LT REAL ESTATE

Most multifamily properties in Spokane sell within 60 to 120 days of listing, depending on pricing, condition, unit count, and seller motivation. Well-priced buildings with clean financials and a motivated seller often receive offers within the first 30 days. Buildings with deferred maintenance or incomplete financial records typically take longer due to extended due diligence. We prepare a broker opinion of value, market the property to our active buyer network, and manage the transaction through closing.

Value depends on rental income, operating expenses, unit count, condition, location, and current market cap rates. In Spokane, cap rates currently range from roughly 5% for premium, well-maintained properties to 7.5%+ for buildings with deferred maintenance or value-add opportunity. Spokane multifamily properties have traded between $65,000 and $250,000+ per unit over the past five years, with the market average around $137,000 per unit. Our team has closed 74 multifamily transactions representing 23% of all Spokane multifamily sales since 2021, giving us direct pricing data most brokers don't have.

Not necessarily. Some sellers invest in light cosmetic upgrades to maximize sale price, while others sell as-is and let the buyer capture the value-add upside. A property with significant deferred maintenance will trade at a higher cap rate, meaning a lower price, but the cost of renovating may not always be recovered dollar for dollar in the sale. As a company that also operates a general contracting division and manages 2,200 units, we know renovation costs down to the line item and can tell you which improvements, if any, would meaningfully impact your sale price.

Yes. A 1031 exchange allows you to defer capital gains taxes by reinvesting sale proceeds into another qualifying property. We work with 1031 exchange accommodators and can coordinate the exchange timeline with your closing. Many of our sellers use exchanges to move from older, management-intensive buildings into newer or more passive assets. We can connect you with a qualified intermediary and help you identify replacement properties within the required timeline.

At minimum, a buyer will want to see a current rent roll, trailing 12 months of income and expense statements (T-12), copies of all leases, a list of capital improvements, and property tax records. Having these ready before listing shortens the due diligence period and strengthens buyer confidence. If your records are incomplete, we can help you reconstruct what is needed.