AURORA MIXED USE BUILDING NORTHGATE

AURORA MIXED USE BUILDING

GREENWOOD

BALLARD GREEN LAKE

FREMONT UNIVERSITY WALLINGFORD DISTRICT

MAGNOLIA

INTERBAY QUEEN ANNE

CAPITOL HILL

SEATTLE CBD CENTRAL DISTRICT

WEST SEATTLE OFFERING

Paragon Real Estate Advisors is pleased to announce the exclusive sale of the Aurora Mixed Use Building. The property is well situated with Ballard to the West, Phinney Ridge to the Northwest, Wallingford to the Northeast and Fremont/Northlake to the South. The property has street frontage on both Aurora and Winslow creating ease of access to the retail tenants. The property has six open parking stalls in front of the building. The property consists of one massage therapist, a Jujitsu Trainer and 2 – 2BD/1BTH apartment units on the top floor. The property is situated on a 3,915 square foot lot zoned NC3-55 (M) presenting an owner with future development potential.

NAME Aurora Mixed Use Building

ADDRESS 4210 Aurora Ave N, Seattle, WA 98103

PRICE $1,250,000

PRICE PER FOOT $231.74

BUILDING BREAKDOWN 2 – 2BD/1BTH Units & 2 Commercial Spaces

NET RENTABLE SQUARE 5,394

CURRENT GRM/CAP RATE 13.4/5.0%

MARKET GRM/CAP RATE 10.4/7.0%

BUILT 1965

ZONING NC3-55 (M)

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify all information and bears all risk for inaccuracies. INVESTMENT HIGHLIGHTS

„ Four Tenants „ Easy access to Downtown Seattle

„ Commercial Rents are well below market and are not on NNN „ 3,915 Square Foot Lot – Zoned NC3-55 (M) charges „ Month-to-Month Leases „ Significantlong-term rental upside „ Ability to renegotiate leases for long-term basis „ Produces significant cash flow „ Roof was replaced in 2003 „ Good Aurora Location „ Double Pane Vinyl Windows NEIGHBORHOOD AMENITIES

Restaurants & Bars

1. Musashi’s 2. Fiasco 3. Kamonegi 4. Art of the Table 5. Lighthouse Roasters 6. Paseo Fremont 7. El Legendatio 8. Revel 9. Fremont Brewing’s AURORA MIXED USE BUILDING Shops & Services

10. Theo Chocolate 11. PCC 17 12. QFC 13. CVS 19 18 7 14. Marketime Foods 1 13 Schools & Parks 20 14 12 17. Woodland Park Zoo 6 18. Woodland Park 5 19. Woodland Park Rose Garden 3 20. Fremont Peak Park 4 8 11 10 9 2 FREMONT

This artsy neighborhood on the north shore of the Lake Washington Ship Canal thrives with its bohemian vibe and quirky claims to fame. Fremont is home to a slew of Seattle’s largest employers: Adobe, Google, Tableau Software’s FREMONT TROLL DOWNTOWN headquarters, BEA, Brooks Sports’ headquarter. FREMONT BREWING The Burke-Gilman Trail winds through Fremont, providing scenic, waterside strolls or bike rides toward Ballard to the FREMONT West or Gas Works Park to the East. On 34th Street, the vibrant Fremont Sunday Market fills the area with artwork and tasty eats from local vendors. FREMONT BRIDGE Fremont has several breweries including Hale’s Ales brewery and the Fremont Brewing. The original Redhook breweries were located in Fremont until their closures in 1988 and 2002, respectively. You can also grab an amazing sandwich at Paseos, eat a freshly made pie at Pie, slurp a bowl of Pho at Lucky’s, or sit down for creative Mexican BURKE-GILMAN TRAIL cuisine and a killer margarita at el Camino.

POPULATION MEDIAN HOUSEHOLD RENTER-OCCUPIED MEDIAN RENT INCOME HOUSING 11,994 $101,997 67% $1,699 SEATTLE EMPLOYER MAP

AURORA MIXED USE BUILDING SEATTLE’S BOOMING TECH MARKET

SEATTLE

LOCAL TECH COMPANIES IN SEATTLE

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A T I O N F R O M S A N F R AN C IS CO B AY AR EA SAN FRANCISCO KING COUNTY INFORMATION

KING COUNTY 2.3 million SINCE 2O1O, ON AVERAGE, KING COUNTY HAS ADDED 31,8OO PEOPLE PER YEAR, OR POPULATION GROWTH HAS BEEN GREATER THAN 13,OOO HOUSEHOLDS AT 2.45 PERSONS PER HOUSING PRODUCTION CONSISTENTLY SINCE 2O11. HOUSEHOLD. POPULATION

KING COUNTY MEDIAN NATIONAL MEDIAN $95,009 $63,179 HOUSEHOLD INCOME HOUSEHOLD INCOME

KING COUNTY by 78% NATIONAL INCREASE by 3% HOUSEHOLD INCOME INCREASE SINCE 2OOO ($41,852) SINCE 2OOO ($1,780)

KING COUNTY NATIONAL BACHELOR’S OR 53.2% BACHELOR’S OR 32.6% HIGHER DEGREE RATE HIGHER DEGREE RATE

KING COUNTY NUMBER 10 EDUCATION OF UNIVERSITIES

KING COUNTY RENTAL NATIONAL RENTAL 43% 36% HOUSING RATE HOUSING RATE

KING COUNTY MEDIAN $1,494 NATIONAL MEDIAN $1,023 MONTHLY RENT REAL ESTATE MONTHLY RENT BUILDING PHOTOS UNIT PHOTOS UNIT PHOTOS UNIT PHOTOS COMMERCIAL SPACE PHOTOS COMMERCIAL SPACE PHOTOS COMMERCIAL SPACE PHOTOS Income and Expenses ANNUALIZED OPERATING DATA CURRENT MARKET

Units 4 Price $1,250,000 Scheduled Gross Income $93,660 $120,060 Year Built 1965 Per Unit $312,500 Less Vacancy 5.00% $4,683 5.00% $6,003 Rentable Area 5,394 Per Sq. Ft. $231.74 Gross Operating Income $88,977 $114,057 Down Pmt $500,000 Current GRM 13.35 Less Expenses $26,090 $26,090 Loan Amount $750,000 Current CAP 5.03% Net Operating Income $62,887 $87,967 Interest Rate 4.25% Market GRM 10.41 Annual Debt Service ($3,690/mo) $44,275 $44,275 Amortization 30 years Market CAP 7.04% Cash Flow Before Tax 3.72% $18,612 8.74% $43,692 Principal Reduction $12,644 $12,644 Total Return Before Tax 6.25% $31,256 11.27% $56,336 RESIDENTIAL

UNITS UNIT TYPE SIZE CURRENT RENT MARKET RENT ANNUALIZED OPERATING EXPENSES CURRENT MARKET 4206 2BD/1BTH 967 $1,575 $1,695 RE Taxes 2020 Actual $15,595 $15,595 4214 2BD/1BTH 967 $1,635 $1,695 Insurance 2020 Actual $3,381 $3,381 2 Total/Avg 967 $1.66 $1.75 Utilities 2020 Annual. $4,971 $4,971 Maintenance/Repairs 2020 Annual. $1,143 $1,143 COMMERCIAL Capital Reserves Pro Forma $1,000 $1,000 Aurora (4214) 1,590 $1,950 $2,120 2020 Assessed Value: $1,696,400 Winslow (4210) 1,870 $2,420 $2,805 Total Expenses $26,090 $26,090 2 Total/Avg 1,730 $15.16 $17.08

MONTHLY INCOME CURRENT MARKET CURRENT MARKET Gross Potential Rent $7,580 $8,315 Expense/Unit $6,523 Expense/Unit $6,523 OPERATIONS OPERATIONS NNN Reimbursements $0 $1,455 Expense/Foot $4.84 Expense/Foot $4.84 Miscel. Income (Late Fees) $0 $10 Percent of EGI 27.86% Percent of EGI 21.73% Utility Bill Backs $225 $225 Gross Potential Income $7,805 $10,005 Retail Space Breakdown

BEGINNING OUSIDE EXP. BASE ADDITIONAL ANNUAL / SF. RENEW. TENANT DATE EXP. DATE DATE SQ. FT. RENT CHARGES FT. RATE OPT. EXTENS. LENGTH RENT INCREASES 4210 Aurora - Massage Therapy 01.15.2020 12.31.2021 12.31.2025 1,870 $2,420 See Below $15.53 2 2 Years Fair Market Value 4211 Winslow - Jujitsu Studio 02.01.2010 01.31.2011 1,590 $1,950 See Below $14.72 Month-to-Month

Apartment 4206 09.01.2018 08.31.2019 967 $1,575 $125 Month-to-Month Apartment 4214 08.01.2016 09.30.2016 967 $1,635 $100 Month-to-Month

Totals 5,394 $7,580 $225

Additional Charges:

4210 Aurora - Massage Therapy: Lease has a demolition clause and lease includes four reserved parking stalls. Tenant pays water bill on the property that is in excess of $300/mo. Tenant pays electric and garbage directly.

4211 Winslow - Jujitsu Studio: Tenant pays electric and garbage directly.

Apartment 4206: Lease includes one reserved parking stall

Apartment 4214: Lease includes one reserved parking stall

SALES COMPARABLES

Aurora Mixed Use Building 4210 Aurora Ave N Seattle, WA 98103

Sales Price $1,250,000 Year Built 1965 Square Feet 5,394 1 Current Cap 5.0% Market Cap 7.0% Price/Foot $232

1 Sales Price $2,562,500 2 Sales Price $3,750,000 4 Year Built 1910 Year Built 1919 Square Feet 4,976 Square Feet 9,943 Current CAP 4.7% Current CAP 4.4% Price/Foot $515 Price/Foot $377 Sales Date 11.30.2020 Sales Date 11.23.2020 5 6 Greenwood Retail Wallingford Mixed-Use Building 7311 – 7321 Greenwood Ave N 1901-1909 N 45th St 2 Seattle, WA 98103 Seattle, WA 98103 3

3 Sales Price $1,965,000 4 Sales Price $1,500,000 Year Built 1962 Year Built 1920 Square Feet 8,015 Square Feet 3,968 Current CAP N/A Current CAP 2.8% Price/Foot $245 Price/Foot $378 Sales Date 8.10.2020 Sales Date 08.05.2020 Exxel ����Building 46 Eighteen 4220 Aurora Ave N 6418 20th Ave NW AURORA MIXED USE Seattle, WA 98103 Seattle, WA 98107 BUILDING 5 Sales Price $1,325,000 6 Sales Price $1,875,000 Year Built 2006 Year Built 1991 Square Feet 2,845 Square Feet 5,000 Current CAP Owner/User Current CAP 4.6% Price/Foot $466 Price/Foot $375 Sales Date 12.18.2019 Sales Date 11.27.2019 Perche’No Building Sunnyside Mixed-Use 1319 N 49th St 4507 Sunnyside Ave N Seattle, WA 98103 Seattle, WA 98103 600 University St, Suite 2018 Michael Urquhart Brian Platt Seattle Washington 98101 [email protected] [email protected]

206 623-8880 / [email protected] 206 812-9123 206 812-9130 www.ParagonREA.com

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify all information and bears all risk for inaccuracies.

Broker [email protected] 000 000-0000