The 30-unit Everspring Terrace Apartments are located in the Eastlake area of Seattle with views of Lake Union and downtown Seattle. The interior of the property was high quality, but the exterior had potential water intrusion concerns. Kidder Mathews were hired to market the property at an above market price. Because of the exterior water intrusion potential, they were required to obtain experts to perform inspections and give opinions of cost to improve the property.
Kidder Mathews created an extensive marketing program with exposure to hundreds of potential buyers as well as to the brokerage community. The competitive environment that they created generated four offers. The Everspring Terrace Apartments were sold to a condominium converter for a sale price of $4,700,000.