Snohomish County Duplex & 4-Plex Market: What the Last 47 Sales Tell Us

If you own a 2–4 unit property in Snohomish County, you might be wondering where the market stands, and whether this fall is a smart time to make a move.

We just pulled every 2–4 unit sale in Snohomish County from the last six months (Data from NWMLS, excluding portfolio outliers). Here’s what the data shows, and what it could mean for you as an owner.

Prices Are Holding Strong

The average sale price per unit came in at ~$420,000, with a median total sale price around $895,000. The average cost per square foot landed at ~$349, a clean, steady benchmark for this segment.

Notably, duplexes dominated the sales volume and set the pace on price. Triplexes, while less common, showed a clear per-door discount, averaging $292K/unit. That difference shows the value many buyers place on simplicity (fewer tenants, easier financing), even if it costs more on a per-unit basis.

Vacancy Isn’t Scaring Buyers — It’s Attracting Them

Out of the 47 sales, 30 were explicitly vacant at the time of listing. Just two were described as fully leased.

Why? Because today’s small multifamily buyers, especially first-timers and "house hackers", are often looking for vacancy. It gives them the flexibility to live in one unit and rent the others, which helps them qualify for better financing and offsets rising ownership costs.

This trend is helping push up pricing, even for properties that aren’t fully stabilized.

What It Means for You

• Buyers are still active, especially for buildings with a single vacancy

• The market is valuing 2–4 unit properties based on location and potential, not just lease terms or cap rate

• If you’ve owned your building more than 5 years, chances are your equity position is stronger than you think

Why Fall Is a Strategic Window

Most owners wait for spring. That’s when inventory floods the market and competition ramps up.

But right now:

• 1031 exchange buyers are actively hunting, trying to close before year-end

• Rates are easing, and buyer demand is quietly picking up

• Inventory is still light, which makes quality listings stand out more

Listing now means you could catch serious attention, without competing against the flood of spring sellers.

Want to Know What Your Building Could Sell For?

Reach out now for an honest, no-pressure valuation, just straight numbers based on what’s actually closing in the market right now.