Marcus & Millichap arranged the sale of a 17-unit apartment portfolio located in Spokane, Washington for $2,555,000. Georgie Christensen-Riley and Joshua C. Reynolds of Marcus & Millichap’s Portland office marketed the property on behalf of the seller and secured a buyer with assistance from Joel Deis.
The three properties consist of 17 garden style apartments spread across two stories at 212-218 W 7th Ave., 45 E 8th Ave., both within walking distance to Providence Hospital in Spokane. Most units have been renovated with new floors, countertops, appliances and fixtures installed throughout each building which were built between 1956 – 1963 respectively.
The portfolio went under contract within three days after listing for 99% percent list price according to Marcus & Millichap who noted that the buyer intends to hold onto it long term as an investment opportunity .
