Provided by NWMLS, Bought with ZNonMember-Office-MLS and Listed by Kidder Mathews

Sold

2362 Franklin Avenue E

Seattle WA, 98102

$3,250,000


$390.25 per sqft

Sold

8,328 sqft

Multi-family

Built in 1967

Built in 1967, the Franklin is in the Eastlake neighborhood, an 'A' location on the shores of Lake Union just north of Downtown Seattle. The Franklin offers a new owner solid cash flow with substantial upside. Each of the 8 units are likely over 900 SF and rent for an average of nearly $2,450 per month. The most recent turnovers achieved $2,995 plus parking and utilities with a full remodel and $2,495 plus parking and utilities for a basic turnover. Projecting these rents across the rent roll will likely achieve a 5.45% cap rate! For even higher returns, a new owner can likely construct 8 additional units on site (buyer to verify).

2072907

MLS ID

May 25, 2023

Listed

November 22, 2024

Updated

Map

2362 Franklin Avenue E
Seattle WA, 98102

Interior Features

Total Stories

74


Interior Features

Wall to Wall Carpet


Floor Description

Vinyl, Vinyl Plank, Carpet


Fireplace

No


Cooling

No


Cooling Description

None


Heating

Yes


Heating Description

Radiant

Exterior/Building Features

Lot Size

0.15 Acres


Exterior Features

Stucco, Wood, Wood Products


Lot Features

Alley, Curbs, Paved, Sidewalk


Roof

Flat


Sewer

Sewer Connected

School Information

School District

Seattle


High School

Garfield High


Elementary School

Montlake

Other Property Details

Area Name

390 - Central Seattle


Taxes

$26,446


Tax Frequency

Annually


Garage

No


Parking Total

8


View

No


County

King


Water Source

Public


Pool

No

The IDX display presents information sourced from the Northwest Multiple Listing Service as of 12/23/2024. The data is intended for personal, non-commercial use and should not be used for any other purpose except to identify potential properties for purchase. While the MLS data displayed is generally deemed reliable, it is NOT guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. The property locations displayed on any map are merely best approximations and exact locations should be independently verified. Based on information submitted to the MLS GRID as of 12/23/2024 at 1:00 PM UTC . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

©2024 Northwest Multiple Listing Service all rights reserved.

Data last updated on 12/23/2024 at 1:00 PM UTC 

Powered byLuxury Presence