River Court Apartments, a 21-unit complex in Spokane, Washington, has sold for $2,325,000. Kidder Mathews Vice President Max Frame of the Simon | Anderson Multifamily Team, based at the firm’s Seattle headquarters, represented the seller.
Located at 3001 E. Upriver Drive along the Spokane River in the desirable Minnehaha neighborhood, River Court Apartments was built in 1979 and has been well-maintained, presenting a value-add opportunity for investors.
The property consists primarily of 2-bedroom units with an average size of 845 square feet. Amenities include a full-sized sports court, covered parking, spacious decks, and air conditioning.
“River Court Apartments offer a strong value-add opportunity, with rent projected to grow roughly 14% as-is and up to 24% with renovations,” said Frame. “Additional land on the site creates a clear path for future development, further increasing long-term returns.”
The Simon | Anderson team continues to offer trusted advisory for multifamily owners and investors across Eastern Washington, with Frame at the forefront of the market.
About the Simon | Anderson Multifamily Team
The apartment brokerage team led by Dylan Simon and Jerrid Anderson of Kidder Mathews represents apartment investors, developers, and landowners in the sale and purchase of apartment buildings and development land across the entire State of Washington. The team of 12 brokerage professionals specializes in the sale and purchasing of apartment buildings and development land from $1 million to more than $100 million. For more information, visit simonandersonteam.com.
About Kidder Mathews
Kidder Mathews is the largest fully independent commercial real estate firm in the Western U.S., with over 900 professionals in 19 offices across Washington, Oregon, California, Nevada, and Arizona. We offer a complete range of brokerage, appraisal, asset services, consulting, and debt & equity finance services for all property types. Kidder Mathews averages $9 billion in transaction volume, manages more than 55 million square feet of space, and conducts nearly 2,700 appraisal, consulting, and cost segregation assignments annually. For more information, visit kidder.com.
