DOWNTOWN BELLEVUE DUPLEX KIRKLAND REDMOND

YARROW HUNTS POINT POINT OVERLAKE

MEDINA CLYDE HILL DOWNTOWN CAPITOL HILL BELLEVUE DUPLEX CROSSROADS

BELLEVUE CBD LAKE

BEAUX ARTS

MT. BAKER LAKE SAMMAMISH

MERCER ISLAND

FACTORIA

BEACON HILL OFFERING

Paragon Real Estate Advisors is pleased to announce the exclusive sale of the Downtown Bellevue Duplex. This offering presents a rare opportunity for an investor to buy into the downtown Bellevue corridor which has seen rapid growth and little to no inventory turnover in the last ten years. The building consists of 2 – 1,255 Square Foot 2BD/1.5BTH Units. The units have been renovated with laminate wood flooring, tile kitchen countertops, stainless steel appliances and updated kitchen cabinets. The property includes two storage units for each unit. The property is half a block off Main Street in walking distance to Bellevue High School, Downtown Bellevue Corporate Offices, Parks, Shopping centers and Transit centers.

NAME Downtown Bellevue Duplex

ADDRESS 124 – 128 108th Ave SE, Bellevue, WA 98004

PRICE $1,295,000

PRICE PER UNIT $647,500

PRICE PER FOOT $515.94

CURRENT GRM/CAP 19.4/3.8%

MARKET GRM/CAP 17.4/4.4%

LOT SIZE 6,200 Square Feet

ZONING R-20

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

„ Two 1,255 Square Foot townhouse units „ Put your own touch on the property with additional upgrades

„ Only Duplex with a 98004 Zip Code to become available over the „ Abundance of storage with each unit last year „ Unique split floor layout „ Each unit has a carport set back from the street allowing for tandem parking „ Block away from Downtown Bellevue

„ Convert the property back into a Single-Family home „ One block to Bellevue High School

„ Rental upside „ Private backyards AMENITIES MAP FOOD & DRINK 1. Din Tai Fung 2. Pearl Sea Food & Oyster Bar 3. Maggiano’s Little Italy 4. Earls Kitchen + Bar 5. Bake’s Place Bar & Bistro 6. Carmine’s 7. Mansoon Bellevue 8. Bellden Cafe 9. Cafe Aloe

SHOPS & SERVICES 1|2|3|4 1. Whole Foods 5 1 2. Mall 3. Trader Joe’s 8 6 9 4. Safeway 2 7 4 4 5. Bartell 3 9 3 6 8 6. LA Fitness 7 5 7. Skyline Tower Fitness Center DOWNTOWN 6 BELLEVUE DUPLEX 8. 1 5 9. REI

PARKS & SCHOOLS 7 1. Bellevue High School 2. Mercer Slough Nature Park 3. Meydenbauer Bay Park 4. Downtown Park 5. Washington International School 2 6. Bellevue Botanical Garden 7. Kelsey Creek Park BELLEVUE

Bellevue is the fifth largest city in Washington, with an MARYMOOR PARK estimated population of 145,300 (2019). Bellevue is the high-tech and retail center of the Eastside, with more than 150,000 jobs and a downtown skyline of gleaming high-rises. CROSS KIRKLAND CORRIDOR With beautiful parks, top schools and a vibrant economy, BELLEVUE GOLF Bellevue is routinely ranked among the best mid-sized CLUB cities in the country (Livability.com and 24/7 Wall Street). NEWPORT SHORES While business booms downtown, much of Bellevue retains a small-town feel, with thriving, woodsy neighborhoods and a vast network of trails. With nearly 100 parks, Bellevue is known as “a city in a park.” The city’s crime rates are consistently low.

The city is located between Lake Washington and Sammamish and is a short drive from the Cascade Mountains. People can kayak within sight of downtown in BELLEVUE DOWNTOWN the Mercer Slough Nature Park.

POPULATION MEDIAN HOUSEHOLD RENTER-OCCUPIED MEDIAN RENT INCOME HOUSING 145,300 $112,283 44% $1,855 BELLEVUE EMPLOYER MAP 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 UNIT PHOTOS PRIOR OCCUPANCY UNIT PHOTOS PRIOR OCCUPANCY OCCUPIED UNIT PHOTOS OCCUPIED UNIT PHOTOS OCCUPIED UNIT PHOTOS BUILDING PHOTOS Income and Expenses ANNUALIZED OPERATING DATA CURRENT MARKET Scheduled Gross Income $66,600 $74,400 Units 2 Price $1,295,000 Less Vacancy 3.00% $1,998 3.00% $2,232 Year Built 1967 Per Unit $647,500 Gross Operating Income $64,602 $72,168 Rentable Area 2,510 Per Sq. Ft. $515.94 Less Expenses $16,000 $14,716 Down Pmt $323,750 Current GRM 19.44 Net Operating Income $48,602 $57,452 Loan Amount $971,250 Current CAP 3.75% Annual Debt Service ($4,778/mo) $57,336 $57,336 Interest Rate 4.25% Market GRM 17.41 Cash Flow Before Tax -2.70% ($8,734) 0.04% $116 Amortization 30 years Market CAP 4.44% Principal Reduction $16,374 $16,374 Total Return Before Tax 2.36% $7,640 5.09% $16,490

UNIT CURRENT MARKET UNITS TYPE SIZE RENT RENT ANNUALIZED OPERATING EXPENSES CURRENT MARKET 124 2 Bd/1.5 Bth 1,255 $2,650 $2,900 RE Taxes 2020 Actual $8,758 $8,758 128 2 Bd/1.5 Bth 1,255 $2,670 $2,900 Insurance 2019 Actual $2,284 $1,000 2 Total/Avg 1,255 $2.09 $2.31 Utilities 2019 Actual $2,658 $2,658 Maintenance & Repairs Pro Forma $1,500 $1,500 Landscaping Pro Forma $300 $300

MONTHLY INCOME CURRENT MARKET Reserves Pro Forma $500 $500 Gross Potential Rent $5,320 $5,800 Total Expenses $16,000 $14,716 Utility Bill Back $130 $200 Parking $0 $100 Pet Income/Miscellaneous $100 $100 CURRENT MARKET Gross Potential Income $5,550 $6,200 Expense/Unit $8,000 Expense/Unit $7,358 OPERATIONS OPERATIONS Expense/Foot $6.37 Expense/Foot $5.86 Percent of EGI 24.02% Percent of EGI 19.78% SALES COMPARABLES

Downtown Bellevue Duplex 124-128 108th Ave SE, Bellevue, WA 98004 Year Built 1967 Units 2 Sales Price $1,295,000 Price/Unit $647,500 Price/Foot $515.94 4 Current GRM/CAP 19.4/3.8% Market GRM/CAP 17.4/4.4%

1 Sales Price $1,287,000 2 Sales Price $1,190,000 Price/Unit $643,500 Price/Unit $595,000 Price/Foot $545.34 Price/Foot $653.85 5 Square Feet 2,360 Square Feet 1,820 Built 1962 Built 1951 Sales Date 04.02.2020 Sales Date 03.30.2020 2148 Halleck Ave SW 1551 E Galer St 3 Seattle, WA 98116 Seattle, WA 98112 3 Sales Price $1,262,000 4 Sales Price $1,680,000 6 Price/Unit $631,000 Price/Unit $560,000 Price/Foot $450.71 Price/Foot $464.09 2 Square Feet 2,800 Square Feet 3,620 Built 1927 Built 1934 Sales Date 02.24.2020 Sales Date 11.01.2019 7 2900 Fuhrman Ave E 10924 81st Place NE Seattle, WA 98102 Kirkland, WA 98034

5 Sales Price $1,965,000 6 Sales Price $1,150,000 1 Price/Unit $491,250 Price/Unit $575,000 Price/Foot $583.95 Price/Foot $692.77 Square Feet 3,365 Square Feet 1,660 Built 1952 Built 1954 Sales Date 06.07.2019 Sales Date 01.29.2019 DOWNTOWN 121 7th Ave S 1929 Bellevue Way NE BELLEVUE DUPLEX Kirkland, WA 98033 Bellevue, WA 98004

7 Sales Price $2,320,000 Price/Unit $1,160,000 Price/Foot $544.60 Square Feet 4,260 Built 1968 Sales Date 08.09.2018 9819 SE Shoreland Dr Bellevue, WA 98004 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.