Overview

The ownership of East Wenatchee Village Property is in the process of obtaining CUP-PRD (Conditional Use Permit – Planned Residential Development) approvals for the 272 unit multifamily project described in this offering memorandum.

Pepper Hill is zoned MB – Mixed Business under Shoreline’s zoning, which allows a wide array of uses including multifamily, office, hospitality, medical, lab and a variety of other commercial uses, with no FAR limitation.

The ownership anticipates receiving these approvals this summer.

Buyer will close sale upon CUP-PRD Issuance by the City of East Wenatchee. Buyer responsible for building permit submission and approval.

Site Plan

Property Summary

Address 460 Rock Island Road
East Wenatchee, WA
County Douglas
Land Area 281,906 sq. ft. / 6.47 acres
Planned Parking 319 stalls
Compact 25% - 80 stalls
Unit Count Studios: 40
1 Bedroom: 176
2 Bedrooms: 56
Total Units: 272
Total Buildings 10 – 9 Residential & 1 Rec Building

Planned 272-unit 10 building multifamily project in East Wenatchee in close proximity to the Columbia River and the city of Wenatchee

Location

East Wenatchee Village is located adjacent to the Columbia River in East Wenatchee.

Wenatchee is located about 140 miles east of Seattle, just over the Cascade Mountains in Eastern Washington, which is a high desert region comprising over 2/3rds of the land area of Washington.

Wenatchee is considered the “Apple Capital” of the state, however Eastern Washington is one of the largest agriculture regions in the country, producing a wide array of produce and is the second largest wine production region in the United States.

Wenatchee is the second largest city in Eastern Washington and is currently experiencing significant population growth.

CURRENT VACANCY RATE IS BELOW 2%

Riverfront Village is well-positioned to attract new residents from Wenatchee, as well as part-time and retirement “west side” residents coming from Seattle, Tacoma, and Portland, Oregon.

Neighborhood Amenities

3-Mile Radius Demographics

46,778

POPULATION

17,175

HOUSEHOLDS

$127,980

AVG HH INCOME

35

POP. MEDIAN AGE


East Wenatchee Statistics

Due Diligence

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