Price: $1,495,000
No. of Units: 8
Year Built: 1967
Lot Size: 0.33 Acres
Opportunity Zone: No
Price per unit: $186,875
Property Website Click Here
Address: 226 Cedar Avenue South, North Bend, WA 98045, USA
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