Fully Leased Triplex with
119 N Indiana Avenue Granite Falls, WA 98252
For Sale
$1,195,000
Tri-plex in Pilchuck Village with new roof, each unit featuring an open main level and an upstairs primary suite.
Property Size3,655 SF
Price / SF$326.95
Days on Market137
Property Features for 119 N Indiana Avenue
General Information
- Standard status
- Active
- Size
- 3,655 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 2008
Listing Agency:
Marketplace Sotheby's Intl Rty
(503) 793-3587
Listed By:
Randi Thompson
(503) 793-3587
Source:
Premierepropertygroup
Added: Mar 13
Changed: Jul 23
Last Checked: Jul 27 at 2:43AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marketplace Sotheby's Intl Rty
Investment Insights
Based on property information with market context.
This fully leased tri-plex in the Pilchuck Village community is designed as a three-unit residential income property. Each unit includes an open-concept main floor with a kitchen, dining area, living space, laundry, and a convenient half bath. Upstairs, tenants have a built-in desk area, a spacious primary bedroom with an ensuite bath, and two additional bedrooms and baths.
The property has a new roof, and HOA dues help cover exterior maintenance items including paint, siding, landscaping, pest control, and gutters. Each unit also includes a single-car garage plus an additional parking space, and there is guest parking available for visitors.
The combination of fully leased status and shared exterior-maintenance coverage is intended to support ongoing, hands-on ownership efficiency for long-term investors.
The property has a new roof, and HOA dues help cover exterior maintenance items including paint, siding, landscaping, pest control, and gutters. Each unit also includes a single-car garage plus an additional parking space, and there is guest parking available for visitors.
The combination of fully leased status and shared exterior-maintenance coverage is intended to support ongoing, hands-on ownership efficiency for long-term investors.
Key Highlights
- Fully leased tri‑plex in the Pilchuck Village community with 3 total stories/2 stories and building area of 3,655 SF
- Built in 2008 on a 1.0546‑acre corner lot on a dead‑end street with paved lot features and fenced site
- New roof and slab foundation; exterior amenities include a patio and cement planked exterior
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $92.1k | $25.20 |
| − Vacancy | −$5.1k | −$1.39 |
| EGI | $87.0k | $23.81 |
| − OpEx | −$26.1k | −$7.14 |
| NOI | $60.9k | $16.67 |
3,655 SF · lease $25.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$870.4K
$761.6K – $1.02M
NOI $60,928 @ 7.0% cap · market cap 5.10%
Second Best
Apartment 5plus
$781.0K
$683.4K – $911.2K
NOI $54,669 @ 7.0% cap · market cap 4.57%
Theoretical Best
Office A
$1.02M
$891.9K – $1.19M
NOI $71,352 @ 7.0% cap · market cap 5.97%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Tri-plex in Pilchuck Village with new roof, each unit featuring an open main level and an upstairs primary suite.
Where is this triplex located?
The property is located at 119 N Indiana Avenue Granite Falls, WA.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: Fully leased tri‑plex in the Pilchuck Village community with 3 total stories/2 stories and building area of 3,655 SF; Built in 2008 on a 1.0546‑acre corner lot on a dead‑end street with paved lot features and fenced site; New roof and slab foundation; exterior amenities include a patio and cement planked exterior
