OFFERING MEMORANDUM Sunrise Village 4Plexes PUYALLUP, WA OFFERING MEMORANDUM KW COMMERCIAL 1100 Dexter Avenue North, Suite 275 Seattle, WA 98109 PRESENTED BY: CHARLES BURNETT Managing Broker 206.931.6036 charles@soundrealtygroup.com
OFFERING MEMORANDUM Confidentiality & Disclaimer PUYALLUP, WA All materials and information received or derived from KW Commercial its directors, officers, agents, advisors, affiliates and/or any third party sources are provided without representation or warranty as to completeness, veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projected financial performance of the property for any party s intended use or any and all other matters. Neither KW Commercial its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party s active conduct of its own due diligence to determine these and other matters of significance to such party. KW Commercial will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing. EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE. Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including through appropriate third party independent professionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. KW Commercial makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. KW Commercial does not serve as a financial advisor to any party regarding any proposed transaction. All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as market conditions,vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed by Downtown Seattle in compliance with all applicable fair housing and equal opportunity laws. PRESENTED BY: KW COMMERCIAL 1100 Dexter Avenue North, Suite 275 Seattle, WA 98109 CHARLES BURNETT Managing Broker 206.931.6036 charles@soundrealtygroup.com We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction. www.kwcommercial.com 2
OFFERING MEMORANDUM SUNRISE PROPOSAL VILLAGE FOR COMMERCIAL 4PLEXES SERVICES PROPERTY INFORMATION 1 PROPERTY INFORMATION SUNRISE VILLAGE 4PLEXES PROPERTY INFORMATION 1 EXECUTIVE SUMMARY PROPERTY DETAILS ADDITIONAL PHOTOS www.kwcommercial.com 3
1 PROPERTY INFORMATION Executive Summary SALE PRICE: $1,995,000 UNITS: 16 PRICE PER UNIT: $124,688 CAP RATE: 6.19% GRM: 11.17 NOI: $123,611 LOT SIZE: 3.39 Acres BUILDING SIZE: 13,040 SF YEAR BUILT: 1979 ZONING: Urban Village (UV) MARKET: South Hill Puyallup CROSS STREETS: Meridian E PROPERTY OVERVIEW (4) Fourplexes on separate parcels sold together. Market Cap Rate: 7.6%. Each Building is 3260 sq ft. w/ coin-op laundry room, storage structures, and 4 covered parking spaces; units are all 770 sq ft, 2 bed / 1 bath. Combined, these properties sit on 3.5 acres zoned (UV) Urban Village which may allow the development of up to 100 units! This is a solid turn-key investment property that presents huge opportunity. Located just off Meridian E & primed for substantial return due to its strategic location. PROPERTY FEATURES Each building is 3260 sq ft with its own coin-op laundry room, storage structures and 4 covered parking areas. 4 or more extra parking spaces available on driveway and on street. Units are all 770 sq ft, and each has 2 bedrooms and 1 bathroom The properties sit on 3.5 acres zoned (UV) Urban Village which may allow the development of up to 100 units! Strategically located just off Meridian E within South Hill Puyallup Solid turn-key investment property with huge opportunity www.kwcommercial.com 4
Property Details 1 PROPERTY INFORMATION PROPERTY NAME: Sunrise Village 4Plexes STREET ADDRESS: 9806, 9822, 9908, 10002 158th St E CITY, STATE, ZIP: Puyallup, WA 98375 APN: 419218038 through 419218041 LOT SIZE: 3.39 AC BUILDING SIZE: 13,040 SF ZONING: Urban Village (UV) PARKING SPACES: 32 PARKING RATIO: 2.5 YEAR BUILT: 1979 NUMBER OF STORIES: 2 FOUNDATION: Poured Concrete NUMBER OF UNITS: 16 ROOF: Composition www.kwcommercial.com 5
SUNRISE VILLAGE 4PLEXES 1 PROPERTY INFORMATION Additional Photos www.kwcommercial.com 6
OFFERING MEMORANDUM SUNRISE PROPOSAL VILLAGE FOR COMMERCIAL 4PLEXES SERVICES LOCATION INFORMATION 2 LOCATION INFORMATION SUNRISE VILLAGE 4PLEXES LOCATION INFORMATION 2 REGIONAL MAP LOCATION MAPS AERIAL MAP
Regional Map 2 LOCATION INFORMATION 9806, 9822, 9908, 10002 158th St E www.kwcommercial.com 8
Location Maps 2 LOCATION INFORMATION www.kwcommercial.com 9
SUNRISE VILLAGE 4PLEXES 2 LOCATION INFORMATION Aerial Map www.kwcommercial.com 10
OFFERING MEMORANDUM SUNRISE PROPOSAL VILLAGE FOR COMMERCIAL 4PLEXES SERVICES FINANCIAL ANALYSIS 3 FINANCIAL ANALYSIS SUNRISE VILLAGE 4PLEXES FINANCIAL ANALYSIS 3 FINANCIAL SUMMARY RENT ROLL DEMOGRAPHICS MAP RETAILER MAP
3 FINANCIAL ANALYSIS Financial Summary INVESTMENT OVERVIEW Price $1,995,000 Price per Unit $124,687 GRM 11.2 CAP Rate 6.2% OPERATING DATA Gross Scheduled Income $169,140 Other Income $12,100 Total Scheduled Income 181,240 Vacancy Cost 3% Gross Income 173,377.80 Operating Expenses $49,766.40 Net Operating Income $123,611 Pre-Tax Cash Flow $123,611 www.kwcommercial.com 12
Rent Roll 3 FINANCIAL ANALYSIS TENANT'S NAME UNIT NUMBER UNIT BED UNIT BATH UNIT SIZE (SF) LEASE START LEASE END CURRENT RENT CURRENT RENT (PER SF) MARKET RENT MARKET RENT/SF SECURITY DEPOSIT VACANT 9806-1 2 1 770 Vacant $1,000 $1.30 $1,000 $1.30 9806-2 2 1 770 7/16/17 6/30/18 $995 $1.29 $1,000 $1.30 $1,500 9806-3 2 1 770 10/1/15 m2m $925 $1.20 $1,000 $1.30 $1,000 9806-4 2 1 770 1/1/17 12/31/17 $925 $1.20 $1,000 $1.30 $1,000 9822-1 2 1 770 1/6/17 12/31/17 $925 $1.20 $1,000 $1.30 $1,000 9822-2 2 1 770 11/15/13 m2m $825 $1.07 $1,000 $1.30 $600 9822-3 2 1 770 11/7/15 m2m $895 $1.16 $1,000 $1.30 $900 9822-4 2 1 770 7/18/15 m2m $825 $1.07 $1,000 $1.30 $825 9908-1 2 1 770 9/1/16 8/31/17 $825 $1.07 $1,000 $1.30 9908-2 2 1 770 3/25/15 m2m $825 $1.07 $1,000 $1.30 $825 9908-3 2 1 770 2/14/15 m2m $825 $1.07 $1,000 $1.30 $825 9908-4 2 1 770 10/291/6 9/30/17 $925 $1.20 $1,000 $1.30 $1,500 10002-1 2 1 770 2/25/16 m2m $895 $1.16 $1,000 $1.30 $900 10002-2 2 1 770 7/21/17 6/30/18 $995 $1.29 $1,000 $1.30 $1,000 10002-3 2 1 770 2/16/19 m2m $895 $1.16 $1,000 $1.30 $900 10002-4 2 1 770 7/1/06 m2m $595 $0.77 $1,000 $1.30 $300 TOTALS/AVERAGES 12,320 $14,095 $1.14 $16,000 $1.30 $13,075 www.kwcommercial.com 13
3 FINANCIAL ANALYSIS Demographics Map POPULATION 1 MILE 3 MILES 5 MILES TOTAL POPULATION 9,413 76,625 165,882 MEDIAN AGE 32.2 32.3 33.3 MEDIAN AGE (MALE) 31.8 32.0 33.2 MEDIAN AGE (FEMALE) 34.3 32.7 33.5 HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES TOTAL HOUSEHOLDS 3,160 26,673 58,303 # OF PERSONS PER HH 3.0 2.9 2.8 AVERAGE HH INCOME $87,204 $76,266 $76,909 AVERAGE HOUSE VALUE $298,999 $301,122 $312,516 * Demographic data derived from 2010 US Census www.kwcommercial.com 14
Retailer Map 3 FINANCIAL ANALYSIS www.kwcommercial.com 15