A nine-unit mixed-use apartment property in Wenatchee, Washington has sold for $1.85 million, marking a quick execution for a recently built asset near Wenatchee Valley College. Kidder Mathews Vice President Max Frame of the Simon Anderson Multifamily Team, based in the firm’s Seattle headquarters, represented the seller in the transaction.
The property, located at 475 N. Elliott Avenue, totals 6,444 square feet and was completed in 2015. It is configured with eight residential units and one commercial space, combining multifamily housing with street-level commercial use. The building sits directly across the street from Wenatchee Valley College and is within walking distance of downtown Wenatchee, positioning it to serve both student and neighborhood demand.
The asset was described as turn-key, reflecting its relatively recent construction and ready-to-occupy condition. Its mix of residential and commercial space, along with proximity to educational and downtown amenities, was cited as a key factor in investor interest. The location is intended to benefit from consistent foot traffic and accessibility to local services and employment centers in Wenatchee’s core.
Marketing for the property moved quickly. According to Kidder Mathews, the asset went under contract after just six days on the market. The buyer submitted an all-cash offer with no financing contingency, signaling a straightforward capital structure and reducing execution risk for the seller. The parties then completed a 10-day contingency period before closing the transaction 28 days after going under contract.
Frame noted that the speed and certainty of the sale highlighted strong demand for well-located, turn-key multifamily properties in Wenatchee. He pointed specifically to the property’s location near Wenatchee Valley College and downtown, as well as its combination of residential units and commercial space, as drivers of investor appeal. The transaction underscores ongoing investor interest in smaller mixed-use multifamily assets in secondary markets where stable demand generators are present.
