The Tamarack apartment community in Wenatchee, Washington, has changed hands in a multifamily sale that highlights investor appetite for well-located, smaller-scale assets. The 23-unit property, located at 211 N. Delaware Avenue just steps from downtown Wenatchee, sold for $3.25 million.
The garden-style community totals 21,400 square feet and is positioned as a value-add opportunity in what is described as a highly competitive local multifamily market. According to the brokerage team, the offering attracted strong interest from investors and went under contract only three days after it was brought to market.
Based on the reported sale price, the transaction equates to approximately $141,304 per unit. While detailed business plans for the buyer were not disclosed, the property is presented as a maintained, income-producing asset with additional upside potential through value-add strategies.
Kidder Mathews Vice President Max Frame, of the Simon | Anderson Multifamily Team, represented the seller, Dan Dahl, in the transaction. Frame noted that Tamarack had been thoughtfully maintained over many years, which provided purchasers with an existing, stabilized foundation while still offering room to enhance performance over time. That combination, along with the propertys proximity to downtown Wenatchee, was cited as a key driver of investor interest.
The transaction marks the first change of ownership for Tamarack in 19 years, underscoring the long-term hold profile of the prior owner and the relatively infrequent trading of similar assets in the immediate area. The reported level of demand and speed to contract suggest that investors are actively seeking multifamily opportunities in Wenatchee, particularly assets that pair in-place operations with the potential for incremental improvements.
Neither the identity of the buyer nor any planned capital program was disclosed, and no additional details were provided on financing terms or future repositioning strategies. However, the combination of a multi-decade hold period, downtown-adjacent location, and value-add positioning frames Tamarack as a notable benchmark for recent multifamily pricing and investor interest in the Wenatchee market.
