$3,400,000
For Sale

2362 Franklin Avenue E

Seattle, WA 98102
8328 sqft | #2072907
Courtesy of Kidder Mathews

Description

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).
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  • Interior Details
    • Interior Features
      • Interior:Wall to Wall Carpet
  • Property Details
    • Property
      • Stories:74
      • Lot description:Alley, Curbs, Paved, Sidewalk
      • Exterior features:Fenced-Partially
      • Exterior materials:Stucco, Wood, Wood Products
    • Measurements
      • Acres:0.1515
      • Square Feet:8328
  • Construction Details
    • Type & Style
      • Property type:Investment
      • Architectural style:53 - Tri-plex
    • Condition
      • Year built:1967
    • Material information
      • Foundation:Poured Concrete
  • Utilities / Energy Details
    • Utility
      • Sewer information:Sewer Connected
      • Utility source:Public
  • Community and Neighborhood Details
    • Location
      • School district:Seattle
      • Elementary School:Montlake
      • Middle School:Meany Mid
      • High School:Garfield High
      • County:King
    • Community
      • Subdivision:Eastlake
  • Financial Details
    • Pricing Details
      • Buying Agency Compensation:2.25
      • Original List Price:$3, 400, 000
      • Annual taxes:$26, 446
  • Other
    • Source
      • MLS #:2072907

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Disclaimer: The information contained in this listing has not been verified by Northwest Multiple Listing Service (NWMLS) - 21 - WA and should be verified by the buyer.

The database information herein is provided from and copyrighted by the Northwest Multiple Listing Service (NWMLS). NWMLS data may not be reproduced or redistributed and is only for people viewing this site. Listings that feature the "three tree" icon are provided courtesy of NWMLS. All information provided is deemed reliable but is not guaranteed and should be independently verified. All properties are subject to prior sale or withdrawal. All rights are reserved by copyright.

Copyright 2022 Northwest Multiple Listing Service. All rights reserved.



Last Updated: . Source: NWMLS

Listing Courtesy
Listing Agent: Dan Swanson(#NWM38720)
Listing Office: Kidder Mathews (#NWM128)

Real Property Associates, Inc.
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    Claims of Copyright Infringement & Related Issues

    Disclaimer: The information contained in this listing has not been verified by Northwest Multiple Listing Service (NWMLS) - 21 - WA and should be verified by the buyer.

    The database information herein is provided from and copyrighted by the Northwest Multiple Listing Service (NWMLS). NWMLS data may not be reproduced or redistributed and is only for people viewing this site. Listings that feature the "three tree" icon are provided courtesy of NWMLS. All information provided is deemed reliable but is not guaranteed and should be independently verified. All properties are subject to prior sale or withdrawal. All rights are reserved by copyright.

    Copyright 2022 Northwest Multiple Listing Service. All rights reserved.



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