INVESTOR BRIEF: APARTMENTS RE-DEVELOPMENT Acquisition Price: $875,000 ($35,000/Door) Verified Equity: $60,000+ Instant "Paper Equity" upon purchase This apartments project is a de-risked, high-density multifamily development opportunity in Lakewood, WA. This asset is being sold as a "Ready-for-Submittal" package, including a professional 2021 Appraisal and over $100,000 in pre-paid engineering and mechanical design. I. THIRD-PARTY VALUE VALIDATION (THE APPRAISAL) A comprehensive 2021 Appraisal Report (available in the DD room) provides immediate confidence in the asset’s basis: • Market Value Opinion: $935,000 as of May 2021. • Highest & Best Use: Officially concluded as Multifamily Redevelopment. • Strategy: Offered at $875,000—representing a $60,000 discount to the bank-appraised land value, despite significant soft-cost value added since the report date. II. DENSITY & ZONING (MF3) • High-Density Framework: Zoning is MF-3 (High-Density Multifamily), which allows for 54 dwelling units per acre. • Site Capacity: On this 0.45-acre level parcel, the City supports the high-yield 25-unit project concept featured in the design set. III. THE "DRAINAGE DIVIDEND" ($250k+ SAVINGS) One of the site’s strongest economic drivers is its superior soil profile, verified by GeoConsult: • Soil Type: Native Continental Glacial Outwash (gravel and cobbles). • Infiltration Rate: Verified design rate of 20.0 inches per hour. • Savings: Allows for low-cost underground drywells instead of massive concrete detention vaults ($250k+) typically required in Pierce County. IV. "READY-FOR-SUBMITTAL" PACKAGE (INCLUDED) Save 6+ months of carry costs. The following completed sets are included: • HVAC Design • Electrical Engineering: Complete demand load calculations and 25-unit riser diagrams. • Civil Engineering: Preliminary grading, utility, and site plans. • Landscape & Arborist: Full planting schedules and tree retention plans. V. TAX INCENTIVE & INTERIM INCOME • 12-Year MFTE: Confirmed eligibility for the City of Lakewood’s 12-Year Multi-Family Tax Exemption. • Current Cash Flow: Two occupied residences generating $3,700/mo in gross carry income to offset permitting costs. VI. MARKET ABSORPTION DATA The submarket exhibits a tight 3.92% vacancy rate. Nearby new builds (Wellstone) achieved absorption rates of 23 units per month, indicating a 25-unit building on this site can reach full stabilization within 90 days. DD ROOM FOLDER LIST (NDA Required): 1. 2021 Appraisal Report ($935k Valuation) 2. HVAC Design Set 3. GeoConsult Report 4. 25-Unit Electrical Load Calcs 5. Preliminary Civil & Topographic Set 6. City of Lakewood MFTE Eligibility Letter VII. DUAL-EXIT STRATEGY: CONDO CONVERSION POTENTIAL While designed as a high-performing rental asset, this project offers a lucrative secondary exit strategy. The site’s high-density MF-3 zoning and the "Class A" nature of the mechanical design support a future conversion to individual condominiums. • The Arbitrage: In the 98499 core, the combined retail value of 25 individual condos historically exceeds the "bulk" value of a rental building by a significant margin. • Market Demand: With a shortage of entry-level homeownership in Lakewood, these units are perfectly positioned for first-time buyers or military families looking to build equity rather than rent. DISCLOSURES: Owner is a licensed real estate broker in the State of Washington and is the co-listing agent.