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Hampton CourtA P A R T M E N T S
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BALLARD
CAPITOL HILL
ALKI BEACH
QUEEN ANNE
SEATTLE CBD
WEST SEATTLE WEST SEATTLE BRIDGE
CALI
FORNIA
AVE
SW
ELLIOTT BAY
STADIUM DISTRICT
WATER TAXI
WEST SEATTLE GOLF COURSE
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NAME Hampton Court Apartments
ADDRESS 5417 Fauntleroy Way SW, Seattle WA 98136
TOTAL UNITS 6
BUILT 1990
SQUARE FEET 4,800 Total Net Rentable
PRICE $1,900,000
PRICE PER UNIT $316,667
PRICE PER FOOT $395.83
CURRENT GRM/CAP 16.8/4.0%
LOT SIZE 6,000 Square Feet
ZONING LR1
O F F E R I N G
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.
Paragon Real Estate Advisors is pleased to exclusively offer for sale the Hampton Court Apartments, a well located 6-unit apartment building in the very walkable and amenity rich West Seattle neighborhood. The building was constructed in 1990 and offers a nice mix of one-bedroom and two-bedroom units with open and spacious floor plans. The apartments boasts full appliance packages and separate utility rooms with washers/dryers.
The Hampton Court Apartments offers great walkability to neighborhood amenities and quick access to the tech employment centers of South Lake Union and Downtown Seattle. West Seattle’s vibrant Alaska Junction (known locally as “the Junction”) is home to over 150 businesses including a mix of old and new favorites for shopping, dining, entertainment and services. Its location in the heart of West Seattle’s urban village offers residents easy access to the Metro Rapid Ride Transit Hub which connects West Seattle to employment centers in Downtown Seattle and South Lake Union. This area will also be home to West Seattle’s light rail station slated to be built just to the north.
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� West Seattle’s A+ location
� Rapid Ride C line, Future Light Rail location and direct access to employment centers
� 1990 construction with low maintenance features
� Modern systems including copper plumbing and fire sprinkler system
� Composition roof and individual breaker system
I N V E S T M E N T H I G H L I G H T S
Hampton CourtA P A R T M E N T S
� Value add potential with significant rental upside
� Garden/patio area for residents
� Washer and dryer in each unit
� Off-street parking for residents
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L O C A T I O N H I G H L I G H T S
West Seattle is one of the only neighborhoods you don’t have to drive through to get to another neighborhood. It’s located along the peninsula just West of downtown Seattle. It provides a quick 10 minute drive time to downtown Seattle during non-commuter times which makes it an attractive place to live, play, and work with quick access to Seahawks’ Century Link Stadium and Mariners Safeco Field. West Seattle residents can get to downtown by car, bike, Metro’s Rapid Ride C-line, West Seattle’s passenger ferry as well as the future light rail service. West Seattle is the number one neighborhood in the United States searched by Silicon Valley residents looking to relocate.
� Located near West Seattle’s shopping Mecca at Alaska Junction
� Easy access to local transit options via Metro Transit and Link Light Rail
� Walk to restaurants, cafés, and shopping
� Easy access to the West Seattle Bridge and CBD
� Close to many of West Seattle’s parks and outdoor recreational areas
POPULATION
57,982
MEDIAN INCOME
$92,837
COMMUTE TO DOWNTOWN
12 Minutes
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W E S T S E A T T L E
West Seattle is one of Seattle’s core residential neighborhoods and is currently ranked among the top neighborhoods in the United States to be searched by Silicon Valley residents looking to relocate. Known as the birthplace of Seattle this charming area provides a relatively quick commute to Seattle’s Central Business District. It is known for its natural beauty and waterfront beach community feel. It is home to two of Seattle’s largest waterfront parks, Lincoln Park, a 135-acre waterfront park with walking and bike trails, a saltwater pool, picnic and play areas, beach access, and Alki Beach Park, which is a 2.5 mile beach with sandy beaches, beach volleyball courts, bike and jogging lanes and many restaurants, pubs and many yearly events for everyone to enjoy.
For entertainment and services, the both the Alaska Junction and Morgan Junction retail areas are located mere blocks away. Shopping, dining, drinking, concert going, coffee sipping, wine tasting, and farmers-markets make this area the retail core of the neighborhood. On top of community events like art walks, seasonal festivals, open mic nights, and outdoor movie nights ensure the area is enjoyed by locals and visitors all year round.
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M A J O R E M P L O Y E R S - C E N T R A L B U S I N E S S D I S T R I C T
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M A J O R E M P L O Y E R S - S O U T H L A K E U N I O N
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B U I L D I N G P H O T O S
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U N I T P H O T O S
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F L O O R P L A N S
FIRST FLOOR SECOND FLOOR THIRD FLOOR
Unit 101 Unit 201 Unit 301
Unit 102 Unit 202 Unit 302
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Unit Breakdown
UNIT
TYPE
APPROXIMATE
UNIT SIZE
CURRENT
RENT
CURRENT
RENT/SQ.FT.
MARKET
RENT
MARKET
RENT/SQ.FT.
101 1 Bd/1 Bth 700 Sq.Ft. $1,500 $2.14 $1,595 $2.28
102 2 Bd/1 Bth 900 Sq.Ft. $1,650 $1.83 $1,945 $2.16
201 1 Bd/1 Bth 700 Sq.Ft. $1,500 $2.14 $1,595 $2.28
202 2 Bd/1 Bth 900 Sq.Ft. $1,650 $1.83 $1,945 $2.16
301 1 Bd/1 Bth 700 Sq.Ft. $1,550 $2.21 $1,595 $2.28
302 2 Bd/1 Bth 900 Sq.Ft. $1,600 $1.78 $1,945 $2.16
Totals/Avg 800 Sq.Ft. $1,575 $1.97 $1,770 $2.21
Hampton CourtA P A R T M E N T S
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MONTHLY INCOME CURRENT MARKET
Gross Potential Rent $9,450 $10,620
Parking Income (6 Stalls) $0 $300
Utility Bill Back $0 $510
Storage Income $0 $0
Laundry (In Each Unit) $0 $0
Miscellaneous $0 $30
Total Monthly Income $9,450 $11,460
ANNUALIZED OPERATING DATA CURRENT MARKET
Scheduled Gross Income $113,400 $137,520
Less Vacancy 2.0% $2,268 4.0% $5,501
Gross Operating Income $111,132 $132,019
Less Expenses $34,484 $35,848
Net Operating Income $76,648 $96,171
Annual Debt Service ($5,067/mo) $60,802 $60,802
Cash Flow Before Tax 1.76% $15,846 3.93% $35,369
Principal Reduction $16,132 $16,132
Total Return Before Tax 3.55% $31,978 5.72% $51,501
Income and Expenses
ANNUALIZED OPERATING EXPENSES CURRENT MARKET
RE Taxes 2018 $13,836 $15,200
Insurance Quote $2,709 $2,709
Utilities 2017 $9,089 $9,089
Maint/Repairs Proforma $5,400 $5,400
Landscaping 2017 $1,500 $1,500
Admin/Legal Proforma $300 $300
Reserves Proforma $1,650 $1,650
Total Expenses $34,484 $35,848
UNITS
UNIT
TYPE
SIZE
CURRENT
RENT
MARKET
RENT
3 1 Bd/1 Bth 700 $1,500 - $1,550 $1,595
3 2 Bd/1 Bth 900 $1,600 - $1,650 $1,945
6 Total/Avg 800 $1.97 $2.21
Units 6
Year Built 1990
Rentable Area 4,800 Sq.Ft.
Down Pmt $900,000
Loan Amount $1,000,000
Interest Rate 4.50%
Amortization 30 years
Price $1,900,000
Per Unit $316,667
Per Sq. Ft. $395.83
Current GRM 16.75
Current CAP 4.03%
Market GRM 13.82
Market CAP 5.06%
Expense/Unit $5,747
Expense/Foot $7.18
Percent of EGI 31.03%
Expense/Unit $5,975
Expense/Foot $7.47
Percent of EGI 27.15%
CURRENT
OPERATIONS
MARKET
OPERATIONS
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Junction 8 4001 SW Edmunds Seattle, WA 98116
1 Year Built 1987 Units 8 Sales Price $2,525,000 Price/Unit $315,625 Price/Foot $404.06 GRM/CAP 18.5/3.8% Sales Date 6.28.2018
Alki Canoe Club 3036 60th Ave SW Seattle, WA 98116
2 Year Built 1984 Units 12 Sales Price $4,419,080 Price/Unit $368,257 Price/Foot $420.86 GRM/CAP 16.5/4.2% Sales Date 10.31.2017
Orion Place 4127 California Ave SW Seattle, WA 98116
3 Year Built 1960 Units 6 Sales Price $1,850,000 Price/Unit $308,333 Price/Foot $336.73 GRM/CAP Unknown Sales Date 9.8.2017
1
3
2
S A L E S C O M P A R A B L E S
12 Unit Apartment 1526 44th Ave SW Seattle, WA 98116
4 Year Built 1991 Units 12 Sales Price $3,475,000 Price/Unit $289,583 Price/Foot $372.83 GRM/CAP 17.2/3.8% Sales Date 7.14.2017
Admiral Apartments 3056 60th Ave SW Seattle, WA 98116
5 Year Built 1993 Units 7 Sales Price $2,425,000 Price/Unit $346,429 Price/Foot $413.61 GRM/CAP 18.9/3.5% Sales Date 7.10.2017
4
5
Hampton Court Apartments 5417 Fauntleroy Way SW Seattle, WA 98136Year Built 1990 Units 6 Sales Price $1,900,000 Price/Unit $316,667 Price/Foot $395.83 Current GRM/CAP 16.8/4.0% Market GRM/CAP 13.8/5.1%
Hampton CourtA P A R T M E N T S
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1
Hampton Court Apts 5417 Fauntleroy Way SW Seattle, WA 98136
1990 - 6 Units
1Bd/1Bth2Bd/1Bth
700900
$1,500 - $1,550$1,600 - $1,650
$2.14 - $2.21$1.78 - $1.83
Whittaker Apartments 4755 Fauntleroy Way SW Seattle, WA 98116
2016 - 389 Units
1Bd/1Bth1Bd/1Bth2Bd/1Bth
559 - 608674835
$1,737 - $1,947$1,967 - $1,972
$2,829
$3.20 - $3.10$2.92 - $2.93
$3.39
Elan 41 4100 SW Edmunds St Seattle, WA 98116
1987 - 78 Units
1Bd/1Bth2Bd/1Bth
760 - 795950 - 1,000
$1,755 - $1,962$2,258 - $2,747
$2.31 - $2.47$2.38 - $2.75
City Watch Apartments 4744 41st Ave SW Seattle, WA 98116
1993 - 96 Units
1Bd/1Bth2Bd/1Bth
837 - 844903 - 1,060
$1,595$2,095 - $2,295
$1.89 - $1.91$2.17 - $2.32
Broadstone Sky 4745 40th Ave SW Seattle, WA 98116
2015 - 151 Units
1Bd/1Bth2Bd/1Bth
555 - 671968
$1,585 - $1,575$2,865
$2.35 - $2.86$2.96
Sound Breeze Apartments 5034 Fauntleroy Way SW Seattle, WA 98136
1954 - 6 Units
2Bd/1Bth 904 $1,950 - $2,095 $2.15 - $2.81
2
R E N T C O M P A R A B L E S
3
4
3
12
4
Hampton CourtA P A R T M E N T S
5
5
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600 University St, Suite 2018
Seattle Washington 98101
206 623-8880 / [email protected]
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.