LISTING DETAILS

The Franklin

2362 Franklin Ave E Seattle WA 98102

Listing #: 664307 | Status: Available | Last Modified: 6/21/2023

Showing Instructions
Call Listing Agent	No
Use Discretion	No

Investment Information
Investment Prop	Yes
Gross Income	0
Vacancy Factor %	0.00%
Operating Expenses	0
Net Operating Income	0

Detail Listing Information
Min Total SF	0 SF
Max Total SF	0 SF
Lease Rate Low	$ 0.00
Lease Rate High	$ 0.00
Total Units	8

Retail Information
Signage	Signage on Building and Freestanding

Building Information
Building Status	Existing
# of Buildings	1
# of Floors	4
# of Units	8
Total Building SF	7,600 SF
Net Rentable Area	7,440 SF
Total Office SF	0 SF
Largest Contiguous SF	0 SF
Lot SF	6,600 SF
Acres	0.15
Year Built	1967

Property Type
Property Type	Multi-Family
Building Class	B

Location
County	King
Market Area	Lake Union
Tax ID #	2902200805
Zoning	LR3 (M)

Parking Information
#Covered Spaces	0
# Uncovered Spaces	8
Total Parking Spots	8

8 Units in Eastlake with Quick Access to Employers

Public Comments

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).

The Franklin
2362 Franklin Ave E Seattle WA 98102

Listing #: 664307 | Status: Available | Listing Date: 5/23/2023 | Last Modified: 6/21/2023 | Email Listing

For Sale

The Franklin

Listing Images