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Max Frame Of Kidder Mathews Represents Sale Of Two Spokane Multifamily Properties For $4.3M
SOLD
$4,300,000
Washington
See Similar DealsMultiFamily
Sold 10/20/2025
SOLD
Max Frame Of Kidder Mathews Represents Sale Of Two Spokane Multifamily Properties For $4.3M
155 South Oak Street & 1905 West 2nd Avenue
See Similar DealsMultiFamily
Sold 10/20/2025
Summary
WASHINGTON
Asset Type:MultiFamily
Transaction Type:Sale
Two historic multifamily properties located at 155 South Oak Street and 1905 West 2nd Avenue in Spokane, WA were sold for a combined total of $4.3 million. The sale involved 52 units, with a price per unit of $82,692.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,300,000
- Units: 52
- Price Per Unit: $82,692
- Market: Spokane, WA
- Broker: Max Frame - Kidder Mathews
The transaction consisted of the Oak Apartments and Elm Apartments, both located in Spokane’s Brownes Addition, highlighting their significance as historic multifamily assets in the region.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$229,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$15,277.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,384.19
Annual Debt Service$244,610.33
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