Price Manor A P A R T M E N T S

Price Manor A P A R T M E N T S

OFFERING Paragon Real Estate Advisors is proud to exclusively offer for sale the Price Manor Apartments. Located in the heart of Seattle s popular Capitol Hill neighborhood, Price Manor is a charming 11-unit apartment community with a clean mid-century design and vintage appeal. This is an extremely rare opportunity for an investor to acquire a well-maintained trophy asset in an unbeatable Seattle neighborhood with immediate rental upside and further value-add potential. NAME Price Manor Apartments ADDRESS 1210 E John St, Seattle WA 98102 TOTAL UNITS 11 BUILT 1958 SQUARE FEET 6,750 Total Net Rentable PRICE $3,100,000 PRICE PER UNIT $281,818 PRICE PER FOOT $459.26 CURRENT GRM/CAP 17.4/3.6% MARKET GRM/CAP 13.8/5.0% LOT SIZE ZONING 5,760 Square Feet LR3 (UV) 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.

SEATTLE CBD BELLTOWN FIRST HILL CAPITOL HILL LIGHT RAIL STATION CAPITOL HILL

INVESTMENT HIGHLIGHTS Prime location in the heart of Capitol Hill Price Manor A P A R T M E N T S Territorial and mountain views from the upper floor Easy to manage low maintenance property Light rail station 3 blocks away! 5,760 square foot lot zoned LR3 in the Urban Village Common coin-operated laundry facility Original hardwood floors in all units except for 1 3 on the ground level Secure gate entry to private courtyard Double-paned vinyl windows, electric baseboard heating Off-street parking with 5+ open stalls 1 unit completely renovated with quartz countertops, new cabinetry and attractive modern finishes/fixtures Potential to add a unit/rentable space in the lower level storage and laundry area

LOCATION HIGHLIGHTS Superior Capitol Hill location just 3 blocks from the Broadway corridor and 5 minutes to Seattle CBD Easy access to major employers in the Seattle Central Business District and South Lake Union neighborhoods. Seattle hot spot with hundreds of popular restaurants, bars, and retailers. WALK SCORE 95 Sound Link Light Rail Just 3 blocks away! the Capitol Hill Light Rail Station provides frequent service to places like Downtown Seattle, Century Link Field, Pioneer Square, the University of Washington, and the Seattle Tacoma Airport. The Roosevelt Station and Northgate Station are scheduled to open in 2021. Easy access to Interstate 5 as well as Interstate 90 and State Route 520 to Bellevue. Nearby Grocers QFC, Safeway, Trader Joe s and Central Co-Op within easy walking distance. TRANSIT SCORE 79 Nearby Drugstores and Healthcare Rite Aid, Walgreens and Kaiser Permanante just a block away. Walking distance to Seattle Central College, Seattle University and Seattle Academy of Arts & Sciences. Cal Anderson Park 3 blocks away! 7-acre park with water features, large lawn area, footpaths, a play area, an athletic field and oversized chess boards. BIKE SCORE 73

CAPITOL HILL Capitol Hill is situated on a hill just east of the city s downtown central business district. This popular residential neighborhood is funky and fast-paced, with an endless number of cool blocks to explore. During the day, markets, boutiques, and salons are a big draw. Nightlife is hopping with clubs, bars, and music venues, and you ll often find coffee shops that moonlight as cocktail lounges This desirable location contains some of Seattle s wealthiest neighborhoods, including Millionaire s Row along 14th Avenue E, a charming collection of single family residences on tree-lined streets, and the Harvard-Belmont Landmark District. It also has many distinguished apartment houses, including several designed by the distinguished builder Fred Anhalt. The neighborhood figures prominently in nightlife and entertainment, with many bars hosting live music and with numerous avant-garde theaters. Most of the Hill s major thoroughfares are dotted with coffeehouses, taverns and bars, and residences cover the gamut from modest motel-like studio apartment buildings to some of the city s most historic mansions, with the two types sometimes shoulder-to-shoulder. To the north is Capitol Hill s largest and most popular public park. The 48 acre Volunteer Park is home to Seattle s Asian Art museum, tennis courts, a conservatory, and a variety of city-wide events. The demand for Capitol Hill apartments continues to rise as nearby Amazon continues its feverish hiring pace alongside other technology companies that are hiring as well as relocating to the South Lake Union area. This location is also home to longstanding health care providers including Swedish Medical Center, Group Health and Virginia Medical Center. Nearby Seattle University and Seattle Central College provide a consistent base to the apartment demand in the area.

MAJOR EMPLOYERS - CENTRAL BUSINESS DISTRICT

MAJOR EMPLOYERS - SOUTH LAKE UNION

BUILDING PHOTOS

AERIAL PHOTOS

UNIT PHOTOS

UNIT PHOTOS

Unit Breakdown APPROXIMATE CURRENT CURRENT MARKET MARKET UNIT TYPE UNIT SIZE RENT RENT/SQ.FT. RENT RENT/SQ.FT. 1 1 Bd/1 Bth 600 Sq.Ft. $1,495 $2.49 $1,525 $2.54 2 1 Bd/1 Bth 600 Sq.Ft. $1,195 $1.99 $1,525 $2.54 3 2 Bd/1 Bth 750 Sq.Ft. $1,595 $2.13 $1,950 $2.60 4 1 Bd/1 Bth 600 Sq.Ft. $1,350 $2.25 $1,525 $2.54 5 1 Bd/1 Bth 600 Sq.Ft. $1,200 $2.00 $1,525 $2.54 6 1 Bd/1 Bth 600 Sq.Ft. $1,295 $2.16 $1,525 $2.54 7 * 1 Bd/1 Bth 600 Sq.Ft. $1,250 $2.08 $1,525 $2.54 8 1 Bd/1 Bth 600 Sq.Ft. $1,150 $1.92 $1,525 $2.54 9 1 Bd/1 Bth 600 Sq.Ft. $1,395 $2.33 $1,525 $2.54 10 1 Bd/1 Bth 600 Sq.Ft. $1,380 $2.30 $1,525 $2.54 11 1 Bd/1 Bth 600 Sq.Ft. $1,210 $2.02 $1,525 $2.54 Totals/Avg 614 Sq.Ft. $14,135 $2.09 $17,200 $2.55 *On-site managers unit. Manager pays a reduced rent of $700 and gets a credit as compensation. Price Manor A P A R T M E N T S

Income and Expenses ANNUALIZED OPERATING DATA CURRENT MARKET Units 11 Year Built 1958 Rentable Area 6,750 Down Pmt $1,550,000 Loan Amount $1,550,000 Interest Rate 4.50% Amortization 30 years Price $3,100,000 Per Unit $281,818 Per Sq. Ft. $459.26 Current GRM 17.44 Current CAP 3.62% Market GRM 13.80 Market CAP 5.02% Scheduled Gross Income $177,793 $224,640 Less Vacancy 2.0% $3,556 3.5% $7,862 Gross Operating Income $174,237 $216,778 Less Expenses $61,968 $61,300 Net Operating Income $112,269 $155,478 Annual Debt Service ($7,854/mo) $94,243 $94,243 Cash Flow Before Tax 1.16% $18,025 3.95% $61,234 Principal Reduction $25,005 $25,005 Total Return Before Tax 2.78% $43,030 5.56% $86,239 UNIT CURRENT MARKET UNITS TYPE SIZE RENT RENT 10 1 Bd/1 Bth 600 $1,115 - $1,495 $1,525 1 2 Bd/1 Bth 750 $1,595 $1,950 11 Total/Avg 614 $2.09 $2.55 MONTHLY INCOME CURRENT MARKET Gross Potential Rent $14,135 $17,200 Utility Bill Back $75 $825 Laundry Income $66 $110 Parking - 5 Spaces $430 $475 Misc $110 $110 Gross Potential Income $14,816 $18,720 ANNUALIZED OPERATING EXPENSES CURRENT MARKET Real Estate Taxes 2018 Actual $23,868 $25,000 Insurance Estimate $3,300 $3,300 Utilities 2018 Est $15,000 $13,200 On-Site Management Approx. Actual $6,600 $6,600 Maintenance & Repairs Proforma $9,350 $9,350 Administration Proforma $1,100 $1,100 Reserves Proforma $2,750 $2,750 Total Expenses $61,968 $61,300 CURRENT OPERATIONS Expense/Unit $5,633 Expense/Foot $9.18 Percent of EGI 34.85% MARKET OPERATIONS Expense/Unit $5,573 Expense/Foot $9.08 Percent of EGI 27.29%

SALES COMPARABLES Price Manor 1210 E John St Seattle, WA 98102 2 Year Built 1957 Units 11 Sales Price $3,600,000 Price/Unit $327,273 Price/Foot $518 GRM/CAP 18.0/3.4% Howell Apartments 1410 E Howell St Seattle, WA 98122 Year Built 1958 Units 11 Sales Price $3,100,000 Price/Unit $281,818 Price/Foot $459 GRM/CAP 17.4/3.6% Sales Date TBD Sales Date 7.19.2018 1 Year Built 1958 Units 24 Sales Price $8,600,000 Price/Unit $358,333 Price/Foot $652 GRM/CAP 15.5/4.4% 215 Boston Apartments 215 Boston St Seattle, WA 98109 3 Year Built 1958 Units 14 Sales Price $4,000,000 Price/Unit $285,714 Price/Foot $509 GRM/CAP 18.8/3.4% La Fonda Apartments 1215 Queen Anne Ave N Seattle, WA 98109 Sales Date 9.7.2018 Sales Date 6.21.2018 3 1 Price Manor A P A R T M E N T S 4 5 6 2 7 Year Built 4 1965 Units 25 Sales Price $9,100,000 Price/Unit $364,000 The Illiad 112 Bellevue Ave E Seattle, WA 98102 Price/Foot $471 GRM/CAP Sales Date 6.21.2018 Unknown 5 Year Built 1964 Units 11 Sales Price $3,075,000 Price/Unit $279,545 Price/Foot $497 GRM/CAP 16.9/4.0% Santa Fe Apartments 1417 Belmont Ave Seattle, WA 98122 Sales Date 4.25.2018 Year Built 6 1960 Units 9 Sales Price $3,660,000 Price/Unit $406,667 Price/Foot $588 GRM/CAP 17.0/4.4% Harriet Manor 1304 E Harrison St Seattle, WA 98102 Sales Date 1.12.2018 7 Year Built 1930 Units 16 Sales Price $4,600,000 Price/Unit $287,500 Price/Foot $516 GRM/CAP 16.5/3.8% Normandy Arms 420 13th Ave E Seattle, WA 98102 Sales Date 9.29.2017

600 University St, Suite 2018 Seattle Washington 98101 206 623-8880 / info@paragonrea.com 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.