Maxwell Group LLC, owned by Spokane real estate investor Bob Maxwell, has bought the 24-unit West Ridge Apartments, at 2820 W. Seventh, and is converting the apartments to condominiums, says real estate agent Tim Penna.


Penna, of Century 21 Beutler & Associates, handled Maxwell Groups purchase of the four-story building and also is the listing agent for the condos.


Maxwell Group paid $1.3 million for the property, which a family partnership headed by Spokane attorney Paul Mack had owned, and expects to spend about $1.5 million on improvements to the complex, Penna says.


The building is located on the north side of Sunset Boulevard, just west of the bridge that spans Latah Creek, near Sunset Hill, and many of the living units offer views to the north toward the valley where the creek merges with the Spokane River, he says.


All of the condos will be 800-square-foot, two-bedroom, one-bath units, and theyll range in price from $119,000 to $159,000, depending on amenities and location, Penna says. All of the units are being updated with granite countertops, and new cabinets, fixtures, windows, and trim, he says. Exterior improvements will include new landscaping and electric gates to provide secure parking, he says.


Weve presold 10 of the 24 units, and we expect to be sold out as soon as they hit the market, Penna says.


Contact Kim Crompton at (509) 344-1263 or via e-mail at [email protected].