$3,350,000
 $17,984 est/mo Sourced by Back At You

2362 Franklin Avenue,Seattle, WA 98102

Seattle, WA 98102

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Description

We are pleased to present Franklin 8 in Seattle’s Eastlake neighborhood! Built in 1967, the 8-unit asset comprises ~7,458 SF and features 8 spacious 2BD, 1BTH units. Each features a private patio or balcony and the large 930 SF floorplans include dedicated dining spaces, large closets, and pantry storage. The top floors units feature Clerestory height ceilings and windows in the living space. 2 units have been fully remodeled and equipped with in-unit laundry, providing the template to realize additional upside in completing renovations on the remaining 6 units. Significant capital improvements have been completed in 2023, including a reseal roof, replaced cedar siding, updated fencing, and improved landscaping. The building also features double paned windows throughout. In addition to its steady in-place performance and renovation upside, the asset presents investors with a unique opportunity to further increase density through the redevelopment of the rear parking lot which should support a 4-story building addition programed either as townhomes or eight potential new apartments (Buyer to verify). Positioned in one of Seattle’s most supply constrained and high-demand rental submarkets, the property supports the execution of multiple strategies for significant value add and upside building on a base of consistent and durable cashflow.

Details

MLS #2529866
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1967
Days On Site107
Listing Provided ByLee & Associates Commercial RE | Daniel Lim

Features

SQ Feet7,456
Story(s)4
Units8
ZoningMulti-Family
Acreage0.15
Property ViewYes

Taxes

Property29565

Area Information

StateWA
CountyKing
CitySeattle
Zip Code98102
Area390 Central Seattle
Community NameEastlake
Listing VS Median (in Eastlake)
Price:
$3,350,000
low | high
Med:
$1,061,975
100% of Average
sqft:
7,456
low | high
Med:
1,609
100% of Average
$ / sqft:
$449
low | high
Med:
$680
2% of Average
On site:
107
low | high
Med:
26.5
100% of Average
Sourced by Back At You

Market Activity 98102

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Learn More About This Property

StateWA
CountyKing
CitySeattle
Zip Code98102
Area390 Central Seattle
Community NameEastlake
Listing VS Median (in Eastlake)
Price:
$3,350,000
low | high
Med:
$1,061,975
100% of Average
sqft:
7,456
low | high
Med:
1,609
100% of Average
$ / sqft:
$449
low | high
Med:
$680
2% of Average
On site:
107
low | high
Med:
26.5
100% of Average
Sourced by Back At You
Nearby Listings (Within 1/4 mile)
Price: $2.512M - $4.187M
sqft: 5,500 - 9,000
Nearby Listings Property ImageNearby Listings Details
2318 Yale Avenue Property Photo 1
$3,095,000
2318 Yale Avenue
Seattle, WA 98102
Listing Updated: July 20, 2026 at 12:40:44 PM PDT