The Frelingford Corner Hope Gospel Hall - Adaptive Reuse/Redevelopment Offering Memorandum

THE FRELINGFORD CORNER HOPE GOSPEL HALL - ADAPTIVE REUSE/REDEVELOPMENT OFFERING MEMORANDUM

4000 Whitman Avenue N, Seattle WA The Frelington Corner Adaptive Reuse/Redevelopment Contents

Executive Summary ...... 04

The Offering ...... 06

Location Overview ...... 08

The Property ...... 19

Adaptive Reuse/Redevelopment ...... 25

Rent & Sale Comparables ...... 27

Exclusive listing broker Edward Krigsman 8,352 35 EXISTING SQUARE AVG TIMES/DAY FREMONT FOOTAGE BRIDGE IS RAISED

27 15,162 MILES IN REDEVELOPMENT BURKE-GILMAN TRAIL SQUARE FOOTAGE The Frelingford Corner Adaptive Reuse/Redevelopment Executive Summary “Cycling the Burke-Gilman Trail is an excellent The view from…where old Wallingford meets way to savor sea-bound, lake-dappled Seattle and newfangled Fremont is pure “only in Seattle” its luscious parks. As cyclists roll through the city, they whiff the evergreen trees, ﬁsh-tainted salty magic: Bikers and runners on the Burke-Gilman air or whatever is sizzling in the neighborhood Trail are framed by a backdrop of downtown high- café’s skillet.” Elee Thalheimer, Lonely Planet, April 21, 2015 rises that seem to ﬂoat on the steel gray water of Lake Union, punctuated by the exclamation mark of the Space Needle.

Jenny Cunningham, Seattle Magazine, February 2013 EXECUTIVE SUMMARY 6

The Offering Address 4000 Whitman Avenue N Neighborhood Wallingford You are invited to consider, for adaptive reuse or redevelopment, a Price $2,500,000 prime 5040 SF corner-lot property in Seattle’s conveniently located and services-rich Wallingford neighborhood, adjacent to the Existing Building SF (KCAR) 8,352 SF booming Fremont technology hub, two miles from the University of Washington, and less than three miles from South Lake Union, Potential Interior Redevelopment SF 13,462 SF the home base of Amazon, the city’s biggest private employer. Additional Potential Basement Garage SF 1,520 SF Apart from its proximity to major workplaces the location also offers a unique combination of arterial access, via both Interstate Price Per Total Max Revelopment SF $162 5 and State Route 99, to the Greater Seattle area, and a rich urban environment, with all amenities within strolling distance (Walk King County Tax ID 1931300185 Score 90, Walker’s Paradise). Maximum Potential Redevelopment SF 15,162 SF The ideally located site holds an 8352 SF notable existing Lot Size 5,040 structure, the Hope Gospel Hall Church, built in 1907-08 as the Fremont Swedish Mission Church. Its Swedish-born Pioneer Potential Rooftop Deck SF 4000+ SF architect, John Alfred Creutzer (1874-1929), also designed what is 115’ x 38’ now the First Covenant Church in Capitol Hill and the well-known Existing Building Floorplate FT Medical-Dental Building in downtown Seattle. Existing Building Height FT (Grandfathered) 46’ FT Opportunities abound for redeveloping the site; just bring your Potential Elevated Main Floor Terrace SF 300 SF imagination and your architect. The site’s RSL zoning, coupled with its existing non-confirming use allowing for a church, welfare or Lot Size 5,040 religious service, indicates a variety of future functions, including Zoning RSL (M) the possibility of changing to a new non-conforming use. 2020 Property Taxes $8,695 The existing building’s grandfathered height of 46 ft may, with application to the city, permit a redeveloped interior area of 13462 SF, including possibly a 4000+ SF rooftop deck for panoramic Lake Union views, and a 300 SF main-level elevated outdoor terrace, for an effective FAR of 2.72. The addition of a 1520 SF underground garage would bring the total redeveloped area to 15162 SF. Using the current zoning, convert the existing non-conforming use into a conforming use as a residential structure. Such uses might include a substantially scaled single-family home (elevations provided), four spacious townhomes with ADUs, or perhaps four congregate dwellings with as many as 32 affordable, or even 40 market-rate, rental apartments. Varied Adaptive Redevelopment Vibrant Panoramic Alternatively, the existing structure, with its many appealing Reuse Options Potential Views architectural features and venerable history, could be creatively repurposed for social services within the existing non-conforming use, perhaps as an elegant events venue or welcoming civic or rebuilding or developing Potential total square from new rooftop deck(s) community event space with new non-conforming use. The seller for sale or rental income footage of new buildings in all redevelopment makes no representations as to verified future uses. Instead, property is 15,162 SF options the buyer is encouraged to directly investigate and verify their preferred specific future use for the site through the City of Seattle. 7 EXECUTIVE SUMMARY

GREENLAKE Vibrant and Connected

Once a sleepy railroad suburb of Seattle, defined mainly by its proximity to University of Washington, characterful Wallingford has enjoyed almost uninterrupted stability and prosperity for a hundred years. This classic Seattle WALLINGFORD neighborhood occupies an advantageous position on the north shore of Lake Union, with magnificent southerly views across the lake to the downtown skyline. Flanked by the U DISTRICT city’s two major north-south arteries, I-5 and SR 99/Aurora Avenue, Wallingford feels more central than most parts FREMONT of the city. Aurora Avenue, mere blocks from the subject property, offers RapidRide public transportation in both directions. Conveniently placed as it is for highway access, LAKE Wallingford also boasts a privileged connection to another WASHINGTON active thoroughfare – the paved, multi-use Burke-Gilman Trail. Enjoyed each day by thousands of bicycle commuters and outdoor enthusiasts, the Trail hugs the Lake Union shoreline at Wallingford’s southern edge and provides a scenic route to UW, Children’s Hospital and other Northeast LAKE Seattle destinations. UNION QUEEN ANNE Abutting Wallingford on its indistinct western border, close to the subject property, Fremont has rapidly morphed from industrial warehouse district to seat of the counterculture MADISON to thriving technology hub. The data visualization company PARK Tableau (which contributes software to the Burke-Gilman CAPITOL Trail bicycle counters) has built its main campus in Fremont, HILL and both Google and Adobe have a significant Fremont presence. The three companies are together responsible for over 4000 fulltime employees, who in turn bring to the area a rising demand for restaurants, bars, cafes, services – SOUTH and, of course, places to live. LAKE UNION

SEATTLE 22 min 18 min 4 min ELLIOT BAY MINUTES TO MINUTES TO UW ON MINUTE WALK TO AMAZON HQ BY BIKE BURKE-GILMAN TRAIL BY BIKE TABLEAU SOFTWARE The Frelingford Corner Adaptive Reuse/Redevelopment Location LOCATION 9

Investing In Seattle

A nationally ranked Top Five investment market, Seattle boasts a strong and resilient economy. Economic growth fuels a thriving market in which the demand for rental units and new homes is expected to continue increasing. As they do in Manhattan and in the peninsular Bay Area, geographic and topographic barriers limit Seattle’s land supply and concentrate demand in thriving urban villages and neighboring suburbs.

Over the last decade the Puget Sound region has outperformed the nation in employment, population, and personal income growth and enjoyed a commensurately low employment rate. A distinctly diverse, skilled, and educated workforce attracts high- proﬁle corporations, both established and burgeoning, and the city has long been home to top-ranked research institutions.

The local demographic includes educated high-income singles and dynamic two-career couples earning mid-to-upper-scale salaries. Aging Baby Boomers, the most afﬂuent demographic category, make up over 40 percent of Seattle’s homeowning population. LOCATION 10

Transit Times to Major Seattle BROADVIEW Employment Nodes

NORTHGATE

NORTH BEACH

23 MINUTES GREENWOOD WEDGWOOD REDMOND 87,500 EMPLOYEES 8 MINUTES GREENLAKE BALLARD UNIVERSITY DISTRICT 60,000 2 MINUTES FREMONT EMPLOYEES 20,000 U DISTRICTCTCT EMPLOYEES FREMFFREMONT

LAKE WASHINGTON 8 MINUTES MAGNOLIA

SLU LLAKE QQUEENENNA ANNANNENENE 60,000UNIONUNUNNION MADISON 14 MINUTES EXPEDIA EMPLOYEES PARK 4,500 CAPITOL HILL LAKE EMPLOYEES WASHINGTON SOUTH LAKE UNION BELLEVUE 20 MINUTES 145,000 SEATTLEATTLEATATTATTTTTLETTLLLEE EMPLOYEES 12 MINUTES ELLIOT BAY SEATTLE CBD 113,400 PUGET EMPLOYEES SOUND LOCATION 11

Residential Real Estate - Median Price Per SF Wall-Fre-Gre Flourishing Frelingford $600

Affectionately named “Frelingford” (a portmanteau of $550 Fremont and Wallingford), the bustling Stone Way corridor that includes the subject property has seen a spate of new construction and development in the last few years, driven $500 by growing demand and fueled by progressive upzoning in and around the Fremont Urban Village. $450

Long-term residents of the area already know what it means to be the beneﬁciaries of visionary urban planning. Two $400 iconic 1970s public projects centered on the Wallingford/ Fremont neighborhood became models of urban reclamation, widely imitated throughout the country: Gas $350 Works Park and, of course, the Burke-Gilman Trail. Creative leadership and community collaboration transformed a $300 1-2015 1-2016 1-2017 1-2018 1-2019 1-2020 toxic industrial waste site, formerly a synthetic-gas plant, Wall-Fre-Gre*: Residential into one of Seattle’s most recognizable landmarks, freeing Each data point is three months of activity. Data is from August 7, 2020. its stunning location on a promontory over Lake Union to once again bring joy and solace to the city. Around the same time, Seattle launched the development of one of Residential Real Estate - Median Supply of Inventory (Closed) the earliest rail-to-trails, on another industrial vestige, the Wall-Fre-Gre right-of-way of the Seattle Lakeshore & Eastern railroad, 2.5 which became the Burke-Gilman Trail – named for two of the Pioneer-era sponsors of the original railroad. These are urban green spaces in the truest sense. 2.0

Also within jogging distance, 90-acre Woodland Park, known for its playﬁelds, tennis courts, cross-country course, rose 1.5 garden, and zoo, and the 50,000-year-old glacial reservoir, Green Lake, ringed by a 2.8 mile paved path for walking, running, cycling or rollerblading, establish the area as a 1.0 recreational nirvana. Rent a canoe or paddleboard in Green Lake on a lazy summer afternoon; or run an invigorating autumnal 5K race at Woodland Park. When social distancing is necessary the many surrounding parks and green spaces 0.5 relieve urban density and promise serenity and relaxation.

0.0 1-2015 1-2016 1-2017 1-2018 1-2019 1-2020 Wall-Fre-Gre*: Residential Each data point is three months of activity. Data is from August 7, 2020. LOCATION 13

Neighborhood Amenities

6 Restaurants, Cafes & Bars 1. Kamonegi 7. Tilth GREEN LAKE 2. The Whale Wins 8. Café Turko 3. Joule 9. Vif Wine & Coffee 4. Rockcreek Food & Spirits 10. Fremont Brewing’s Urban 5. Uneeda Burger Beer Garden PHINNEY RIDGE MERIDIAN 6. Westward

3 Grocery / Shopping Woodland Dick’s Drive-In 1. PCC Community Market Park Zoo 2. Markettime Foods 3. QFC 4. Durn Good Grocery 5 5 5. Wallngford Farmers Market

3 WALLINGFORD 5 7 9 2 Parks 4 Fremont Troll 4 1. BF Day Playﬁeld 2. Gasworks Park 1 4 3. Woodland Park 1 4. Wallingford Playﬁeld FREMONT AURORA AVE N 5. Fremont Canal Park 3 4 6. Green Lake Park 5 6 FREMONT CUT 1 8 3 1 2 Fitness 2 10 Flow Fitness NORTHLAKE 1. 2. Anytime Fitness 3. NW Fitness Project 2 4. Bala Yoga Fremont 5. Kirchoff Fitness LAKE UNION

1.3 miles 0.7 miles 1.1 miles 0.5 miles View Interactive Map WESTWARD PCC MARKET GAS WORKS PARK SEA WOLF BAKERS 4000 WHITMAN AVENUE N, SEATTLE WA LOCATION 12

Other amenities, from gourmet markets to yoga studios, bakeries to boutiques, are all within easy reach.

The European-style open-air Fremont Sunday Market attracts visitors from all over Seattle and beyond with artisanal crafts, vintage wares and tasty treats. The local restaurant scene deserves particular mention as a crucible for culinary and atmospheric experimentation. Adventurous restaurateur Renee Erickson’s rustic eatery The Whale Wins serves locally sourced picnic-style small plates; next door, Chef Rachel Yang dazzles with piquant Korean-fusion fare. Hamptons-inspired Westward, on Lake Union, charms with an outdoor bar and Adirondack chairs cozily arranged around ﬁre-pits; you can arrive by boat. Both ﬁne dining and casual eats are well represented in the neighborhood, as is global cuisine. Try Café Turko for Turkish mezze, Kabul for Afghan kabobs and basmati rice and Kamonegi for Japanese soba – cosmopolitan living in this deeply rooted, yet rapidly evolving, part of Seattle. LOCATION 14

Demographics

Demographic data from 2019-20 show a mix of ages, educational qualifications and household incomes, and a relatively high level of affluence, in the area surrounding the subject property. Income distribution closely parallels King County ranges, with the majority of households earning $75000-$200000 a year. The median household income is $113899, compared with $102426 for King County. The median home value is $844963, somewhat higher than the King County median of $662137. 60% of homes in the subject area have a value of $500K-$1M, versus 46% in Seattle- Tacoma. 62.6% of dwelling units are renter-occupied, as distinct from 42% in Seattle-Tacoma. 75% of the population falls within the age range 25-52; 30% hold an advanced degree, 45% have a bachelor’s degree, 18% have some college, while the rest have a high school diploma or no diploma. All demographic markers confirm that the area surrounding the subject property is moderately prosperous and socio-economically diverse, with a significant demand for rental properties in manty classes, including affordable, market-rate, SEDUs and luxury. Demand for rental housing is matched by demand for market- rate for-sale residences, including such product types as urban townhomes, priced in the $800K-$1.2M range, and single family homes, currently priced in the $1.8M-$2.3M range. RADIUS → 1 MILE 3 MILE 5 MILE

RADIUS → 1 MILE 3 MILE 5 MILE 2020 Avg Household Size 1.90 1.80 1.90

Population 2020 Households by Income 2025 Projection 36,378 358,550 579,102 $100,000 - $125,000 1,731 17,200 25,778 2020 Estimate 33,983 331,224 536,537 $125,000 - $150,000 1,608 13,669 20,397 2010 Census 28,549 253,200 421,043 $150,000 - $200,000 2,028 19,041 29,125 Households by Marital Status $200,000+ 3,262 31,968 51,171

Married 4,531 41,350 70,681 Married No Children 2,793 26,387 44,563 2019 Housing Value Married with Children 1,738 14,963 26,119 $1,000,000+ 2,163 18,288 29,100 LOCATION 15

KING 2020 Household Income RADIUS COUNTY INDEX

$113,899 $102,426 111 Median Household Income 20.0% Median Home Value $844,963 $662,137 125

16.0% 2020 Housing Value

12.0% Above 1MIL

500K-1MIL 8.0%

0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0%

4.0% Radius King County

VACANCY & MARKET ASKING RENT PER UNIT 0.0% 75K-100K 100K-125K 125K-150K .. 150K-200K Above 200K

Radius King County

CURRENT PRIOR RATE OF CHANGE

Vacancy Rate 5.7% 5.9% - 0.2%

Market Rent/Unit $1,779 $1,842 - 3.4%

Market Sale Price/Unit $397K $374K + 6.3%

Market Rental Cap Rate 4.2% 4.3% - 0.1% LOCATION 16

SEATTLE- RADIUS TACOMA INDEX 2019 Highest Education Level

2020 Occupied Units

Owner Occupied 3,180 517,224 61 Owner Occupied Rate 32.3% 52.8% 61 Renter Occupied 6,157 410,976 149 Renter Occupied Rate 62.6% 42.0% 149 No Diploma

HS Diploma 2020 Housing Values Some College Value 400K-500K 151 70,577 35

400K-500K Rate 4.7% 13.6% 35 Bachelors Degree Value 500K-1MIL 1,958 238,819 133 Advanced Degree 500K-1MIL Rate 61.6% 46.2% 133 Value Above 1MIL 899 97,160 150 Above 1MIL Rate 28.3% 18.8% 150

2020 Household Vehicles

2 Vehicles

1 Vehicle

0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0% 45.0% 50.0% 55.0%

Radius Seattle-Tacoma LOCATION 17

2020 Population Distribution 2020 Household Age

Age 75-79

2.7% 1.6% 2% 7.5% Age 70-74

Age 65-69 11.6%

28.3% Age 60-64

Age 55-59

Age 50-54

16.8%

Age 45-49 29.5%

Age 40-44 Age 15-24 Age 55-64

Age 35-39 Age 25-34 Age 65-54

Age 30-34 Age 35-44 Age 75-84

Age 45-54 Age 85+ Age 25-29

0% 2% 4% 6% 8% 10% 12% 14% 16% 18%

Radius King County 10 Minutes to Downtown Seattle

Aurora Bridge Gasworks Park Lake Union

Stone Way N

4000 Whitman Ave N The Frelingford Corner Adaptive Reuse/Redevelopment The Property THE PROPERTY 20

Existing Building: Floorplan 4000 WHITMAN AVENUE N

LOWER LEVEL

UPPER LEVEL PLOT PLAN THE PROPERTY 21

Existing Building: Elevation 4000 WHITMAN AVENUE N

SOUTH ELEVATION

Download Floorplan & Elevation 4000 WHITMAN AVENUE N, SEATTLE WA THE PROPERTY 22

Exterior Interior THE PROPERTY 23

Storied Legacy: 20th Century

The existing 1908 building by a noted architect makes a worthy candidate for restoration. The asymmetrical façade, dominant front-facing gable, pedimented entrance and round tower announce its relation to the Queen Anne style that evolved in the US in the late nineteenth and early twentieth centuries. The exterior is relatively austere and unadorned, without the bay or oriel windows and ornate surface detailing that generally characterize Queen Anne buildings. Perhaps it would not be too fanciful to see in the steeply gabled lines and plain front a reference to the National Romantic style that was then taking hold in the architect’s native Sweden.

Swedish Tabernacle, circa 1925, MOHAI

The new Medical Dental Building, circa 1925, pauldorpat.com THE PROPERTY 24

Storied Legacy: 20st Century

The church’s interior offers a majestic, radiantly lit nave with a soaring vaulted ceiling; the lower level contains ofﬁces, an expansive kitchen and a convivial gathering area. Little work would be needed to equip the building as a theatrical space or events venue. In fact, in one incarnation (2014-18) the former church housed the Carter Family Puppet Theatre, which delighted audiences of all ages with its colorful, hand-carved marionettes and thoughtful storytelling – a whimsical postscript to a solemn ecclesiastical history. An imaginative investor might choose this route – adapting the structure’s non-conforming use – to honor the past and afﬁrm the building’s legacy. The Frelingford Corner Adaptive Reuse/Redevelopment Adaptive Reuse/Redevelopment ADAPTIVE REUSE/REDEVELOPMENT 26

Redevelopment Potential

For a more lucrative investment option the savvy investor should look to redeveloping the property into residential units within the envelope of the existing structure. The nave’s 46-foot ceiling becomes a precious asset, providing grounds for application to the City for permission to construct up to that height and thus stretch the FAR from the 0.75 generally permitted for RSL zoning to a potential 2.72. Possible built configurations Land Use Code Review include (but are not limited to): a grand single-family residence; 18 condos (average 750 SF); 4 townhomes with ADUs (8 dwelling units, average 1705 SF); and 4 congregate dwellings with either 32 affordable Address 4000 Whitman Ave N rental apartments (average 426 SF), each fetching $900/month, or 40 market-rate rental apartments (average 300 SF) with a monthly rent of List Price $2,500,000 $1250. It should be emphasized that these examples of redevelopment Existing Building SF (KCAR) $8,352 are purely illustrative and provided, without feasibility studies, simply to indicate the wealth of possibilities inherent in the site. The seller Potential Interior Redevelopment SF 13,462 SF makes no representations as to verified future uses. Instead, the buyer $162 is encouraged to directly investigate and verify their preferred specific Price Per Total Max Revelopment SF future use for the site through the City of Seattle. Neighborhood Wallingford Maximum Potential Redevelopment SF 15,162 SF King County Tax ID 1931300185 Lot Size TBD Additional Potential Basement Garage SF 1,520 SF Potential Rooftop Deck SF 4000+ SF Existing Building Floorplate FT 115’ x 38’ Existing Building Height FT (Grandfathered) 46’ FT Potential Elevated Main Floor Terrace SF 300 SF Zoning RSL (M)

4000 WHITMAN 2020 Property Taxes $8,695 The Frelingford Corner Adaptive Reuse/Redevelopment Rent & Sale Comparables RENT & SALE COMPARABLES 28

Apartment Sale Comparables

1 2 3 GREENLAKE

WOODLAND PARK ZOO

4315 Woodland Park Ave N 1021 N 50th Street 602 N 42nd Street Seattle, WA 98103 Seattle, WA 98103 Seattle, WA 98103 WOODLAND PARK ROSE GARDEN Year Built ...... 1991 Year Built ...... 1955 Year Built ...... 1909 Sale Date ...... PENDING Sale Date ...... 05/29/20 Sale Date ...... 07/24/18 List Price ...... $2,100,000 Sale Price ...... $2,750,000 Sale Price ...... $3,650,000 2 Building SF ...... 3,894 Building SF ...... 4,316 Building SF ...... 7,472 Lot SF ...... 7,500 Lot SF ...... 5,000 Lot SF ...... 12,502 6 Price / Building SF ...... $539 Price / Building SF ...... $499 Price / Building SF ...... $489 WALLINGFORD 4

5 AVE N AURORA 1

4 5 6 3

FREMONT

4000 Whitman Ave N

FREMONT CUT 4435 Phinney Ave N #1-14 4238 Evanston Ave N 4616 Fremont Ave N Seattle, WA 98103 Seattle, WA 98103 Seattle, WA 98103

Year Built ...... 1928 Year Built ...... 1959 Year Built ...... 1950 Sale Date ...... 10/08/19 Sale Date ...... 06/27/17 Sale Date ...... 12/16/19 Sale Price ...... $3,480,000 Sale Price ...... $4,170,000 Sale Price ...... $4,725,000 Building SF ...... 10,181 Building SF ...... 9,990 Building SF ...... 8,285 Lot SF ...... 5,000 Lot SF ...... 7,455 Lot SF ...... 7,400 Price / Building SF ...... $342 Price / Building SF ...... $417 Price / Building SF ...... $570 NORTH QUEEN ANNE

LAKE UNION RENT & SALE COMPARABLES 29

New Townhouse Comparables

1 2 3 GREENLAKE

ZOO

MERIDIAN

926 N 35th Street 4406 Francis Ave N #A 3927 2nd Ave NE WOODLAND Seattle, WA 98103 Seattle, WA 98103 Seattle, WA 98105 PARK ROSE GARDEN Year Built ...... 2019 Year Built ...... 2019 Year Built ...... 2018 Sale Date ...... 03/06/2 Sale Date ...... 05/02/1 Sale Date ...... 10/31/1 Sale Price ...... $1,295,950 Sale Price ...... $1,249,000 Sale Price ...... $1,240,000 Building SF ...... 1,751 Building SF ...... 2,046 Building SF ...... 1,706 WALLINGFORD Lot SF ...... 1,333 Lot SF ...... 800 Lot SF ...... 4,000 Price / Building SF ...... $740 Price / Building SF ...... $611 Price / Building SF ...... $727 5 2 AVE N AURORA

4 5 6 FREMONT 4000 Whitman Ave N 4 3

6 FREMONT CUT 1 3921 2nd Ave NE 4428 Evanston Ave N 3613 Whitman Ave N Seattle, WA 98105 Seattle, WA 98103 Seattle, WA 98103

Year Built ...... 2018 Year Built ...... 2018 Year Built ...... 2018 Sale Date ...... 08/17/1 Sale Date ...... 07/22/19 List Date ...... 06/11/20 Sale Price ...... $1,100,000 Sale Price ...... $1,015,000 List Price ...... $1,010,000 Building SF ...... 1,387 Building SF ...... 1,635 Building SF ...... 1,625 Lot SF ...... 4,000 Lot SF ...... 1,110 Lot SF ...... 1,083 Price / Building SF ...... $793 Price / Building SF ...... $621 Price / Building SF ...... $622 NORTH QUEEN ANNE

LAKE UNION RENT & SALE COMPARABLES 30

New Single Family Home Comparables

1 2 3 GREENLAKE

ZOO

MERIDIAN

4058 Latona Ave NE 4023 Latona Ave NE 410 N Bowdoin Place WOODLAND Seattle, WA 98105 Seattle, WA 98103 Seattle, WA 98105 PARK ROSE GARDEN Year Built ...... 2018 Year Built ...... 2018 Year Built ...... 2019 Sale Date ...... 11/16/18 Sale Date ...... 08/02/18 Sale Date ...... 05/02/19 Sale Price ...... $2,300,000 Sale Price ...... $2,200,000 Sale Price ...... $2,175,000 Building SF ...... 3,265 Building SF ...... 3,569 Building SF ...... 3,560 4 WALLINGFORD Lot SF ...... 4,000 Lot SF ...... 4,000 Lot SF ...... 4,800

Price / Building SF ...... $705 Price / Building SF ...... $617 Price / Building SF ...... $611 AURORA AVE N AURORA

5 1 4 5 6 6 FREMONT 2

3 4000 Whitman Ave N

FREMONT CUT

4703 2nd Ave NE 4105 Evanston Ave N 1415 N 41st Street Seattle, WA 98105 Seattle, WA 98103 Seattle, WA 98103

Year Built ...... 2020 Year Built ...... 2018 Year Built ...... 2020 Sale Date ...... 03/24/20 Sale Date ...... 04/30/18 List Date ...... 06/03/2020 Sale Price ...... $2,150,000 Sale Price ...... $2,075,000 List Price ...... $2,295,000 Building SF ...... 3,670 Building SF ...... 3,545 Building SF ...... 3,612 Lot SF ...... 4,148 Lot SF ...... 4,000 Lot SF ...... 4,000 Price / Building SF ...... $586 Price / Building SF ...... $585 Price / Building SF ...... $635 NORTH QUEEN ANNE

LAKE UNION ekreg.com

Edward Krigsman 206.387.6789 [email protected]

This Offering Memorandum has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for the Buyer’s thorough due diligence investigation. Windermere Real Estate Company makes no guarantees, representations or warranties of any kind, express or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Windermere Real Estate Company has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. References to square footage or age are approximate. Buyer must verify all information and bears all risk for inaccuracies. Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation any property to determine to Buyer’s satisfaction with the suitability of the property for Buyer’s needs. Windermere Real Estate Company excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this documents and excludes all liability for loss and damages arising there from

Inquiries and tours are to be directed to the Exclusive Listing Agents. Please do not contact the Property, Property Manager, Owner or Tenants. Offers should be delivered to the ofﬁce of the Exclusive Listing Agents, Windermere Real Estate Co. Edward Krigsman. To facilitate analysis of offers, offerors are encouraged to provide information relative to funding sources, experience in owning and operating similar properties, familiarity with the market and any other information which is likely to favorably reﬂect on the offerors ability to close this proposed transaction in a timely manner.