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CBRE Represents Seller In $25.5M Sale Of Village On Broadway Spokane Valley Multifamily

Property Image
SOLD
$25,500,000

Washington

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MultiFamily
Sold 07/21/2025
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Property Image
SOLD

CBRE Represents Seller In $25.5M Sale Of Village On Broadway Spokane Valley Multifamily

12623 East Broadway Avenue

See Similar Deals
MultiFamily
Sold 07/21/2025
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Summary

WASHINGTON
Asset Type:MultiFamily
Transaction Type:Sale

The property asset involved in the transaction is a multi-family apartment complex located at 12623 East Broadway Avenue in Spokane Valley, WA. The asset was sold for $25,500,000 and consists of 148 units, resulting in a price per unit of $172,297. Built in 1996, the complex features in-unit washers and dryers, a dog park, and various community amenities.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $25,500,000
  • Units: 148
  • Price Per Unit: $172,297
  • Sale Date: 07/21/2025
  • Market: Spokane Valley, WA

The brokers involved in the transaction are Josh McDonald, Joe Nydahl, and Jordan Louie, who represented the undisclosed seller through CBRE. This transaction highlights their role in facilitating the sale of the Village on Broadway apartment complex.

Players

Joe Nydahl
13 deals$666.3M volume
BROKER

Josh McDonald
CBRE
12 deals$596.3M volume
BROKER

Jordan Louie
CBRE
6 deals$314.5M volume(206) 971-7007
BROKER

CBRE
BROKERAGE

Details

SOLD
IMAGE: 07/21/2025 ADDRESS: 12623 East Broadway Avenue MARKET: Spokane Valley, WA ASSET TYPE: MultiFamily BROKERS: Josh McDonald, Joe Nydahl & Jordan Louie - CBRE SALE PRICE: $25,500,000 UNITS: 148 ~ PPU: $172,297 NOTE: CBRE sold Spokane Valley’s Village on Broadway for $25.5M, representing the undisclosed seller. The 148-unit apartment complex, built in 1996, features in-unit washers/dryers, a dog park, and community amenities.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,360,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$90,596.11
Cash-on-Cash Return-1.27%
Monthly Debt Service$120,883.01
Annual Debt Service$1,450,596.11