Apartment Complex in Spokane Trades Hands
Osmun Apartments, a 27-unit multifamily property located at 1814 and 1818 W 1st Avenue in Spokane’s historic Brownes Addition, has sold for $2.7 million.
Built in 1908, Osmun Apartments has been well-maintained while still offering value-add upside for the buyer. The property consists of 27 apartment units and is situated in one of Spokane’s neighborhoods, known for its walkability, historic architecture, and proximity to downtown.
Vice President Max Frame of the Simon | Anderson Multifamily Team at Kidder Mathews represented the seller in an off-market transaction. “This sale reflects the ongoing demand for well-located multifamily assets in Spokane,” said Frame. “Osmun Apartments’ classic character, stable operations, and value-add potential made it an appealing opportunity for both residents and investors.”
According to a recent report by Kidder, the Eastern Washington apartment market saw a pickup in activity, with overall pricing remaining strong driven by continued demand and aggressive pricing for 1980s and newer assets.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout