EAST JEFFERSON TRIPLEX

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Coleen Young
5 years ago
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1 EAST JEFFERSON TRIPLEX

2 OFFERING Paragon Real Estate Advisors is pleased to offer for sale the East Jefferson Triplex. This triplex is located on a corner lot across the street from Seattle University in the Central District bordering the First Hill and Capitol Hill neighborhoods. This vibrant urban neighborhood is highly sought after for its unique diversity, new and interesting restaurants, nightlife venues and ease of access to Downtown Seattle. In recent years 12th Avenue from James Street to Yesler Street has experienced a dramatic urban renaissance and East Jefferson Street between 10th and 14th avenues is at the center of this transformation. Peleton Café (named on 2016 Seattle Met list of best new restaurants) Nate s Wings and Waffles (affiliated with NBA star Nate Robinson), Seven Beef (Eric Banh s new Vietnamese Steakhouse) and L Oursin restaurant have all opened new locations on East Jefferson Street. The neighborhood vibrancy will continue to be enhanced through additional development from the expansion of the Seattle University and Swedish Cherry Hill campuses and the 13 room boutique hotel planned for the SW corner of 13th and Jefferson. NAME East Jefferson Triplex ADDRESS 1015 E Jefferson St, Seattle WA TOTAL UNITS 3 BUILT 1988 RESIDENTIAL SQ.FT. 2,080 Net Rentable PRICE $1,295,000 LOT SIZE 1,980 Square Feet ZONING Mid Rise

3 East Jefferson Triplex

PROPERTY HIGHLIGHTS Units have been well maintained Excellent

zoned midrise Low-maintenance design with minimal common areas

Swedish First Hill campuses Machine House Brewery (coming soon)

block away on Broadway Ave Easy access to bus lines, light rail

4 PROPERTY HIGHLIGHTS Units have been well maintained Excellent rental market On-site parking All two-bedroom units Corner lot zoned midrise Low-maintenance design with minimal common areas and landscaping Close to both the Swedish Cherry Hill and Swedish First Hill campuses Machine House Brewery (coming soon) is located within three blocks First Hill Streetcar located one block away on Broadway Ave Easy access to bus lines, light rail and all major interstates Walk Score of 93 Close to Seattle University

CENTRAL DISTRICT HIGHLIGHTS Superior Central District location blocks east of the Seattle

Walkable to major employers in the Seattle Central Business District and South Lake Union

Easy access to Interstate 5 as well as Interstate 90 and State Route 520 to Bellevue.

12th Avenue Square Park Walking distance to Seattle Central College, Seattle University and

5 CENTRAL DISTRICT HIGHLIGHTS Superior Central District location blocks east of the Seattle Central Business District. Walkable to major employers in the Seattle Central Business District and South Lake Union neighborhoods. Easy access to Interstate 5 as well as Interstate 90 and State Route 520 to Bellevue. WALK SCORE 93 Walking distance to Seattle University Park and nearby neighborhood parks like the 12th Avenue Square Park Walking distance to Seattle Central College, Seattle University and Seattle Academy of Arts & Sciences. Sound Link Light Rail Less than a 20-minute walk to the Capitol Hill Light Rail Station with service to places like Downtown Seattle, Century Link Field, Pioneer Square, Northgate and the Seattle Tacoma Airport. TRANSIT SCORE 100 BIKE SCORE 78

6 NEIGHBORHOOD MAP SEATTLE CBD EAST JEFFERSON TRIPLEX CAL ANDERSON PARK SOUTH LAKE UNION CAPITOL HILL LAKE UNION VOLUNTEER PARK

AMENITIES MAP COFFEE 1 Peloton Cafe 2 Cherry Street Coffee House 14 RESTAURANTS & BARS 3 L Oursin 4 Oma Bap 5 Cedars in Capitol Hill 15 6 Nates Wings & Waffles 7 Seven Beef Steak Shop 8 The

7 AMENITIES MAP COFFEE 1 Peloton Cafe 2 Cherry Street Coffee House 14 RESTAURANTS & BARS 3 L Oursin 4 Oma Bap 5 Cedars in Capitol Hill 15 6 Nates Wings & Waffles 7 Seven Beef Steak Shop 8 The Lemongrass Restaurant Seattle University 9 Taste of the Caribbean 10 Ba Bar 11 Happy Grillmore 12 Machine House Brewery (Coming Soon) PARKS 13 Seattle University Park & Track 14 TT Minor Playground 15 Spring Street Mini Park Swedish First Hill Swedish Cherry Hill Horiuchi Park 17 Firehouse Mini Park 18 Champion Field Harborview Medical Center 16

CENTRAL DISTRICT The Central District is on the east side of Capitol Hill and is considered one of the oldest surviving residential

Throughout its history it has seen many changes in demographics and politics, but has recently seen a period of new construction and

Easily accessible to all major interstates and public transportation, the Central District features some of Seattle s most

Washington Middle School, TT Minor School, and Washington Hall.

Other popular restaurants in the area include Ba Bar Restaurant, Rhein Haus Seattle, Moonlight Café, Seven Beef Steak Shop, and

8 CENTRAL DISTRICT The Central District is on the east side of Capitol Hill and is considered one of the oldest surviving residential neighborhoods in the city. Throughout its history it has seen many changes in demographics and politics, but has recently seen a period of new construction and community improvement projects. Easily accessible to all major interstates and public transportation, the Central District features some of Seattle s most well-known landmarks and institutions including Garfield High School, Langston Hughes Performing Arts Center, Ezell s Chicken, and Washington Middle School, TT Minor School, and Washington Hall. The infamous Skillet food truck expanded to its first actual restaurant here in the Central District. Other popular restaurants in the area include Ba Bar Restaurant, Rhein Haus Seattle, Moonlight Café, Seven Beef Steak Shop, and Seattle Fish Guys. Located nearby are many academic institutions including Seattle University, Seattle Central College and the Seattle Vocational Institute. The University of Washington is a short 10 minute drive away. Both I5 and I90 are easily accessible with on ramps less than a mile from the subject property. Bus lines are a short walk from the triplex and the First Hill Street Car takes you directly to the International District Light Rail Station.

9 MAJOR EMPLOYERS - CENTRAL BUSINESS DISTRICT

10 MAJOR EMPLOYERS - SOUTH LAKE UNION

11 BUILDING PHOTOS

12 UNIT EXTERIOR PHOTOS

13 UNIT EXTERIOR PHOTOS

Income and Expenses EAST JEFFERSON TRIPLEX MONTHLY INCOME CURRENT MARKET Gross Potential Rent $5,520 $6,400 Utility Reimbursement $188 $225 Parking Income $95 $200 Other Income $100 $100 Total

14 Income and Expenses EAST JEFFERSON TRIPLEX MONTHLY INCOME CURRENT MARKET Gross Potential Rent $5,520 $6,400 Utility Reimbursement $188 $225 Parking Income $95 $200 Other Income $100 $100 Total Monthly Income $5,903 $6,925 ANNUALIZED OPERATING DATA CURRENT MARKET Scheduled Gross Income $70,836 $83,100 Less Vacancy 2.0% $1, % $2,493 Gross Operating Income $69,419 $80,607 Less Expenses $13,634 $16,368 Net Operating Income $55,785 $64,239 ANNUALIZED OPERATING EXPENSES CURRENT MARKET UNITS UNIT TYPE SIZE CURRENT RENT MARKET RENT 1 2 Bd/1 Bth 670 $1,800 $2, Bd/1 Bth 710 $1,845 $2, Bd/1 Bth 700 $1,875 $2,150 3 Total/Avg 693 $2.65 $3.08 Real Estate Taxes Actual 2018 $5,166 $7,900 Insurance Actual 2018 $1,074 $1,074 Utilities Actual 2017 $2,644 $2,644 Maintenance & Repairs Proforma $3,750 $3,750 Landscaping Proforma $1,000 $1,000 Total Expenses $13,634 $16,368

15 600 University St, Suite 2018 Seattle Washington / info@paragonrea.com

23,760 SF ASSEMBLAGE ZONED LR2

MAPLE LEAF TOWNHOUSE OR MULTI-FAMILY DEVELOPMENT OPPORTUNITY Under Construction: Townhouse Development Under Construction: 6-Story Multifamily Project 23,760 SF ASSEMBLAGE ZONED LR2 2020, 2024, 2100 &