Fourth Avenue Capital (FAC) has acquired Village on Broadway, a 148-unit Class B workforce housing community located in Spokane Valley, Washington. The acquisition expands FAC’s portfolio to 26 properties, including three others in the Spokane–Coeur d’Alene MSA.
Built in 1996, Village on Broadway sits on 7.3 acres and consists of 148 apartment homes across 13 residential buildings and a standalone leasing office. The community offers a diverse mix of one-, two-, and three-bedroom floorplans, averaging 926 square feet per unit. Residents benefit from multiple parking options, including 270 total spaces—featuring one carport per unit, as well as garage and surface parking.
Each apartment includes full-size washers and dryers, air conditioning, and built-in desks—a rare and differentiating feature for properties of this vintage, particularly attractive to residents working from home.
FAC plans to elevate Village on Broadway through targeted capital improvements. This includes enhancing the sense of arrival, upgrading amenities, and repainting the exterior.
“Village on Broadway is a well-located asset in a growth market with differentiated floorplans,” said Davis Vaughn, Managing Partner at Fourth Avenue Capital. “As a Spokane-based company, we are excited about the opportunity to invest locally and continue our commitment to quality housing in our home market.”
Fourth Avenue Capital is a real estate investment, development, and operating company headquartered in Seattle and Spokane, Washington focused on middle market multifamily assets in the Pacific Northwest. FAC has acquired over 1,400 units/ beds to date and has a development pipeline exceeding 500 units and $150M cost. FAC’s existing assets under management total more than $400M.
Fourth Avenue Capital plans to expand its portfolio through strategic acquisitions, leveraging strong relationships with industry partners and its ability to identify attractive investment opportunities. By aligning investor interests and implementing sustainable practices, the company aims to create lasting value while making a positive impact on the communities it serves.
