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