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R a w L a n d f o r S a l e 20 Unit Mul�family

Leased Investment Opportunity

F o r M o r e I n f o r m a t i o n :

J e f f L . H u l i n g

B e s t C h o i c e R e a l t y , L L C

1 6 4 0 0 S o u t h c e n t e r P k w y

S u i t e # 5 0 2

S e a t t l e , W a s h i n g t o n

9 8 1 8 8

P h o n e : ( 2 0 6 ) 5 5 0 - 7 1 7 7

F a x : ( 2 0 6 ) 6 8 1 - 9 9 7 9

E m a i l :

J L H u l i n g @ c o m c a s t . n e t

The information contained herein has been received from sources we deem reliable. It is provided with-

out any representation, warranty or guarantee expressed or implied. All information should be inde-

pendently verified. CBA Listing #584275

8015-8019 Pacific Avenue; Tacoma, WA 98404

Investment Highlights

* Built in 2016

* Metered power and water

* Near schools, shopping, bus

* Granite countertops

* Washer/dryer in each unit

* A2ached garages

* 9 Foot interior ceilings

* Fenced pa4o and yard area

Offering Price: $3,800,000

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Construction of the Pacific Sunset Duplexes concluded in April of 2016. The development consists of ten,

three story townhome designed duplexes. Each unit is approximately 1013 rentable square feet with 2

bedrooms, 1 1/2 baths and an attached 1 car garage. Amenities include; granite counter top's, washer’s and

dryer’s in each unit, 9 foot interior ceilings, a fenced patio area and landscape irrigation system.

The complex is located on Pacific Avenue, a major north / south thoroughfare feeding the Interstate 5 cor-

ridor via 72nd Avenue to the north and 84th Avenue to the south. Local employers include the Port of Ta-

coma, US Joint Base Lewis-McCord, the State of WA and nationally known retailers. Seattle, Washington

is located 31 miles to the North and the state’s capital, Olympia, WA is 28 miles to the South.

Tenants pay for all utilities. Units are individually metered for power and water. Automatic lights come

on each evening at dusk. No dumpster onsite.

Pacific Sunset Duplexes Overview

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Pacific Sunset Duplexes Building Information

Number of Buildings: 10

Number of Units Each Building: 2

Total Number of Units: 20

Gross Building Area: 20,320 Square Feet

Unit Size: 16 units @ 1013 Square Feet & 4 units @ 1028 Square Feet

Unit Type: 2 - Bedrooms / 1.5 - baths

Number of Stories: 3

Elevators: None

Build Year: 2015

Construction Type: Wood frame

Foundation: Concrete slab foundation

Heat Type: Electric cadet wall mounted heating

Roof Type: Composition shingle

Water Source: Public

Sewer: Public, connected to each unit and billed direct with water

Tenant Power: Directly metered to each unit, paid by tenant

Tenant Water: Directly metered to each unit, paid by tenant

Garbage No dumpster, tenants have individual accounts with city

Parcel Numbers: 0320332095, 0320332003

Approximate Lot Size: 36,378 Square Feet/.84 Acres

Parcel Shape: Rectangular

Topography: Level

Number of Street Entrances: 2

Entrances Located at: Pacific Avenue on West end (165 front ft.). Bell Street on East end

Parking: 20 Attached garages and driveways, guest parking near Bell Street

Parcel Zoning: C-1

Flood Plain: No

Parcel Information

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Income and Operating Expenses

Pacific Sunset Duplexes, Tacoma, WA

Annualized Income:

Scheduled Gross Income: $309,840

Less Vacancy (5%) $15,492

Additional Income (Cleaning Fees) $750

Effective Gross Income: $295,098

Annual Operating Expenses:

Property Taxes 2017 $37,916

Accounting/Legal $750

Insurance $4,319

Surface Water/Common Water $1710

Professional Management (3%) $8,853

Repairs/Maintenance /Cleaning $10,719

Power $525

Total Expenses: $64,792 22% of EGI / $3,240 Per Unit

Net Operating Income: $230,306

Reserves: $200 Per Unit $4000

Monthly Scheduled Income

Number of Units Unit Type Unit Square Feet Unit Monthly Rent

20 2 Bedroom / 1.5 Bath 1013 $1250—$1295

Total Monthly

Rent

$25,820

Total Monthly

Income

$25,820

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Investment & Loan Information

Pacific Sunset Duplexes; Tacoma, WA

Sale Price: $3,800,000

30% Down Payment: $1,140,000

Loan Amount: $2,660,000

Term: 5 Years

Amortization: 30 Years

Interest Rate: 4.30%

Annual Debt Service $157,963

Net Operating Income: $230,306

Debt Service Coverage Ratio: 1.46

Maintenance Reserves $4000

Pre Tax Income After Debt Service: $68,343

Pre Tax Cash on Cash Return: 6.0%

Capitalization Rate: 6.1

Price Per Unit: $190,000

Gross Rent Multiplier 12.26

Price Per Rentable Square Foot: $187.00

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Comparable Property Sales for Pacific Sunset Duplexes

Subject Property

Address

Sale

Date

Sale

Price

Building

Sq. Ft.

Number

of Units

Year

Built

Price Per

Unit

Price Per

Foot

Comments

8015—8019 Pacific Ave

Tacoma, WA

N/A $3,800,000 20,320 20 2016 $190,000 $187.00 All utilities paid by ten-

ants, washer/dryer,

garage

Comparable

Sale Property

Address

Sale

Date

Sale

Price

Building

Sq. Ft.

Number

of Units

Year

Built

Price Per

Unit

Price Per

Foot

Comments

4034 S. Warner St

Tacoma, WA 98409

7/18/16 $2,300,000 18,214 14 2006 $164,285 $126.28 Landlord pays utilities,

garage, 3b/2b

2323 7th Street SE

Puyallup, WA 98374

10/10/16 $31,000,000 163,328 155 2000 $200,000 $193.35 71x 2 bed/2 bath, 1039

Sq. Ft., landlord pays

utilities, garage, pool

4346 S Lawrence Street

Tacoma, WA 98409

2/14/17 $1,935,000 18,100 12 2008 $161,250 $106.91 3 bed/2 bath, 1292 Sq.

Ft., tenants paying utili-

ties

5809 29th Street Court E

Fife, WA 98424

10/13/16 $445,000 3170 2 2004 $222,500 $140.38 Townhome styled du-

plex, 3bed/2.5bath,

1585 Sq. Ft, tenant pays

utilities

Rent Comparables

Subject

Property

Unit Type Unit Square

Feet

Monthly Rent Rent Per Foot Build Year Comments

8015—8019 Pacific Ave

Tacoma, WA

2 Bed / 1.5 Bath

1013 $1,295 $1.28 2016

Tenants pay utilities,

garage, w/d

Comparable

Rental Property

Address

Unit Type Unit Square

Feet

Monthly Rent Rent Per Foot Build Year Comments

3002 S 45th Street

Tacoma, WA 98409

3 Bed / 3.5 Bath 1527 $1595

$1.04

2009

Tenants pay utilities,

w/d, garage

1003 108th St Ct E

Tacoma, WA 98445

3 Bed / 2 Bath 1293 $1450 $1.12

2017

Tenants pay utilities,,

garage, w/d hook up

6707 35th Street W

University Place, WA

2 Bed / 1.5 Bath 1319

$1250

$0.95

1972

Tenants pays utilities,,

w/d, garage

403 North M Street

Tacoma, WA 98403

2 Bed / 1.5 Bath 1050 $1,300

$1.24

1978

Landlord pays utilities,

off street parking, w/d