The Kenney Assemblage (West Seattle) th Ave SW and 4618, 4626 SW Othello St, Seattle, WA Bob Fredrickson (206)

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1 The Kenney Assemblage (West Seattle) th and 4618, 4626 SW Othello St, PREPARED BY: Coldwell Banker Commercial Danforth Bob Fredrickson 2017 Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates. All Rights Reserved. Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates fully supports the principles of the Equal Opportunity Act. Each Office is Independently Owned and Operated. Coldwell Banker Commercial and the Coldwell Banker Commercial Logo are registered service marks owned by Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates. All information herein is received from sources we deem reliable however the information is not warranted by Coldwell Banker or its Brokers. It is the duty of all parties reviewing this information to independently verify its accuracy.

2 PROPERTY INFORMATION TOTAL BUILDINGS: 5 TOTAL : 15 TOTAL BUILDING SF*: 17,994 Sq. Ft. TOTAL LAND: 28,049 Sq. Ft. ZONING: Lowrise1 (LR1) PRICE PER UNIT: $346, PRICE PER SF: $ (ACTUAL): 2.06% PROFORMA : 6.93% PROPERTY OVERVIEW The Kenney Assemblage consists of 5 buildings: three triplexes, one fourplex and one duplex for a total of 15 units. All of the units are spacious and range from studio to two-bedroom. Garage parking available in select units. This is a value-add opportunity with rents significantly below market. Upside available through rent increase, utility billback, parking fees, etc. Contiguous to The Kenney retirement community Potential water views for new construction Close to Lincoln Park with miles of walking and bike trails Near Vashon/Fauntleroy Ferry Terminal Walking distance (.5 mile) to retail and shopping Alki Beach 4 miles Short commute to Downtown Seattle *Square footages are approximate. Source: King County records and appraisal. Buyer to verify all square footages.

3 MAP & AERIAL Discovery Park

4 BUILDING SW Othello St Triplex Two 2 Bedroom 1 Bath Units One 1 Bedroom 1 Bath Unit Year Built: 1954 Parcel: Building Size: 4,000 Sq. Ft. Lot Size: 5,628 Sq. Ft. (0.13 Acres) BUILDING SW Othello St Triplex One 2 Bedroom 1 Bath Unit One 1 Bedroom 1 Bath Unit One Studio Unit Year Built: 1955 Parcel: Building Size: 3,900 Sq. Ft. Lot Size: 5,171 Sq. Ft. (0.12 Acres)

5 BUILDING th Triplex. Three 2 Bedroom 1 Bath Units Year Built: 1958 Parcel: Building Size: 3,680 Sq. Ft. Lot Size: 6,750 Sq. Ft. (0.15 Acres) BUILDING th Duplex. One 2 Bedroom 1 Bath Unit One 1 Bedroom 1 Bath Unit Year Built: 1955 Parcel: Building Size: 3,500 Sq. Ft. Lot Size: 5,250 Sq. Ft. (0.12 Acres) BUILDING th Fourplex. Three 2 Bedroom 1 Bath Units One Studio Unit Year Built: 1960 Parcel: Building Size: 2,914 Sq. Ft. Lot Size: 5,250 Sq. Ft. (0.12 Acres)

6 Investment Summary Asking Price:.00 Number of Units: 15 Price/unit: $346, Total SF (Buildings): 17,994 Price/SF (Buildings): $ Cap Rate: 2.06% Proforma Cap Rate: 6.93% Total SF (Land): 28,049 Price/SF (Land): $ Unit Mix and Scheduled Income Address # of units Monthly Rent Total SF Av Unit Size Av Rent/Unit Rent/SF Market Rate/SF Total Market Rent Lot Size (SF) TH AVE SW 4 $3,350 2, $ $ $6, , TH AVE SW 2 $2,950 3, $1, $ $7, , TH AVE SW 3 $4,200 3, $1, $ $8, , SW OTHELLO ST 3 $3,325 3, $1, $ $8, , SW OTHELLO ST 3 $3,800 4, $1, $ $8, ,628 Total: 15 $17, ,994 $39, ,049 Additional Income Current Market Laundry: $ $ Parking: $0.00 $4, Storage: $0.00 $3, Utility Billback: $0.00 $13, Total: $ $22,090.00

7 Proforma Summary SW Othello St 4626 SW Othello St Annualized Operating Expenses th th th Total Proforma Gross Potential Rent $42, $39, $50, $36, $47, $216, $475, Less: Vacancy (5%) $2, $1, $2, $1, $2, $10, $23, Misc. Income $ $ $ $1, $22, Effective Gross Income $40, $38, $47, $34, $45, $207, $473, Less Expenses $23, $20, $20, $15, $24, $100, $112, Net Operating Income $16, $17, $27, $19, $21, $107, $360, SW Othello St 4626 SW Othello St th th th Total Actual Estimated 2018 Repair $ $1, $2, $1, $6, $7, Carpet Cleaning $ $ $ Cleaning $ $ $ $ Painting $1, $1, $2, $3, Pest Control $ $ $ $ Exterior Maintenance $1, $1, $1, $1, $1, $7, $7, Management Fee $1, $1, $1, $1, $2, $8, $9, Leasing Commission $ $ $ Property Tax $9, $9, $10, $7, $9, $46, $46, Water, Sewer, Garbage $3, $4, $3, $3, $4, $20, $21, Electricity $ $ $ $ $ Other Utilities $ $ $ Capital Improvements $1, $1, $1, Administrtive $28.63 $28.63 $57.26 $62.47 Total $21, $18, $18, $14, $22, $95, $100,056.18

8 Seaview Triplex Comparable Sales 7013 Seaview Ter SW % SALES PRICE 04/04/2017 $1,188,000 $396,000 $ West Seattle 4-Plex 3704 SW Avalon Way % SALES PRICE 07/14/2017 $1,225,000 $306,250 $ Alki Ave 3 Parcels Alki % ASKING PRICE Active Listing $5,250,000 $583, $ Andover Apartments 4000 California % LISTING PRICE PENDING $2,100,000 $300,000 $ Sixtieth th % LISTING PRICE Active Listing $2,350,000 $335,714 $355.20