EDISON VILLAGE GREEN 530 N EDISON ST KENNEWICK, WA. TIM MCKAY Vice President O:

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1 EDISON VILLAGE GREEN 530 N EDISON ST KENNEWICK, WA TIM MCKAY O: Tim.McKay@Colliers.com DAN CHHAN O: Dan.Chhan@Colliers.com SAM WAYNE Associate O: Sam.Wayne@Colliers.com

2 THE OFFERING VALUE-ADD MULTIFAMILY INVESTMENT IN THE FASTEST GROWING SUBMARKET IN EASTERN WASHINGTON The Seattle Apartment Team of Colliers International, as exclusive listing brokers, presents Edison Village Green, a garden-style multifamily community in Kennewick, Washington consisting of 125 apartment units. Offered at an in-place 6.5% CAP rate, this investment produces significantly better returns than similarly sized assets in primary West Coast markets. Additionally, the current rents are approximately 7.5% below market, providing investors the opportunity to push rents upon renewal and achieve 10% cash-on-cash return within the first 12 months. The City of Kennewick is the fastest growing submarket in Eastern Washington and Edison Village Green is well positioned, close to jobs and walking distance to retail, schools, and recreational amenities. PRICING SUMMARY Price $9,500,000 Price/Unit $76,000 Price/NRSF $ Current Cap Rate 6.5% Market Cap Rate 7.3% Gross Rent Multiplier 8.7 PROPERTY SUMMARY Address 530 N Edison Street Kennewick, WA Parcel Number Year Built 1976 Configuration 12-2 Story Buildings Site Area 201,683 SF (4.63 acres) Density 27 units per acre Zoning RH Units 125 Parking 220 P. 2 EDISON VILLAGE GREEN

3 WALKABLE LOCATION WITH ACCESS TO FREQUENT TRANSIT INVESTMENT HIGHLIGHTS 6.51% cap rate on actual operations with immediate upside in rents and utility recovery Ability to achieve 10%+ cash-on-cash return within first 12 months Non-income tax state Great location within Kennewick, with easy access to highways and buses, and walking distance from schools, grocery stores, restaurants, and parks Kennewick had the highest job growth in Washington State in 2016 Two miles from Columbia Center Mall and the Toyota Center - over 550,000 visitors per year Kennewick s population is expected to grow 7.5% over the next five years The Columbia Valley has become the second largest wine producing region in America JOB & POPULATION GROWTH Edison Village Green is an opportunity to purchase a large, well-located apartment investment in the fastest growing submarket in Eastern Washington. Kennewick, the largest of the Tri-Cities in terms of population and employment, boasts a diverse economy, including management of the Hanford Nuclear facility and the second largest wine-producing region in America. Other major employers include Amazon, Areva, the Battelle Memorial Institute, ConAgra Foods, Lockheed Martin, Reser s Fine Foods, Simplot, Twin City Foods, and Tyson Foods. A LOCATION The immediate area surrounding Edison Village Green provides easy access for transportation and walkability. Columbia Center Mall, the largest in Benton County, and the Toyota Center, home to professional indoor football and minor league hockey, are two miles from the property. Within walking distance, one can find the Columbia River, two parks, grocery stores, restaurants, and the Tri-City Court Club, a local fitness center/water park. Highway 240, one mile from Edison Village Green, provides easy access around the Tri-Cities and beyond. POSITIVE APARTMENT METRICS Edison Village Green is a 125 unit apartment investment consisting of 90 1-bedrooms, around 600 square feet, 32 2-bedrooms, roughly 800 square feet, two 3-bedroom/2-bath units, 925 square feet, and one 4-bedroom/2-bath unit, 1,100 square feet. A new management company was hired in 2015 and has grown rent 7% over the past two years. Prodigy Management anticipates upwards of 10% further rent growth, based on market comparables, as well as increases to utility recovery income. Taking advantage of current interest rates, an investor can realize a 10%+ return within the first 12 months of ownership. Furthermore, Washington is a non-income tax state, allowing investors to keep more of their returns. The ideal buyer for Edison Village Green is an investor who desires strong, stabilized cash flow, low risk, and a market that is steadily growing now and in years to come. COLLIERS INTERNATIONAL, INC P. 3

4 KENNEWICK AMENITIES MAP N Kellogg St N Edison St 7 N Arthur St W Hood Ave W Hood Ave EDISON VILLAGE GREEN 8 N Union St 1 N Kellogg St W Clearwater Ave N Edison St 5 6 W Clearwater Ave W Clearwater Ave Thai Elephant 4 Albertsons 7 Kamiakin High School 10 Asian Market 13 Sprint 2 Wells Fargo Bank 5 Enterprise Rent-A-Car 8 WinCo Foods 11 Domino s Pizza 14 Supercuts 3 El Fat Cat Grill 6 U.S. Bank Branch 9 Jack in the Box 12 Thai Garden Restaurant P. 4 EDISON VILLAGE GREEN

5 COMMUNITY AMENITIES COMMUNITY POOL PARK-LIKE COMMON AREAS LEASING OFFICE COLLIERS INTERNATIONAL, INC P. 5

6 TIM MCKAY O: M: DAN CHHAN O: M: SAM WAYNE Associate O: M: COLLIERS INTERNATIONAL 601 Union Street, Suite 5300 Seattle, Washington This document has been prepared by Colliers International for advertising and general information only. Colliers International 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. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International 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. This publication is the copyrighted property of Colliers International and/or its licensor(s) All rights reserved.