PRIME POSITIONING LEADS TO LIGHTNING-FAST PORTFOLIO SALE

SPOKANE, WA PORTFOLIO

CLIENT GOAL
The seller aimed to capitalize on significant renovations and strategic location by selling a boutique two-property portfolio near Providence Sacred Heart Medical Center. With upgraded interiors, strong in-place rents, and a bonus land parcel, the offering was geared toward buyers seeking turnkey assets with long-term upside.

PROPERTY HIGHLIGHTS

• City Terrace (212 W 7th Ave): An 8-unit, 4,400 SF garden-style building featuring fully renovated one-bedroom units, on-site laundry, covered parking, and private storage. Every unit boasts new LVP flooring, quartz countertops, updated cabinetry, and modern bath finishes. Located less than 10 minutes from Downtown Spokane and blocks from Providence Medical Center.

• 8th & Cowley: A 9-unit complement to the portfolio with similar vintage charm and modern interior upgrades. The package also included a .16-acre development parcel, increasing the long-term potential.

CHALLENGE
Marketing two separate vintage properties alongside a land parcel as a unified portfolio required precise buyer targeting and swift execution. Despite strong unit-level renovations, the properties needed to be underwritten for their location, tenant base, and operational profile—without letting the separate parcels dilute perceived value.

ACTION
The Christensen Group crafted a focused campaign emphasizing walkability, proximity to regional medical employers, and long-term investment upside. The portfolio’s full-unit renovations, immediate cash flow, and clean operational profile made it a standout among Spokane’s mid-sized apartment listings. Our team positioned the deal for syndicators and exchange buyers looking to deploy capital with speed and confidence.

RESULT
The offering went under contract in just 3 days and closed at 99.6% of list price. The buyer—a long-term investor—was drawn to the fully upgraded interiors, strong tenant demand, and potential development upside with the additional parcel. The deal is a strong example of how strategic preparation, market timing, and sharp messaging can deliver rapid results in today’s competitive buyer landscape.

CITY TERRACE & 8TH & COWLEY APARTMENTS – SPOKANE, WA

Sale Price: $2,555,000
Total Units: 17 Units + 0.16-Acre Parcel
Year Built: 1956 & 1963
Close Date: 2024
Days on Market: 3
% of List Price: 99.6%