Simon Anderson’s team at Kidder Mathews, known as the Max Frame team, recently completed two successful apartment sales in Spokane, Washington. The properties were sold to one buyer with Frame representing the owner.
The total sale price for both properties was $7,623,000. One of the properties included in this sale was Lincoln Place at 912 W Lincoln Place. This property achieved one of Spokane’s highest-ever price-per-door sales for value-add multifamily complexes and sold for $2,188,000. The other property included in this transaction was Coventry Estates located at 3131 S Cook Street. This 39-unit complex on Lower South Hill sold for $5,435000.
Frame stated that these transactions demonstrate a growing interest in Spokane’s multifamily market and specifically value-add opportunities within it. He also noted that favorable market conditions and a renewed focus on Eastern Washington have led to strong investor activity in the region.
According to Kidder Mathews’ Q4 2024 report on Eastern Washington Apartment Market Dynamics released earlier this week by Frame and his team members,the region is experiencing significant momentum.
This news has been shared by Connect CRE following its publication by Kidder Mathews about their successful arrangement of an apartment portfolio sale in Spokane.
