The Eastern Washington apartment market saw a pickup in activity, according to a recent report by Kidder Mathews across 20 counties, including Spokane, Benton, Franklin, Chelan, and Yakima.
Overall pricing remained strong at an average of $147,000 per unit. This was driven by continued demand and aggressive pricing for 1980s and newer assets. Properties built in the 1970s and earlier traded at an average of $103,000 per unit.
The report was compiled by Vice President Max Frame of Kidder Mathews’ Simon | Anderson Multifamily Team, which has experienced a noticeable increase in activity since the summer, with eight sales in Eastern Washington and 21 statewide since August. “We’re finally seeing the return of consistent deal flow, and that’s giving both buyers and sellers a clearer view of where values stand,” said Frame. “For owners, this is the moment to assess operations and make adjustments that can drive better outcomes next year.”…