Oak Apartments and Elm Apartments, two historic multifamily properties totaling 52 units in Spokane’s highly sought-after Brownes Addition neighborhood, have sold for a combined $4,300,000. Max Frame, Vice President with the Simon | Anderson Multifamily Team at Kidder Mathews, represented the sellers in the transaction.
Built in 1907, both buildings feature classic brick architecture and spacious layouts that blend turn-of-the-century character with modern appeal. Oak Apartments at 155 S Oak Street includes 31 units, while Elm Apartments at 1905 W 2nd Avenue comprises 21 units and on-site parking. Situated just a few blocks apart, the properties offered investors the opportunity to acquire a complementary portfolio in one of Spokane’s most walkable and historically significant residential districts.
“This sale highlights the continued appeal of Spokane’s core neighborhoods to investors seeking quality assets with upside potential,” said Frame. “Brownes Addition combines historic charm, strong tenant demand, and enduring value—traits that continue to attract both local and regional capital.”
The transaction underscores the depth of investor confidence in Spokane’s multifamily sector, where well-located vintage assets remain highly competitive amid a resilient rental market.
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 53 million square feet of space, and conducts 2,400 appraisal, consulting, and cost segregation assignments annually.
