Hunter Trevor APARTMENTS + SINGLE-FAMILY RESIDENCE 1421 - 1423 4th Ave W | , WA 98119

Hunter Trevor Apartments + Single-Family Residence 9-UNIT MULTI-FAMILY + SFR | INVESTMENT OPPORTUNITY | QUEEN ANNE NEIGHBORHOOD

TED WINSKILL PRESTON SHINN 1218 Third Avenue | Suite 2200 EXCLUSIVELY 206.397.8098 425.890.5395 Seattle, WA 98101 LISTED BY [email protected] [email protected] www.orioncp.com 9 Unit | Apartment

Hunter Trevor APARTMENTS + SINGLE-FAMILY RESIDENCE

Table of Contents Investment Highlights...... 3 Property Overview...... 4 Local Maps...... 10 4 Bed | SFR Market Overview...... 12

HUNTER TREVOR APARTMENTS + SFR | OFFERING MEMORANDUM | 2 Investment Highlights Investment Summary PRICE: $4,450,000 PRO FORMA CAP RATE: 3.48% PRICE/UNIT: $355,556 *(9 APARTMENT UNITS: 1-2 BEDROOMS) *ASSUMING SFR PRICE OF $1,250,000 PRICE PER SF BLDG: $531 (2 BUILDINGS COMBINED) PRICE PER SF LAND: $644 GRM: 19.7 (2 BUILDINGS COMBINED) Property Summary PROPERTY: HUNTER TREVOR APARTMENTS + STAND-ALONE SFR ORION Commercial Partners is excited to offer for sale the Hunter Trevor Apartments located ADDRESS: 1421-1423 4TH AVE W, SEATTLE, WA 98119 at 1421-1423 4th Ave W, Seattle WA. This rare multi-family opportunity has a 3-story, 6,120 SF, 9-unit apartment building, along with a detached 4-bedroom, 2,267 SF single-family LOT SIZE: 6,912 SF residence (SFR). The apartment & SFR combine for 10 units, comprising of is (6) 1-bedroom BUILDINGS AREA: (9) APARTMENTS: ~ 6,120SF units, (3) 2-bedroom units, and (1) 4-bedroom (SFR). There are 4 surface parking stalls and 11 (1) SINGLE-FAMILY RESIDENCE: ~ 2,267SF covered parking stalls. NET RENTABLE AREA: ~ 8,387 SF Ideal for the property investor looking to move to a traditional home in the attractive Queen BUILDINGS: 1 x 3-STORY BUILDING + 1 x 3-STORY SFR Anne area while maintaining a passive income. While most investment properties would require an onsite owner to move into a duplex or apartment themselves, the Hunter Trevor APARTMENT UNIT MIX: 9 UNITS: 1 & 2 BEDROOM/1 BATH property is a rare gem that allows the owner to live in a beautiful single-family residence in APARTMENT UNIT SIZE: (3) 580 SF, (3) 640 SF & (3) 820 SF (680 SF AVERAGE) one of Seattle’s most sought after neighborhoods while earning a steady income each month from the 9-unit apartment building. NEIGHBORHOOD: QUEEN ANNE

• Highly desirable Queen Anne location ZONING: LR1 (M1) YEAR BUILT: 1925 (SINGLE-FAMILY RESIDENCE) • Walking distance to Trader Joe’s, Top Pot Donuts, and all of Upper Queen Anne 1990 (APTS. UPGRADED 2001 & 2019 WHEN VACANT) shopping and dining CONSTRUCTION: WOOD FRAME • Only minutes away from downtown Seattle. PARCEL NUMBER: 173280-1435, KING COUNTY

HUNTER TREVOR APARTMENTS + SFR | OFFERING MEMORANDUM | 3 Property Overview

UNIT OVERVIEW

Hunter Trevor Apartments is comprised of two buildings; one 3-story, 9 unit apartment building, and one detached 4-bedroom single-family residence. This property offers downtown living conveniences with a highly desired suburban neighborhood feel. The SFR was built in 1925 with the apartment building added in 1990.

• Non-smoking building

• Hardwood floors in select units

• Convenient covered carport parking

• High-speed internet access

• Appliances In Units: Dishwasher, Range / Oven, Refrigerator, Washer/Dryer

• Onsite secure storage units

• Pet friendly

• Walk Score® Very Walkable (86) & Transit Score® Good Transit (60)

UNIT SCHEDULE

UNIT TYPE APPROX. SF TOTAL SF

3 1 Bedroom/1 Bathroom 580 1,740

3 1 Bedroom/1 Bathroom 640 1,920

3 2 Bedroom/1 Bathroom 820 2,460

1 4 Bedroom/1.5 Bathroom 2,267 2,267

TOTAL: 10 AVERAGE: 839 8,387

HUNTER TREVOR APARTMENTS + SFR | OFFERING MEMORANDUM | 4 Property Overview | PROPERTY PHOTOS

HUNTER TREVOR APARTMENTS + SFR | OFFERING MEMORANDUM | 5 Property Overview | INTERIOR PHOTOS (APARTMENT)

HUNTER TREVOR APARTMENTS + SFR | OFFERING MEMORANDUM | 6 Property Overview | INTERIOR PHOTOS (SFR)

HUNTER TREVOR APARTMENTS + SFR | OFFERING MEMORANDUM | 7 Property Overview | SITE PLAN

DECK

3RD FLOOR

2ND FLOOR

1ST FLOOR SINGLE-FAMILY RESIDENCE

PARKING

HUNTER TREVOR APARTMENTS + SFR | OFFERING MEMORANDUM | 8 Property Overview | APARTMENT FLOOR PLAN

Dining Bedroom 2 Bedroom Kitchen Room

Units: 102, 202 & 302 Living Room ~580 RSF Bathroom Units: 103, 203 & 303 Living Room ~820 RSF

Dining Room

Exterior Stairs Kitchen Bathroom oom

Living Room Bathr

Units: 101, 201 & 301 ~640 RSF

Bedroom 1 Bedroom Kitchen Dining Room

HUNTER TREVOR APARTMENTS + SFR | OFFERING MEMORANDUM | 9 Local Maps | LOCAL AMENITIES

BOSTON ST

Queen Anne Elementary School

McClure Middle School

West Queen Anne Playfield QUEEN ANNE AVE N

SUBJECT PROPERTY

W GALER ST

HUNTEROFFERING TREVOR MEMO APARTMENTSRANDUM +| SFRChase | Bank OFFERING Comme MEMORANDUMrcial Condo | 10 Local Maps | COMMUTER MAP

SEATTLE CBD 8 MINUTE DRIVE SEATTLE CENTER 5 MINUTE DRIVE

CLIMATE PLEDGE ARENA 5 MINUTE DRIVE

4TH AVE W W LEE ST

HUNTER TREVOR APARTMENTS + SFR | OFFERING MEMORANDUM | 11 Market Overview | ABOUT QUEEN ANNE

SUBJECT PROPERTY This hilly neighborhood is filled with iconic sights, lovely views, cool boutiques, and family- friendly adventures. Queen Anne sits on the highest hill in the city and became a popular spot for the city’s early economic and cultural elite to build their mansions, and the name derives from the architectural style typical of many of the early homes. Now a mix of commercial 1 MILE 3 MILES hubs and residential streets; Queen Anne is an affluent neighborhood and geographic 5 MILES feature in Seattle, northwest of downtown. Queen Anne is bounded on the north by the Fremont Cut of the Ship Canal, beyond which is Fremont; on the west by 15th and Elliott Avenues West, beyond which is RADIUS 1 MILE 3 MILES 5 MILES Interbay, Magnolia, and Elliott Bay; on the east by and Aurora Avenue North, POPULATION: beyond which is Westlake. As a neighborhood toponym, Queen Anne includes Lower Queen 2021 Population 40,308 284,225 508,424 Anne, also known as Uptown, the area at the southern base of the hill, just north and west 2025 Population Projection 43,993 310,776 549,567 of Seattle Center. Annual Growth 2010-2020 4.0% 4.3% 2.9% Attraction-rich Seattle Center, in Lower Queen Anne, hosts cultural festivals; location of Annual Growth 2020-2025 1.8% 1.9% 1.6% the iconic Space Needle, plus the Museum of Pop Culture, KEXP Radio Station, and Chihuly Median Age 37.2 36.4 36.6 Garden and Glass -not to mention- the Climate Pledge Arena, the home to NHL’s 32nd club Bachelor's Degree or Higher 65% 61% 60% the Seattle Kraken (inaugural season being in 2021-22). HOUSEHOLDS: 2021 Households 22,149 149,967 244,661 The North Queen Anne area is home to Seattle Pacific University and is located near the 2025 Household Projection 24,012 163,417 263,773 Fremont Cut, a canal that links Lake Washington to the . This side of Queen Annual Growth 2010-2020 2.6% 3.1% 2.1% Anne connects downtown with Westlake, Interbay, Fremont and, Ballard, along with major Annual Growth 2020-2025 1.7% 1.8% 1.6% employers like Expedia, Google and, Tableau. Owner Occupied 8,001 46,404 97,495 Renter Occupied 14,148 103,562 147,166 The Seattle Parks and Recreation Department maintains 24 parks on Queen Anne. Kerry Park, Renter Occupied 2,983 11,455 99,474 located on Highland Drive, covers a mere 1.26 acres, but boasts one of the most attractive 2021 AVG HOUSEHOLD INCOME $141,183 $126,877 $129,738 views of the city, with downtown at the center of focus along with the Space Needle, and on 2021 MEDIAN HOUSEHOLD INCOME $111,481 $96,444 $100,074 clear days, Mount Rainier in the background. 2021 HOUSEHOLDS BY HOUSEHOLD INC: $25,000 - 50,000 2,579 19,382 30,484 $50,000 - 75,000 2,957 20,136 32,541 Queen Anne gives business owners, $75,000 - 100,000 3,020 17,895 27,927 $100,000 - 125,000 2,504 15,020 24,880 residents and visitors a balance of the $125,000 - 150,000 2,004 12,013 19,914 $150,000 - 200,000 2,879 16,263 28,695 best of what Seattle offers. $200,000+ 4,837 29,143 48,915

HUNTER TREVOR APARTMENTS + SFR | OFFERING MEMORANDUM | 12 Market Overview | ABOUT SEATTLE

Seattle, Washington is a coastal seaport city in King County. With an businesses, especially in green building and clean technologies: it estimated 747,300 residents as of 2019, Seattle is the largest city in was ranked as America’s No. 1 “smarter city” based on its government both the State of Washington and the Pacific Northwest region of policies and green economy. North America. It has been ranked number one for growth this decade Very large companies dominate the business landscape in the with the fastest growth rate amongst the 50 largest states. The “Emerald City”. Four companies on the 2018 Fortune 500 list of Seattle metropolitan area of around 3.6 million inhabitants is the 15th the United States’ largest companies, based on total revenue, are largest metropolitan area in the United States. The city is situated on headquartered in Seattle: Internet retailer Amazon.com, coffee chain a narrow isthmus between Puget Sound and Lake Washington, about Starbucks, department store Nordstrom, Weyerhaeuser, the forest 100 miles (160 km) south of the Canada–United States border. products company, and freight forwarder Expeditors International Seattle is the region’s commercial and transportation hub of Washington. Other Fortune 500 companies popularly associated and the center of manufacturing, trade, and finance. The Port with Seattle are based in nearby Puget Sound cities. Boeing, has of Seattle, which also operates Seattle–Tacoma International large aircraft manufacturing plants in Everett and Renton, which Airport, is a major gateway for trade with Asia and cruises to Alaska, makes it the largest private employer in the Seattle metropolitan and is the 8th largest port in the United States in terms of container area. Warehouse club chain Costco, the largest retail company in capacity. Seattle’s importantly diversified industries include Washington, is based in Issaquah. Microsoft is located in Redmond. aircraft, lumber and forest products, fishing, high technology, food Finally, Bellevue is home to truck manufacturer Paccar. Other major processing, boat building, machinery, fabricated metals, chemicals, companies in the area include Nintendo of America in Redmond, pharmaceuticals, and apparel. the T-Mobile US in Bellevue, Expedia Inc. in Bellevue and Providence Health & Services — the state’s largest health care system and fifth The city’s gross metropolitan product was $356 billion in 2018, largest employer — in Renton. The city has a reputation for heavy making it the 4th largest metropolitan economy in the United States. coffee consumption; coffee companies founded or based in Seattle Though it was also affected by the recession, Seattle has retained a include Starbucks, and Seattle’s Best Coffee. There are also many comparatively strong economy, and remains a hotbed for start-up successful independent artisanal espresso roasters and cafés.

The “Emerald City” is extremely multicultural and is 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 and entrepreneurial.

HUNTER TREVOR APARTMENTS + SFR | OFFERING MEMORANDUM | 13 Market OverviewM L G | PUGET SOUND ECONOMY

G L The Puget Sound Region B G IS HOME TO SOME OF THE WORLD’S MOST SUCCESSFUL BUSINESSES # L 1 KEY SECTORS: Aerospace | Agriculture/Food Manufacturing | Clean Technology | Military Services Washington P R Information & Communication Technology | Forest Products | Life Science/Global Health Ranked #1 E Economy UNIVERSITY Nationwide DISTRIT LARGEST Source: WalletHub FREMONT EMPLOYERS 5 EMPLOYEES EMPLOYEES M

Q A 70,000 EMPLOYEES SOUTH LAE M P EPEDIA UNION Joint Base +- 5 Lewis-McChord EMPLOYEES EMPLOYEES P 56,000 EMPLOYEES H

M V B SEATTLE BD M P 53,000 EMPLOYEES S 113 L

S

EMPLOYEES L 47,000 EMPLOYEES

L

PIONEER SQUARE

M B B H 25,000 EMPLOYEESM I EMPLOYEES E S Washington State the Fastest Growing Economy in the Nation R V D G Source: The Washington Post HUNTER TREVOR APARTMENTS + SFR | OFFERING MEMORANDUM | 14 Hunter Trevor APARTMENTS + SINGLE-FAMILY RESIDENCE 1421 - 1423 4th Ave W | Seattle, WA 98119

The 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.

TED WINSKILL PRESTON SHINN 1218 Third Avenue | Suite 2200 EXCLUSIVELY 206.397.8098 425.890.5395 Seattle, WA 98101 LISTED BY [email protected] [email protected] www.orioncp.com