From Everett or Monroe drive to the town of Gold Bar. Turn left at the sign for Wallace Falls State Park. Follow more signs to the park headquarters and trailhead. A 7-mile loop trail leading to the falls provides a view of the 265-foot waterfall which is very popular with day hikers.
Disclaimer: Wallace Falls is incredibly popular with locals and visitors alike. It is highly recommended to visit Wallace Falls Monday - Thursday, if at all possible. High visitation is causing parking and litter/sanitary issues. Please respect the 40+ no parking signs leading to the parking lot and be sure to Leave No Trace, so future visitors have a beautifully natural experience.