flamingo terrace apartments ,

subject property the offering dents alike. neighborhood by homeowners and resi located in the most sought-after high-end ments is a turnkey, building apartment tion appeal. The Flamingo Terrace- Apart strengthen the site’sfurther innate loca- Queen Anne neighborhood onethat will of growth and development in the lower nearby have already triggered a wave and retail shops. The Light Rail Station anchored stores, localbars,restaurants , several grocery tial street, within blocks from the new ments is located onabeautiful residen 6 units. The Flamingo Terrace- Apart pairs and renovation of the interior for washing machine area and minimal re- building includes the parking façade, lot, pairs that was completed in 2019 to the renovations/re- recent Most floorplans. great with sunlight and the units have ideal size units the fills that windows generations as the units offer midsize mingo Terrace appeals to all Apartments and Elliott Bay. The Fla coveted views of , the communities featuring some of the most tate markets and most walkable/livable places to live, mostcompetitive real es hottest neighborhoods, mostdesirable is consistently ranked as oneofthe city’s ly-located Queen Anne neighborhood. It in Seattle’s highly desirable and central- building. This site apartment is located to purchase a classic 11-unit portunity fering presents an attractive and rare op- Flamingo Terraceof- This Apartments. to announcethe exclusive listing of the First Western Inc. is pleased Properties

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executive summary A $4,388,888 sking property subject P rice Flamingo T Co nstru Opp 7,680 SF(0.18acres) T ot P erraceApartments 815 3r ortuni a a r Jurisdi c l c City ofSeattle 545780-0160 tion Cl el Wood Fr La ye Pro d Avenue N Investment Address a nd Are N S ty r built torie umber p c U T erty tion nits 1955 a ame y ss p 11 a s e 2 exterior building images

Subject Property financial summary 2 stories|11units nt1 ero $1,550/month 1Bedroom $1,400/month Unit 11 $1,350/month 1Bedroom Unit 10 1Bedroom $1,300/month Unit 9 1Bedroom $1,800/month Unit 8 2Bedroom $1,300/month Unit 7 1Bedroom $1,650/month Unit 6 1Bedroom $1,450/month Unit 5 1Bedroom $1,600/month Unit 4 1Bedroom $1,750/month Unit 3 2Bedroom $1,700/month Unit 2 2Bedroom 1 Unit the flamingoterrace December November October September August July June May April March February January Unit Breakdown Rent Roll $17,000 $17,000 $17,000 $17,000 $17,000 $17,000 $17,000 $16,670 $16,670 $16,670 $16,600 $16,600 etlIcm 09$194,200.00 Rental Income2019 $202,300.00Projected RentalIncome NOI 2020: December 2020 October 2020 A partments Approximately $172,800.00 $151,300.00 Year to Date Income $172,800 A nticipated NOI 2 021 submarket overview Highway 99 Walk Score Bike Score from I-5& Bus Score Minutes 96 98 80 property subject neighborhood vibe

uptown urban center once referred to as Lower Queen Anne, is a neighborhood that has been shaped by several significant development periods, including the World’s Fair of 1962 which established . Uptown today is a destination for visitors from throughout the region, a home to Seattleites seeking to live close to downtown, a center for the performing arts, a place for families and the location of a growing workforce. As the city grows, Uptown will play a central role in Seattle’s future as a regional center for housing and job growth, as one of Seattle’s six regional Urban Centers within the city, meaning it will experience significant growth of both jobs, housing and transit service. Uptown is a transition area from the much more intensely developed Belltown, Downtown, and South Lake Union neighborhoods to the single-family neighborhood of Queen Anne. The design character of Uptown is dynamic and evolving. Open space in this dense pedestrian-oriented, mixed-use urban center is more than parks and the Seattle Center. Side-walks, ground level open space of buildings, mid-block crossings and alleys provide open space connections and places throughout the neighborhood. Today Uptown is connected to downtown and other neighborhoods by bus transit, including Rapid Ride, as well as the Monorail. Future light rail station, located near Queen Anne and Republican Streets, will add highcapacity transit to the mix. Uptown’s proximity to downtown make walking and biking significant transportation modes. The Climate Pledge is a commitment to meet the Paris Agreement 10 years early. It calls on signatories to be net zero carbon across their businesses by 2040 — a decade ahead of the Paris Agreement goal of 2050. whose cornerstone of its environmental strategy is to create the first International Living Future Institute certified zero carbon arena in the world. The completely refurbished former Key Arena is a 6.8 acre entertainment complex named after The Climate Pedge, not a coproation. Founded by and Global Optimism. It will be home to the NHL’s 32nd club, given life by 32,000 fans. Led by General Manager , the will begin their inaugural season in 2021-22.

The Ballard Link Extension will provide fast, reli- able light rail connections to dense residential and job centers throughout the region. In addition, a

new downtown Seattle light rail tunnel will provide ap m capacity for the entire regional system to operate e efficiently. The Link extensionn is part of the regional transit system expansion approved by voters in November 2016. out R

Ballard to Downtown

• Adds 7.1 miles of light rail service from downtown Seattle to Ballard, including a new downtown Seattle rail-only tunnel. • Includes 9 new stations between Chinatown-International District and Market Street. • Anticipated 35,000 Riders Daily

• currently in the Planning Phase Expansion Ballard

• Expected Opening 2035 info provided from Sound Transit legend 1. E Queen Anne Playfield 2. W Queen Anne Playfield: Community Center, Pool, Playground, Sport Fields 3. Queen Anne Center: Unique Bars & restaurants, Shopping, & Services 4. Lake Union: 571 Square 1 Mile Freshwater Lake 2 5. Kerry Park 6. Kenmore Air: 45 Flights Daily 3 7. Museum of History & Industry, The Center for Wooden Boats, Lake Union 4 Park 8. Subject Property 9. Kinnear Park 10. Allen Institute: 10,441 Employees 11. Amazon SLU: 40+ Buildings & +/-10M SF Office 12. 400 Fairview: M Bar, Kai Market, Meat & Bread, Verde 5 & Co, Trophy Cupcakes, Caffe 6 Ladro, Bar Harbor, Office 13. Bill & Melinda Gates Foundation: 2,900 employees 7 14.Tunnel Entrance 8 15. Seattle Center: 7.4 acre 9 entertainment complex. 30 cultural,e ducational, entertainment, sports reside 10 ont he grounds. 12M visitors annually. Monorail - 2 M riders 11 annually

market overview 16. Seattle Street Car: 5,000 riders daily 17. Denny Park 13 12 18. 2200 Westalke: Whole 14 Foods, Pan Pacific Hotel 15 19. Elliott Bay: Port of 16 Seattle, Argosy Cruised, Seattle Seafront, Seattle Aquarium, Big Wheel, Cruise Stop (1M riders annually), Edgewater Hotel & More 17 20. Belltown Neighborhood 19 21. SAM Sculpture Park: 425K visitors annually 18

Stay Healthy Streets: Streets limited to pedestrians, cyclists, & authorized vehicles 20 Amazon Vulcan 21 Buidings Real Estate Population Average HH Income Daytime Population

Regis - 2020 Mile 1 58,371 $152,584 53,526

Mile 2 163,843 $136,583 225,677

Mile 3 274,605 $135,024 338,976 city ov erview

Seattle, wa is a multi-faceted city located in the Pacific Northwest. An extremely multicultural influenced by the Pacific Rim in art and architecture, the city offers residents a pace of life that can be either relaxed or fast paced & entrepreneurial. Seattle is home to many successful startup businesses such as Microsoft, , Eddie Bauer, Nintendo, Amazon.com, and REI. Water is everywhere and the city’s maritime heritage is very noticeable. is a public community college located on Seat- tle’s Capitol Hill neighbor- hood along Broadway and west of Cal Anderson Park. The college occupies 10 buildings along Broadway St and has a substantial interna- tional student population served by the Interna- tional Education Programs division as well as many immigrant and refugee students taking ESL courses through the Basic and Transitional Studies division. The college currently enrolls over 15,800 students annually and was named Time Magazine’s Community College of the Year in 2001.

University of Washington The Drumheller Fountain has been one of the most iconic places at UW since the early 1900’s

is one of the world’s preeminent public universities located is the largest indepen- in Seattle, Washington. Founded in 1861, Washington is one dent university in the of the oldest universities on the West Coast; it was estab- Pacific Northwest with lished in downtown Seattle approximately a decade after the city’s founding to aid over 7,200 students enrolled in undergraduate its economic development. Today, the university’s 703-acre main Seattle campus and graduate programs within eight schools is in the University District above the Montlake Cut, within the urban Puget Sound and colleges. is located on region of the Pacific Northwest. The university has additional campuses in Tacoma a beautiful campus of more than 50 acres in and Bothell. Overall, UW encompasses over 500 buildings and over 20 million gross the dynamic heart of Seattle on First Hill. Seat- square footage of space, including one of the largest library systems in the world tle University’s Master Plan calls for an expan- with more than 26 university libraries, as well as the UW Tower, lecture halls, art sion of over 900,000 square feet over the next centers, museums, laboratories, stadiums, and conference centers. The university ten years. The expansion projects include new offers bachelor’s, master’s, and doctoral degrees through 140 departments in vari- student housing, retail, Student Center Pavilion ous colleges and schools, sees a total student enrollment of roughly 54,000 annu- additions and new academic buildings on Madi- ally, and functions on a quarter system. son and Broadway.

To accommodate the significant growth, the university plans to expand its campus by over six million square feet, adding new academic, research and office space. As of 2017 UW’s masterplan includes 85 potential development sites for the near future. education currently Occupies 346,000 square feet Tech Drivers in South Lake Union and has leases signed for three additional buildings under construction in South Lake Union bringing the total square is known for its disruption of well-estab- footage of 881,000 SF which will accommodate 5,000 employ- lished industries through technologi- ees. Facebook is committed to growing in the Seattle market to cal innovation and mass scale. It is the attract top level talent to compete with the other industry tech world’s largest online marketplace, AI as- companies in the area. Recent news of expansions on the East- sistant provider, live-streaming platform and cloud computing side indicates that Facebook is committed as they will lease the platform as measured by revenue and market capitalization. 11 – story, 338,000 square foot Block 16 in Bellevue’s Spring Dis- Amazon is the largest Internet company by revenue in the world. trict which will add nearly 2,000 additional employers on the East- It is the second largest private employer in the side. and one of the world’s most valuable companies. Amazon occupies over 10 million square feet of office space expansion plan for the Seattle market con- and is estimated to staff over 45,000 employees in the South sist of a two 12-story office towers totaling lake Union area. The Tech giant has over 12 million square feet 630,000 square feet which will staff up to of office space in Seattle with a capacity for 65,000 employees. 3,000 to 4,500 employees at 333 Dexter The employees of the Amazon campus headquarters continue Avenue. Apples move to the Seattle region increases competition to be major drivers of rental demand as new staff is brought for talent specifically South Lake Union, as the site is just blocks from out the area and is a prime renter in the Seattle area de- from Amazon’s headquarters campus. Apple’s growth in Seattle mographic. is the latest feather in the cap for the Seattle tech scene Amazon Eastside expansion plans are expected to have space for over 26,000 employees in Bellevue with their recent 354,000 SF lease at the newly built Centre 425 and nearly four million square feet of additional Bellevue expansions just recently announced.

646,000 square foot South Lake Union campus by the waterfront is now com- plete and will bring an estimated 3,700 employees to the neighborhood along with another block that will feature a 322,000 square foot office building with room for an additional 1,800 employees for the area. Google is expanding aggressively both in Seattle and on the Eastside to compete with other major tech giants that are expanding in this market. Googles recent expansion on the eastside campus in Kirkland The Spheres - Amazon Headquarters of 440,000 square feet will provide space for over 2,5000 addi- Urban office meets nature. Over 40,000 plant species from the tional employees which Google is expected to have over 1.25 cloud forest regions of over 30 countries. The Spheres have million square feet of office in the Puget sound region. become a recognoizable landmark and tourist attraction. regional overview based onInfrastructure 2019,USN #4 #3 #2 based onEconomy 2019,USN #1 based onHealthCare &Education 2019,USN washington state, bythenumbers Washington State’sranking BestOverall State2019,USN Washington state’s ranking onthe Best Statesoverall Ranking Washingtonstate’s ranking overallthe Best States on Ranking Washington state’s ranking on the Best Statesoverall Ranking ogies. Sound entrepreneurialism; widespread adoption ofdigital technol - Foundation,based onStrong Puget aviation and software exports; bypublished Index” the Information Technology andInnovation #3 #4 States forBusinesses2019,Forbes and #8Overall2019, Regulatory#8 forEnviornment mate, Best Seattle rankLabor Supply, intheUSfor Economic #6for Cli Washington State’s rank inthelatest“State New Economy - The Northwest Region is built on the strength of industries competing in the knowledge- and international-based economy. In fact, foreign investment accounts for 4.1% of the state’s private industry employment with foreign- controlled businesses employing over 105,600 Washington workers. Combine that with the superb quality of life in the Pacific Northwest, a world-class arts scene, professional sports teams, and culinary delights from some of the country’s top chefs, and you’ve got a great place to do business where your employees will be happy to call “home.”

Our region’s strength includes » Strategic location w/regard to the Pacific Rim » Well-educated population » Nonstop international flights » Strong business climate » Deep-water ports » Vibrant international communities » Reliable transportation connection to the rest of the U.S. » Vast experience in international trade

~ Economic Development Council johnny huynh ryan cornish Senior Associate Vice President 425.250.3284 425.250.3285 [email protected] [email protected] relationship focused.results driven focused.results relationship

First Western Properties, Inc. | 425.822.5522 © First Western Properties, Inc. DISCLAIMER: The above information has been secured from sources believed to be reliable, however, no representations are made to its accuracy. Prospective tenants or buyers should consult their professional advisors 11621 97th Lane NE Kirkland, WA 98034 | fwp-inc.com and conduct their own independent investigation. Properties are subject to change in price and/or availability without notice.