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THE KENTON APARTMENTS 303 16TH AVE E SEATTLE, WA 98112 A CLASSIC 15-UNIT APARTMENT BUILDING WITH SIGNIFICANT VALUE-ADD POTENTIAL FOR MORE INFORMATION: COLLIN HAGSTROM PRINCIPAL BROKER 206.505.9436 collin@ westlakeassociates.com CURRAN HAGSTROM PRINCIPAL BROKER 206.505.9426 curran@ westlakeassociates.com

OFFERING SUMMAR Y WESTLAKE ASSOCIATES, INC. IS PROUD TO PRESENT THE KENTON APARTMENTS FOR SALE. Located in the epicenter of Seattle s thriving Capitol Hill neighborhood, the 15-unit Kenton presents investors with the rare opportunity to own a classic brick trophy building with significant value-add and redevelopment potential in the heart of the most economically robust sub-market in the Seattle area. The charming Kenton, built in 1926 and comprised of 15 spacious 1 and 2 bedroom units, is perfectly situated along a residential street one block east of the trendy 15th Avenue- home to a collection of quaint boutiques, grocery stores, restaurants, coffee shops- and just across the street from Kaiser Permanente Hospital. Three blocks northwest along 14th Avenue is the historic Millionaire s Row with pristine, tree-lined streets and gorgeous million dollar homes. A stone s throw further north is the 48-acre Volunteer Park- home to sprawling fields which play host to a number of outdoor recreational activities, summer concerts, and theater. The park s historic nature conservatory and water tower are added attractions along with incredible views of the Seattle skyline and Space Needle. Price: $4,500,000 Price Per Unit: $300,000 Price Per NRSF: $504.20 Cap Rate: 3.40 % Market Cap Rate: 4.78 % GRM: 16.95 NRSF: 8,925 SF Lot Size: 6,400 SF Year Built: 1926 Broadway Avenue and the Pike/Pine Corridor, the bustling commercial and retail hubs on The Hill, are both within close walking distance. Less than a mile from the front steps of the Kenton, the Capitol Hill Light Rail station connects residents from Capitol Hill to downtown Seattle, north to the U-District, and as far south as Seatac Airport. The Kenton is perfectly positioned to capitalize on the demand for charming, updated apartments on Capitol Hill with Amazon and other tech giants rapidly expanding in nearby South Lake Union, along with the continued growth of longstanding health care providers like neighboring Kaiser Permanente Hospital and nearby Swedish and Virginia Mason. Seattle University and Seattle Central Community college also provide a consistent boon to apartment demand in the area. Capitol Hill maintains the highest rents, occupancy rates, and value appreciation in the Puget Sound Region. With its classic charm, redevelopment upside potential, and unmatched location, the Kenton is a one-of-a-kind investment opportunity. ADDRESS 303 16th Ave E, Seattle, W A 98112

PROPERTY HIGHLIGHTS RARE SELLER FINANCING SALE 25% Down Payment 7-Year Note Years 1-3 Interest-Only Payments Years 4-7 P+I Payments with 30 Year Amortization No Loan Fees/Bank Appraisal Fees VALUE-ADD POTENTIAL ABOUNDS Immediate income upside potential Current rents well below market rates LR3 Urban Village Zoning Potential to add multiple units in what is currently a 5 car parking garage Potential to build a new structure on west side surface parking lot Buyer to verify feasibility of redevelopment potential UNMATCHED CAPITOL HILL LOCATION 1 block from trendy 15th Avenue shops, restuarants, & retail 1/2 mile to Broadway and Capitol Hill Link Light Rail Station 1.5 miles to South Lake Union and Amazon 1.9 miles to Downtown Seattle CBD CHARMING, WELL-MAINTAINED ASSET Refinished oak hardwood floors in units Coved ceilings, arched doorways, crown moldings New common area carpet and paint throughout All plumbing supply lines replaced with copper 25-Year PVC roof installed within 10 years All windows were replaced with double pane vinyl via SCL program East and West sides of the building tuckpointed within 5 years

Magnolia Seattle CBD Seattle Center Queen Anne Amazon South Lake Union Fred Hutch Capitol Hill Station Cal Anderson Park Safeway 15th Ave 15th Ave 15th Ave Kaiser Permanente

PROPERTY DETAILS LIST PRICE $4,500,000000 LOCATION INFORMATION Building Name Kenton Apartments Street Address 303 16th Ave E City, State, Zip Seattle, WA 98112 County/Township King Market Seattle Submarket Capitol Hill PROPERTY DETAILS Property Type Multifamily Property Subtype Low-Rise/Garden Zoning LR3 - Urban Village Lot Size 6,400 SF APN# 180690-0315 Submarket Capitol Hill BUILDING INFORMATION Building Size 10,200 SF Number Of Floors 3 Year Built 1926 Gross Leasable Area Exterior Walls 8,925 SF Brick PARKING & TRANSPORTATIONTION Parking Type Parking Description UTILITIES & AMENITIES Central HVAC Laundry Description Exterior Description Surface 5 Garage Spaces 6 Off-Street Spaces Gas Hot Water Common Coin-Op Brick Facade over Wood Framing

FINANCIAL OFFERING PROPERTY OVERVIEW Number of Units 15 Year Constructed 1926 Building SF 10,220 SF Rentable SF 8,925 SF Lot Size 6,400 SF Zoning Urban Village - LR3 Exterior Brick Facade over Wood Framing PRICE ANALYSIS Sale Price $4,500,000 Price per Unit $300,000 Price per NRSF $504.20 Price per Land SF $703.13 Current Cap 3.40% Current GRM 16.95 Market Cap 4.78% Market GRM 13.36 # OF UNITS UNIT TYPE AVG SIZE CURRENT PSF PRO FORMA PSF 13 1 BD 1 BA 575 $1,453 $2.53 $1,695 $2.95 2 2 BD 1 BA 725 $1,898 $2.62 $2,095 $2.89 Total AVG $22,685 $2.54 $26,225 $2.94 INCOME CURRENT PRO FORMA Scheduled Rent Income $272,220 $314,700 + Utility $0 $13,500 + Parking $2,700 $18,000 + Laundry / MIscellaneous $1,620 $1,620 + Storage $0 $3,120 Scheduled Gross Income $276,540 $350,940 - Vacancy & Cr Losses (4.00%) $11,062 $14,038 Gross Income $265,478 $336,902 EXPENSES CURRENT PER UNIT PRO FORMA PER UNIT Real Estate Taxes $40,536 $2,702 $44,590 $2,973 Insurance $8,698 $579 $8,698 $579 Professional Management $13,274 $884 $16,845 $1,125 Resident Management $5,400 $360 $5,400 $360 Common Cleaning & Landscaping $1,800 $120 $1,800 $120 Utilities: W/S/G/E $28,726 $1,915 $30,162 $2,010 Repairs & Maintenance $10,500 $700 $10,500 $700 Reserves $3,750 $250 $3,750 $250 Total Operating Expenses $112,684 $7,512 $121,745 $8,116 Net Operating Income $152,795 $215,157 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.

CURRENT RENT ROLL UNIT NUMBER UNIT BED UNIT BATH UNIT SIZE (SF) CURRENT RENT CURRENT RENT (PER SF) 101 1 1 575 $1,495 $2.60 102 1 1 575 $1,250 $2.17 104 1 1 575 $1,255 $2.18 201 2 1 725 $1,700 $2.34 202 1 1 575 $1,525 $2.65 203 1 1 575 $1,495 $2.60 204 1 1 575 $1,570 $2.73 205 1 1 575 $1,675 $2.91 206 1 1 575 $1,720 $2.99 301 2 1 725 $2,095 $2.89 302 1 1 575 $1,495 $2.60 303 1 1 575 $1,265 $2.20 304 1 1 575 $1,310 $2.28 305 1 1 575 $1,300 $2.26 306 1 1 575 $1,535 $2.67 8,925 $22,685 $2.54 Averages 595 $1,512 $2.54

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PUGET SOUND SUMMAR Y PUGET SOUND Set in the beautiful Pacific Northwest, the greater Seattle area is a national center for manufacturing, technology, services, international trade and tourism. MAJOR EMPLOYERS Today some of the world s most recognizable Fortune 500 companies call Seattle home: Microsoft, Starbucks, Amazon, Nordstrom, Costco and REI. Other major companies in the area include Boeing, T-Mobile. Expedia, F5 Networks and Nintendo of America. According to the Puget Sound Business Journal, technology companies are leading the way in employment growth in the Seattle MSA. As the home of Microsoft and Amazon, Seattle accounts for over 20% of the nation s software publishing employment. Microsoft is one of the top employers in the sate with over 42,000 employees. Their World Headquarters, located in Redmond is over 10 million square feet. largest maker of large commercial jets, and second largest global defense contractor. Boeing is one of the largest employers in the Puget Sound, employing approximately 80,000 in Washington. Employment is expanding through the greater Seattle area. The Puget Sound region is projected to generate 1.2 million new jobs by 2040. INTERNATIONAL TRADE Seattle has remained one of the most resilient cities due to its diverse industries, making it more attractive for new companies to relocate and expand in the area. The Port of Seattle, which also operates the Seattle-Tacoma International Airport, is a major gateway to Asia and cruises to Alaska. The Port of Seattle ranks as the 6th business seaport in the US, playing a key role in bringing international trade, transportation and travel to the Pacific Northwest. PUGET SOUND LARGEST EMPLOYERS 80,000 42,000 40,000 JOINT BASE LEWIS-MCCHORD 56,000 25,000 20,000 The Puget Sound has become a international leader in innovative industries with organizations such as the Fred Hutchinson Cancer Research Center, the University of Washington Medical Center and the Bill and Melinda Gates foundation. Healthcare employment is projected to continue to grow dramatically and Seattle has the 5th largest biotechnology Research and Development alliance between the University of Washington and the Fred Hutchinson Cancer Research Center. The Puget Sound is one of the capitals of the aerospace industry anchored by Boeing, the world s largest aerospace company, second- RECREATION The region is known for its quality of life, arts, and outdoor lifestyle which helps attract an educated workforce. Numerous camping, hiking, winter sports, and recreational activities are located a short drive from the city. Seattle s main attractions include Pike Place Market, the Space Needle, and Seattle Center, home of the 1962 World s Fair. Seattle is home to a number of professional sports teams including the 2013 Super Bowl champions, the Seattle Seahawks, the Seattle Mariners, and the Seattle Sounders FC soccer team. 20,000 15,000 10,000 13,000

HAGSTROM TEAM Curran C. Hagstrom Principal Broker 1200 Westlake Ave N, Suite 310 Seattle, WA 98109 T 206.505.9426 curran@westlakeassociates.com Collin S. Hagstrom Principal Broker 1200 Westlake Ave N, Suite 310 Seattle, WA 98109 T 206.505.94236 collin@westlakeassociates.com Shortly after joining the company, Curran and Collin formed Westlake s first brother team, where they focus on representing buyers and sellers of core Seattle multi-family properties. With their straightforward approach and commitment to maximizing client returns, the Hagstroms quickly became top producers in the Seattle multi-family market. In 2017, they brokered over $130 million in multi-family sales, earning them the award as Westlake s Top Listing Broker for the third consecutive year. To better serve clients, the Hagstroms offer professional property management, where an individualized plan is devised for each property to streamline operations and maximize client returns. With a comprehensive marketing strategy and an emphasis on efficient communication, Curran and Collin are a dynamic team with a track record of helping clients achieve their long-term investment goals.