EVERETT 5-UNIT RD STREET, EVERETT, WA CONTACT INFORMATION: PRINCIPAL BROKER PRINCIPAL BROKER

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1 EVERETT 5-UNIT RD STREET, EVERETT, WA CONTACT INFORMATION: TYLER SMITH PRINCIPAL BROKER STEVE FISCHER PRINCIPAL BROKER

2 OFFERING SUMMARY WESTLAKE ASSOCIATES, INC. IS PLEASED TO PRESENT THIS EVERETT 5-UNIT APARTMENTS FOR SALE. Well maintained 5-unit in downtown Everett blocks from the new Waterfront Place development and the Everett Public Library. The property is a mix of studios and 1-bedroom units with laundry on-site. The building has a new roof, double pane vinyl windows and vinyl exterior. Existing rents are far below market providing excellent upside for an investor. ADDRESS rd Street, Everett, WA PROPERTY HIGHLIGHTS Price: $465,000 Price Per Unit: $93,000 Price Per NRSF: $ Cap Rate: 5.66% Market Cap Rate: 6.60 % GRM: Building Size: 2,500 SF Lot Size: 3,920 SF Year Built: 1900 BLOCKS TO DOWNTOWN N EVERETT NEW COMPOSITION ROOF VINYL EXTERIOR DOUBLE PANE VINYL WINDOWS WASHER/DRYER ON SITE

3 PROPERTY DETAILS SALE PRICE $465,000 LOCATION INFORMATION Building Name Everett 5-Unit Street Address rd Street City, State, Zip Everett, WA County/Township Snohomish PROPERTY DETAILS Property Type Multifamily Property Subtype Low-Rise/Garden Zoning R3 Lot Size 3,920 SF APN# BUILDING INFORMATION Building Size 2,500 SF Number Of Floors 2 Year Built 1900

4 FINANCIAL OFFERING PROPERTY OVERVIEW Number of Units 5 Year Constructed 1900 Rentable SF 2,500 SF Lot Size 3,920 SF Zoning R3 PRICE ANALYSIS PRICE $465,000 Price per Unit $93,000 Price per NRSF $ Price per Land SF $ Current Cap 5.66% Current GRM Market Cap 6.60% Market GRM 9.31 FINANCING Loan Amount $325,500 Down Payment $139,500 Rate 4.350% % Down 30.0% Amortization 30 Term 5 Years Monthly Payment $1,620 # UNITS UNIT TYPE AVG SIZE CURRENT PSF PRO FORMA PSF 2 1 BD 1 BA 510 $755 $1.48 $800 $ Studio 363 $623 $1.72 $716 $1.97 TOTAL $3,379 $1.60 $3,748 $1.78 INCOME CURRENT PRO FORMA Schedule Rental Income $41,280 $45,900 + Other Income 1,020 1,020 + Utility Income 3,000 3,000 Scheduled Gross Income $44,568 $49,920 - Vacancy & Cr Losses (5.00%) ($2,265) ($2,496) Effective Gross Income $43,035 $47,424 EXPENSES CURRENT PRO FORMA - Real Estate Taxes (2018) $3,651 $3,651 - Property Insurance 1,000 1,000 - Utilities 5,588 5,588 - Repairs & Maintenance 6,500 6,500 Total Operating Expenses $16,739 $16,739 CASH FLOW CURRENT PRO FORMA Net Operating Income $26,296 $30,685 Less Annual Debt Service ($19,445) ($19,445) Cash Before Taxes $6,851 $11,240 Plus Principal Reduction $5, $5, Total Return Before Taxes $12, $16, Annual Payment $19,445 The statements, figures & computations herein, while not guaranteed, are secured from sources we believe reliable. Investors should verify all numbers, computations, and assumptions before committing to an investment.

5 FINANCIAL SUMMARY INVESTMENT OVERVIEW CURRENT MARKET Price $465,000 $465,000 Price per Unit $93,000 $93,000 CAP Rate 5.66% 6.6% GRM Cash-on-Cash Return (yr 1) 4.91% 8.06% Total Return (yr 1) $12,243 $16,632 Debt Coverage Ratio OPERATING DATA CURRENT MARKET Gross Scheduled Income $41,280 $45,900 Other Income $4,020 $4,020 Total Scheduled Income $45,300 $49,920 Vacancy Cost $2,265 $2,496 Gross Income $43,035 $47,424 Operating Expenses $16,739 $16,739 Net Operating Income $26,296 $30,685 Pre-Tax Cash Flow $6,851 $11,240 FINANCING DATA CURRENT MARKET Down Payment $139,500 $139,500 Loan Amount $325,500 $325,500 Debt Service $19,445 $19,445 Debt Service Monthly $1,620 $1,620 Principal Reduction (yr 1) $5,392 $5,392

6 RENT ROLL UNITS BEDROOM/ BATH SIZE RENT PSF MARKET RENT MARKET RENT PSF 1 1 x $775 $1.48 $800 $ x $795 $1.61 $850 $ Studio 425 $695 $1.64 $750 $ Studio 390 $650 $1.67 $750 $ Studio 275 $525 $1.91 $650 $ ,110 $3,440 $1.63 $3,800 $1.86 Averages 422 $688 $1.63 $760 $1.80 The statements, ts, figures & computations herein, ein, while not guaranteed, are secured ed from sources we believe reliable. Investors should verify all numbers, computations, and assumptions before e committing to an investment. t.

7 Everett 5-Unit LOCATION MAPS

8 INTERIOR PHOTOS

9 INTERIOR PHOTOS

10 INTERIOR PHOTOS

11 EVERETT EVERETT EVERETT is a beautiful city of more than 100,000 people located in North Puget Sound Area. Located about 25 miles north of Seattle, Everett is a Pacific-Rim city situated on Port Gardner Bay. Nestled along the nationally-acclaimed Puget Sound coast, Everett is a city rich with opportunity and is on the way to becoming a leading Northwest business center. Starting in the 1890 s as a lumber port that attracted the eyes of mogul investors like J.D. Rockefeller. The small port rapidly became a boom town and many local lumber barons made their homes in town. Several of the elaborate mansions can still be found in the north end of town on Rucker and Grand Avenues. Everett is an All-American City that has focused on citywide investments, growing our economy and creating a better quality of life. Once a mill town built on wood-based industries today s labor force of more than 80,000 is predominately employed in technology, aerospace and service based industries. In 1893, Everett took over as the county seat from the city of Snohomish and since has worked through numerous challenges to encourage economic development and maintain ecological soundness. The city governments operates with an elected mayor and a seven member city council. Everett was home to the late U.S. Senator Henry M. Jackson. Despite its historical past, Everett offers a expanding hightech industry, a deep water port accessing the Pacific Ocean, established and diverse manufacturing and retail core and Naval Station with it s 16,000 personnel and family members. Companies in this area are well positioned to tap markets from around the Puget Sound and the World. The Boeing Company, a world-wide manufacturer assembles 747 s and 767 s at the Everett Plant. Planned bicycle and jogging trails weave through Snohomish County and let you see the beauty of tall Evergreen Trees that Washington is known for. With more than 40 parks, trails, golf courses and open spaces, residents and visitors enjoy the great outdoors. Summer and winter sports opportunities abound at nearby lakes, rivers and campgrounds, the Cascade and Olympic Mountains, Whidbey and San Juan Islands. Everett is home to the AquaSox baseball team, a Class A minor league team associated with the Seattle Mariners. The Everett Events Center, which seats 8,000, opened September of 2003 and is home to the Everett Silvertips, Western Hockey League and the Everett Hawks, an Arena football team. 105,800 POPULATION $47,491 AVERAGE INCOME 60 Mins THE BOEING COMPANY AVERAGE SEATTLE COMMUTE WEYERHAEUSER HEADQUARTERS WEYERHAEUSER WEYERHAEUSER WESTLAKE ASSOCIATES, HEADQUARTERS HEADQUARTERS INC.

12 BROKER BIO & CONTACT STEVE FISCHER T YLER SMITH Principal Broker Principal Broker 1200 Westlake Ave N, Suite 310 Seattle, WA T C fischer@westlakeassociates.com 1200 Westlake Ave N, Suite 310 Seattle, WA T C tylersmith@westlakeassociates.com PROFESSIONAL BACKGROUND A lifetime resident of the Seattle area, Steve graduated from the University of Washington with a degree in Economics. Beginning his real estate career as an analyst, his work ethic quickly transitioned from analyst to full time apartment broker. Since the inception of his brokerage career, Steve has successfully closed over $100 million in sales totaling over 100 transactions. To expand his skill set, Steve also manages a portfolio of 130 apartment units in the Seattle area. Steve excels at problem solving to complete his client s investment goals. His diverse background of brokerage and management provide a unique spectrum of knowledge. Drawing from this knowledge allows him to guide his clients not only through the sales process, but to also navigate the operational side of owning an apartment building. He truly is A Wealth of Experience. A firm believer of investing in real estate as a module to gain wealth, Steve has been actively investing in Seattle real estate since In 2012, he was unanimously voted a partner at Westlake Associates, Inc. Away from the office, Steve is a huge sports fan, enthusiast of the outdoors, enjoys cooking, an avid soccer player and a die-hard husky. PROFESSIONAL BACKGROUND For over 13 years, Tyler has specialized in the sale of middle market multi-family assets in the Puget Sound Region. Tyler s extensive experience includes the sale of various types of asset size and classifications. As an apartment owner himself, Tyler understands the importance of evaluating each client s needs individually and carefully. Since joining Westlake Associates, he has consistently been one of the firm s top performers and quickly rose to Partner. Tyler s consistent effort and drive have earned him Westlake Associates Top Producer award. Education Tyler earned a degree in economics from the University of Washington. Tyler worked in finance for a company headquartered in Irvine, CA before returning home to the Pacific Northwest. He joined Westlake Associates in 2004 and currently resides with his wife and two boys in Northeast Seattle.