8 Units | Built 2018 Queen Anne | Seattle, WA OFFERING MEMORANDUM BERTONA STEPS 3402 15th Avenue West Seattle, 98119 Investment Contacts Matt Kemper Vice President +1 206 607 1752
[email protected] Don Flanigan Vice President +1 206 971 7020
[email protected] Jordan Louie Vice President +1 206 971 7007
[email protected] Financing Contacts Seth Heikkila Senior Vice President +1 206 607 1732
[email protected] Drew Heitstuman Associate +1 206 971 7021
[email protected] CONTENTS Executive summary 04 Property description 08 Submarket overview 14 Market overview 18 Rent & sales comparables 22 Financial analysis 28 Transaction guidelines 32 EXECUTIVE SUMMARY EXECUTIVE SUMMARY 5 The Offering JLL is pleased to present Bertona Steps to the investment community. Completed in 2018, the condo-quality asset offers eight spacious units with Scandinavian designer finishes and high energy efficiency. Bertona Steps sits on the western side of Queen Anne, providing easy access to the amenities and employment opportunities of Greater Seattle. The property is less than a five-minute walk to the RapidRide D line, as well as the future Interbay Light Rail Station. The upcoming Expedia campus is also nearby, less than 10 minutes by car. Property Details Name Bertona Steps Address 3402 15th Avenue West, Seattle, Washington 98119 Parcel Number 277060-3480 Built 2018 Construction Type Wood frame Number of Units Eight apartment homes Average Unit Size 905 square feet Residential Space 7,238 net rentable square feet Floorplans Live-work (1x1.5) and two bedroom / one bath options Parking Five parking stalls OFFERING MEMORANDUM 6 EXECUTIVE SUMMARY Investment Highlights RESIDENTIAL DESTINATION Queen Anne is among the most coveted and trendy neighborhoods for the young city-dwelling professionals of Seattle.