This information supplied herein is from sources we deem reliable. It is provided without any representation, warranty or guarantee, expressed or implied as to its accuracy. Prospective Buyer or Tenant should conduct an independent investigation and verification of all matters deemed to be material, including, but not limited to, statements of income and expenses. Consult your attorney, accountant, or other professional advisor.

Exclusive Multifamily Offering

QUEEN ANNE TRIPLEX1819 3rd Avenue West, Seattle WA

$1,650,000 | 3 units | $383.72 per square footPremier address and spectacular location three blocks from Queen Anne Avenue’s trendy walkable restaurants, shops, grocers, and transit

Built by current ownership group in 1971 and on the market for the first time in 46 years

Owner-occupant opportunity/value-add investment

Ability to secure residential financing - a 30-year fixed rate loan possible

Within a few miles of major employers: Amazon, Google, Facebook, Gates Foundation, SPU, and Expedia (opening in 2019)

Uniquely large units - two are approximately 1,650 square feet

Three garages and three off-street parking spaces

QUEEN ANNE

QUEEN ANNE TRIPLEX SEATTLE

LAK

E

UN

ION

PUGET SOUND

ContactDan SwansonKidder MathewsSenior Vice President, Partner 206.296.9610dswanson@kiddermathews.com

Donna Marshall Capstone Real Estate GroupVice President 425.422.0954donna@capstonerealestategroup.com

FREMONT

This information supplied herein is from sources we deem reliable. It is provided without any representation, warranty or guarantee, expressed or implied as to its accuracy. Prospective Buyer or Tenant should conduct an independent investigation and verifi cation of all matters deemed to be material, including, but not limited to, statements of income and expenses. Consult your attorney, accountant, or other professional advisor.

This information supplied herein is from sources we deem reliable. It is provided without any representation, warranty or guarantee, expressed or implied as to its accuracy. Prospective Buyer or Tenant should conduct an independent investigation and verifi cation of all matters deemed to be material, including, but not limited to, statements of income and expenses. Consult your attorney, accountant, or other professional advisor.

kiddermathews.comkiddermathews.com

Queen Anne Triplex

Property Overview

Located on top of Queen Anne Hill, this fabulous triplex is situated in a premier location overlooking the West Queen Anne Playfi eld on a quiet, tree-lined street surrounded by million dollar homes. It was built by the current ownership group in 1971, and is on the market for the fi rst time in 46 years! The Queen Anne triplex has been operated with care at below market rents by this long-term ownership group. With minimal renovation, rents could be increased over 20%, and with a more thorough renovation, over 30%.

The property’s prime location provides quick access to both Downtown Seattle and South Lake Union. It is also located just three blocks from Queen Anne Avenue’s trendy restaurants and boutique shops, the Queen Anne farmers market, major grocers, and constant transit options. Additionally, residents of the Queen Anne Triplex are within a few miles of a variety of major employers including Amazon’s ever-growing world headquarters, the Bill & Melinda Gates Foundation, Seattle Pacifi c University, the expanding Google and Facebook campuses, and a variety of biotech companies scattered throughout South Lake Union. The new Expedia campus will open in 2019 and is expected to eventually accommodate 4,500 new employees.

With a Walk Score of 89 out of 100, the Queen Anne Triplex is within a quarter mile of 15 restaurants and eateries and 7 coffee shops. Within a half mile are several grocers including Trader Joe’s, the Queen Anne Farmers Market, and Safeway. Additionally, within one third of a mile, there are stops for fi ve bus lines that take tenants to Downtown Seattle, Ballard, and Seattle Pacifi c University. Within a mile there are 13 parks and playfi elds, including Kerry Park with its panoramic view of Downtown Seattle and the Puget Sound. With walkable access to such a vast array of dining, entertainment, employment, and transit options, residents of the Queen Anne Triplex are able to conduct their lives without the need for personally owned vehicles. This European-style, car-free existence is the preferred lifestyle for the current generation of renters.

Developed with pride by the current ownership group in 1971, the Queen Anne Triplex is comprised of a three-story building on a large lot. The three 3-bedroom apartments are uniquely large, with two that are approximately 1,650 square feet. All three units offer secured entry, dishwashers, decks, large windows showcasing territorial views, and spacious, light-fi lled interiors with large bedrooms, ample closet space, and large living and dining areas. The property is built with wood frame covered by wood siding, and features a pitched torch down roof, new garage doors, copper plumbing, low-maintenance landscaping, a common laundry room, and a large owner storage area. There are also three garages and three off-street parking spaces.

The Queen Anne Triplex has been owned for 46 years by the same family, which has maintained low leverage and affordable rents, while taking excellent care of the property. For a new operator, there is potential for upside simply by raising rents to market rates upon turnover. This triplex is well-suited for an owner occupant, or for an investor seeking a low-risk growth opportunity with a value-add strategy. This property’s premier address and spectacular location, combined with the option to obtain residential fi nancing at historically low rates fi xed for up to 30 years, make this triplex an attractive asset that will likely provide an excellent long term return.

PROPERTY OVERVIEW

Address1819 3rd Avenue West

Seattle, WA

Price $1,650,000

Down Payment $577,500

Price per Unit $550,000

Price per SF $383.72

Current Cap Rate 3.7%

Market Cap Rate 4.8%

Current GRM 18.7

Market GRM 15.4

# of Units 3

Avg Unit Size 1,433 SF

Net Rentable SF 4,300 SF

Year Built 1971

Financials & Overview

Queen Anne Triplex

CURRENT MARKET PRO FORMA

INCOME

Total Scheduled Rent $81,888 $100,800 $111,600

Laundry $1,080 $1,080 $0

Utility-Bill-Back $5,134 $5,182 $5,182

Non-Ref. / Late Fees $0 $200 $200

Scheduled Potential Income $88,102 $107,262 $116,982

Less Physical Vacancy (3%) ($2,643) ($3,218) ($3,509)

Effective Gross Income $85,459 $104,044 $113,473

EXPENSES

Real Estate Taxes $13,263 $13,263 $13,263

Insurance $1,600 $1,600 $1,600

Utilities $5,343 $5,343 $5,343

Repairs and Maintenance $3,000 $3,000 $3,000

Capital Reserves $750 $750 $750

Administration $111 $111 $111

Total Expenses $24,066 $24,066 $24,066

Expenses Per Unit $8,022 $8,022 $8,022

Expenses Per Square Foot $5.60 $5.60 $5.60

Net Operating Income $61,393 $79,978 $89,407

UNIT MIX

UNIT TYPE # UNITS AVERAGE SFCURRENT AVG RENT

CURRENT RENT/SF

MARKET AVG RENT

MARKET RENT/SF

PRO FORMA RENT

PRO FORMA RENT/SF

3 Bed / 1 Bath 1 1,000 $1,824 $1.82 $2,400 $2.40 $2,700 $2.70

3 Bed / 1.5 Bath 2 1,650 $2,500 $1.52 $3,000 $1.82 $3,300 $2.00

TOTAL 3 4,300 $6,824 $8,400 $9,300

AVERAGE 1,433 $1.59 $1.95 $2.16

This information supplied herein is from sources we deem reliable. It is provided without any representation, warranty or guarantee, expressed or implied as to its accuracy. Prospective Buyer or Tenant should conduct an independent investigation and verifi cation of all matters deemed to be material, including, but not limited to, statements of income and expenses. Consult your attorney, accountant, or other professional advisor.

This information supplied herein is from sources we deem reliable. It is provided without any representation, warranty or guarantee, expressed or implied as to its accuracy. Prospective Buyer or Tenant should conduct an independent investigation and verifi cation of all matters deemed to be material, including, but not limited to, statements of income and expenses. Consult your attorney, accountant, or other professional advisor.

kiddermathews.comkiddermathews.com

Queen Anne Triplex

Property Overview

Located on top of Queen Anne Hill, this fabulous triplex is situated in a premier location overlooking the West Queen Anne Playfi eld on a quiet, tree-lined street surrounded by million dollar homes. It was built by the current ownership group in 1971, and is on the market for the fi rst time in 46 years! The Queen Anne triplex has been operated with care at below market rents by this long-term ownership group. With minimal renovation, rents could be increased over 20%, and with a more thorough renovation, over 30%.

The property’s prime location provides quick access to both Downtown Seattle and South Lake Union. It is also located just three blocks from Queen Anne Avenue’s trendy restaurants and boutique shops, the Queen Anne farmers market, major grocers, and constant transit options. Additionally, residents of the Queen Anne Triplex are within a few miles of a variety of major employers including Amazon’s ever-growing world headquarters, the Bill & Melinda Gates Foundation, Seattle Pacifi c University, the expanding Google and Facebook campuses, and a variety of biotech companies scattered throughout South Lake Union. The new Expedia campus will open in 2019 and is expected to eventually accommodate 4,500 new employees.

With a Walk Score of 89 out of 100, the Queen Anne Triplex is within a quarter mile of 15 restaurants and eateries and 7 coffee shops. Within a half mile are several grocers including Trader Joe’s, the Queen Anne Farmers Market, and Safeway. Additionally, within one third of a mile, there are stops for fi ve bus lines that take tenants to Downtown Seattle, Ballard, and Seattle Pacifi c University. Within a mile there are 13 parks and playfi elds, including Kerry Park with its panoramic view of Downtown Seattle and the Puget Sound. With walkable access to such a vast array of dining, entertainment, employment, and transit options, residents of the Queen Anne Triplex are able to conduct their lives without the need for personally owned vehicles. This European-style, car-free existence is the preferred lifestyle for the current generation of renters.

Developed with pride by the current ownership group in 1971, the Queen Anne Triplex is comprised of a three-story building on a large lot. The three 3-bedroom apartments are uniquely large, with two that are approximately 1,650 square feet. All three units offer secured entry, dishwashers, decks, large windows showcasing territorial views, and spacious, light-fi lled interiors with large bedrooms, ample closet space, and large living and dining areas. The property is built with wood frame covered by wood siding, and features a pitched torch down roof, new garage doors, copper plumbing, low-maintenance landscaping, a common laundry room, and a large owner storage area. There are also three garages and three off-street parking spaces.

The Queen Anne Triplex has been owned for 46 years by the same family, which has maintained low leverage and affordable rents, while taking excellent care of the property. For a new operator, there is potential for upside simply by raising rents to market rates upon turnover. This triplex is well-suited for an owner occupant, or for an investor seeking a low-risk growth opportunity with a value-add strategy. This property’s premier address and spectacular location, combined with the option to obtain residential fi nancing at historically low rates fi xed for up to 30 years, make this triplex an attractive asset that will likely provide an excellent long term return.

PROPERTY OVERVIEW

Address1819 3rd Avenue West

Seattle, WA

Price $1,650,000

Down Payment $577,500

Price per Unit $550,000

Price per SF $383.72

Current Cap Rate 3.7%

Market Cap Rate 4.8%

Current GRM 18.7

Market GRM 15.4

# of Units 3

Avg Unit Size 1,433 SF

Net Rentable SF 4,300 SF

Year Built 1971

Financials & Overview

Queen Anne Triplex

CURRENT MARKET PRO FORMA

INCOME

Total Scheduled Rent $81,888 $100,800 $111,600

Laundry $1,080 $1,080 $0

Utility-Bill-Back $5,134 $5,182 $5,182

Non-Ref. / Late Fees $0 $200 $200

Scheduled Potential Income $88,102 $107,262 $116,982

Less Physical Vacancy (3%) ($2,643) ($3,218) ($3,509)

Effective Gross Income $85,459 $104,044 $113,473

EXPENSES

Real Estate Taxes $13,263 $13,263 $13,263

Insurance $1,600 $1,600 $1,600

Utilities $5,343 $5,343 $5,343

Repairs and Maintenance $3,000 $3,000 $3,000

Capital Reserves $750 $750 $750

Administration $111 $111 $111

Total Expenses $24,066 $24,066 $24,066

Expenses Per Unit $8,022 $8,022 $8,022

Expenses Per Square Foot $5.60 $5.60 $5.60

Net Operating Income $61,393 $79,978 $89,407

UNIT MIX

UNIT TYPE # UNITS AVERAGE SFCURRENT AVG RENT

CURRENT RENT/SF

MARKET AVG RENT

MARKET RENT/SF

PRO FORMA RENT

PRO FORMA RENT/SF

3 Bed / 1 Bath 1 1,000 $1,824 $1.82 $2,400 $2.40 $2,700 $2.70

3 Bed / 1.5 Bath 2 1,650 $2,500 $1.52 $3,000 $1.82 $3,300 $2.00

TOTAL 3 4,300 $6,824 $8,400 $9,300

AVERAGE 1,433 $1.59 $1.95 $2.16

LOWER QUEEN ANNE TRIPLEX923 6th Ave N, Seattle

Sale Date 03/13/2016Sale Price $1,460,000Price/Unit $486,667Price/SF $496.60GRM 17.2Cap Rate 4.8%Units 3Year Built 1902

3

2

4

3

5

1

QUEEN ANNE TRIPLEX

MAGNOLIA TRIPLEX3441-3445 23rd Ave W, Seattle

Sale Date PendingSale Price $1,550,000Price/Unit $516,667Price/SF $394.40GRM 20.0Cap Rate 4.2%Units 3Year Built 1967

NORTH CAPITOL HILL TRIPLEX1909 Broadway E, Seattle

Sale Date 11/09/2016Sale Price $1,749,000Price/Unit $583,000Price/SF $523.34GRM 18.0Cap Rate 4.6%Units 3Year Built 1990

This information supplied herein is from sources we deem reliable. It is provided without any representation, warranty or guarantee, expressed or implied as to its accuracy. Prospective Buyer or Tenant should conduct an independent investigation and verifi cation of all matters deemed to be material, including, but not limited to, statements of income and expenses. Consult your attorney, accountant, or other professional advisor.

kiddermathews.comThis information supplied herein is from sources we deem reliable. It is provided without any representation, warranty or guarantee, expressed or implied as to its accuracy. Prospective Buyer or Tenant should conduct an independent investigation and verifi cation of all matters deemed to be material, including, but not limited to, statements of income and expenses. Consult your attorney, accountant, or other professional advisor.

Exclusive Multifamily Offering

QUEEN ANNE TRIPLEX1819 3rd Avenue West, Seattle WA

$1,650,000 | 3 units | $383.72 per square foot

ContactDan SwansonKidder MathewsSenior Vice President, Partner206.296.9610dswanson@kiddermathews.com

Donna MarshallCapstone Real Estate GroupVice President425.422.0954donna@capstonerealestategroup.com

Premier address and spectacular location three blocks from Queen Anne Avenue’s trendy walkable restaurants, shops, grocers, and transit

Built by current ownership group in 1971 and on the market for the fi rst time in 46 years

Owner-occupant opportunity/value-add investment

Ability to secure residential fi nancing - a 30-year fi xed rate loan possible

Within a few miles of major employers: Amazon, Google, Facebook, Gates Foundation, SPU, and Expedia (opening in 2019)

Uniquely large units - two are approximately 1,650 square feet

Three garages and three off-street parking spaces

Sales Comparables

Queen Anne Triplex

CAPITOL HILL TRIPLEX1970 Harvard Ave E, Seatle

Sale Date 05/31/2017Sale Price $1,600,000Price/Unit $533,333Price/SF $380.95GRM N/ACap Rate N/AUnits 3Year Built 1969

QUEEN ANNE

SEATTLE

CAPITOL HILL

GREEN LAKE

GREENWOOD

PHINNEY RIDGE

FREMONT

GREEN LAKE

LAKE UNION

PUGET SOUND

QUEEN ANNE

QUEEN ANNE TRIPLEX SEATTLE

LAK

E

UN

ION

PUGET SOUND

BALLARD

1

2

5

MAGNOLIA TRIPLEX2308 W Wheeler St, Seattle

Sale Date 07/03/2017Sale Price $1,600,000Price/Unit $533,333Price/SF $430.11GRM N/ACap Rate N/AUnits 3Year Built 1965

4

WALLINGFORD

FREMONT