427 Unit Multi-Family Investment Portfolio€¦ · School Colors: Silver and Vandal Gold Athletics: NCAA Division I; Western Athletic Conference Students: Enrolled from all 44 Idaho

Contact Information:

Mitch Swenson, CCIM 509 623 1000 [email protected]

Dave Black CCIM, SIOR 509 622 3535 [email protected] Black Commercial, Inc. 107 S. Howard, Suite 500 Spokane, WA 99201 direct 509 623 1000 fax 509 622 3500 www.naiblack.com

427 Unit Multi-Family Investment Portfolio For Sale—$29,000,000 ($67,916/Unit) Pullman, WA and Moscow, ID

The information contained herein has been given to us by the owner of the property or other sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase or lease.

The Cougar Apartments

The Laurel Apartments

The Aegis Apartments

The Valley View Apartments

The Elysian Four-Plexes

The Notus Apartments

The Hayes Street Apartments

The Washington Duplex


See list on Page 4 for addresses



See list on Page 4 for addresses



Dave Black CCIM, SIOR 509 622 3535 [email protected]

Black Commercial, Inc. 107 S. Howard, #500, Spokane, WA 99201 direct 509 623 1000 fax 509 622 3500 www.naiblack.com


PULLMAN, WA 99163 The Aegis Apartments, 1610 Wheatland Drive NE The Cougar Apartments, 205 Larry Street NW The Eos Apartments, 1235 Hillside Drive NE The Lamont One Apartments, 1830 Lamont Street NW The Lamont Two Apartments, 1810 Lamont Street NW The Laurel Apartments, 1585 Turner Drive NW The Lethe I Apartments, 1605 Valley Road NE The Lethe II Apartments, 1635 Valley Road NE 99163 The Loft and Studio Apartments, 1215 Stadium Way NE The Morton Street Apartments, 545 Morton Street NE The Olympus Plus Apartments, 1200 Hillside Circle NE The Triplex on Wheatland Drive Apartments, 1510 Wheatland Drive NE The Valley View Apartments, 1325 - 1425 Valley Road NE The West View Apartments, 1130 - 1146 Markley Drive NE The Duplex Apartments, 1270 Hillside Drive NE The House on Hillside Drive, 1260 Hillside Drive NE MOSCOW, ID 83843 THE ELYSIAN FOURPLEXES, 1122 E. Third Street The Hayes Street Apartments, 118 S. Hayes Street The Lilly Apartments, 410 S. Lilly Street The Notus Apartments, 200 Lauder Avenue The Spotswood Apartments, 317 Spotswood Street The House on 117 N. Asbury, 117 N. Asbury Street The House on Garfield, 206 Garfield Street The House on 207 N. Asbury, 207 N. Asbury Street The House on 303 Styner, 303 Styner Avenue The House on 309 Styner, 309 Styner Avenue The House on Fourth Street, 416 W. Fourth Street The House on Washington, 428 N. Washington Street The Washington Duplex, 420-422 N. Washington Street The Cottage on Hawthorne Drive, 1413 Hawthorne Drive





Dave Black CCIM, SIOR 509 622 3535 [email protected] Black Commercial, Inc. 107 S. Howard, Suite 500 Spokane, WA 99201 direct 509 623 1000 fax 509 622 3500 www.naiblack.com

Pullman & Moscow

Regional Data Pullman is located in the southeastern part of Whitman County, Washington. The city is composed of four quadrants divided by Grand Avenue and Main Street. Washington State University (WSU) is located in the northeast quadrant named College Hill. The northwest area is called Military Hill, comprised mostly of single family residential and apartments. The southwest quadrant is Sunnyside Hill, which contains mostly single family residential. The southeast quadrant is called Pioneer Hill and contains multiple commercial developments. Pullman’s population is estimated at 31,000, with a median resident age of 22.3 (Source: US Census Bureau). WSU students make up approximately 63% of Pullman’s population. WSU is the engine that drives the Pullman community, economically, socially, environmentally, and politically. WSU claims to have 4,114 people employed on the Pullman campus as of Fall 2013. According to the Moscow Chamber of Commerce, five of the ten biggest employers in the region are located in Pullman: WSU, Schweitzer Engineering (SEL Inc), the City of Pullman, Pullman Regional Hospital, and Pullman School District. Approximately 65% of households in Pullman are non-family households (Source: US Census Bureau, 2010 Census of Population and Housing). Non-family households are defined as an individual living alone or with other non-related individuals. Among housing units in Pullman, 62.5% of them are renter-occupied (Source: US Census Bureau). Moscow, located just east of Pullman across the Washington-Idaho border, is home to the University of Idaho. Within a 3 mile radius of the city, Moscow’s population is about 24,500. The median Moscow resident age is 24.2 years. For the population of Moscow 25 years or older, 96.2% hold a high school diploma or higher while at least 52.7% have earned a bachelor’s degree or higher (Source: US Census Bureau).







WSU is among the nation's top 60 public research universities, according to the U.S. News and World Report 2011 rankings (published 2010).

International students at Pullman: 1,799

ACADEMIC PROGRAMS Academic majors: More than 200 fields of study

Colleges: 10 colleges

CAMPUS LOCATIONS AND ENROLLMENT (2013) Enrollment by campus: Pullman: 19,446 Spokane: 1,367 Tri-Cities: 1,347 Vancouver: 3,097 WSU Online: 2,376 Total: 27,642 * Students enroll at multiple campuses; the sum of all campuses does not equal the total.

STUDENT PROFILE Average student age (all campuses): Undergraduate: 23 Graduate: 31 Gender (all campuses): Men: 49% Women: 51%






Founded: 1889

Location: Moscow, Idaho (pop. 23,800)

Enrollment: 12,493

Faculty & Staff: 2,464 ±

President: Chuck Staben

Nickname: Vandals

School Colors: Silver and Vandal Gold

Athletics: NCAA Division I; Western Athletic Conference

Students:

Enrolled from all 44 Idaho counties, 50 states (plus the District of Columbia and Puerto Rico) and 74 foreign countries.

Student population is 54 percent male and 46 percent female

Student/Faculty Ratio: 18 to 1 Fall Freshman Profile:

Total enrollment: 1,631

47 percent boast a grade point average of 3.5 or greater

3.38 was the average GPA

23.2 was the average ACT Composite

Graduation Rate:

The University's six-year graduation rate is 56%

Annual Student Fees/Tuition (FY 2014-2015) Resident Undergraduate: $6,212 Graduate: $7,162 Law: $15,036 Nonresident Undergraduate: $19,000 Nonresident Graduate: $19,950 Nonresident Law: $27,824

University Facts








Dave Black, CCIM, SIOR 509 622 3535 [email protected]

Black Commercial, Inc. 107 S. Howard, Suite 500 Spokane, WA 99201 direct 509 623 1000 fax 509 622 3500 www.naiblack.com

Pullman, WA Demographics:

Population Within 1 Mile: 18,045 Within 3 Miles: 30,751 Within 5 Miles: 31,402

Average Household Income Within 1 Mile: $45,871 Within 3 Miles: $46,728

Moscow, ID Demographics:

Population Within 1 Mile: 17,055 Within 3 Miles: 25,759 Within 5 Miles: 26,801

Average Household Income Within 1 Mile: $41,421 Within 3 Miles: $47,581



Investment Proforma Analysis

ALL INFORMATION IS BELIEVED TO BE ACCURATE; HOWEVER, IT IS THE RESPONSIBILITY OF THE BUYER TO VERIFY ALL INFORMATION PRIOR TO PURCHASE.

NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE INFORMATION CONTAINED HEREIN, AND THE SAME IS SUBMITTED

SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE OR FINANCING, OR WITHDRAWAL WITHOUT NOTICE, AND OF

ANY SPECIAL LISTING CONDITIONS IMPOSED BY OUR PRINCIPALS NO WARRANTIES OR REPRESENTATIONS ARE MADE AS TO THE CONDITION OF THE PROPERTY OR ANY

HAZARDS CONTAINED THEREIN OR ANY TO BE IMPLIED.

Prepared by Mitch Swenson with Black Commercial, Inc., an NAI Black company.

427 Unit Multi-Family Investment Portfolio€¦ · School Colors: Silver and Vandal Gold Athletics: NCAA Division I; Western Athletic Conference Students: Enrolled from all 44 Idaho

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