2711 Franklin Ave E | Seattle, WA 98102
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- LoopNet Team
2711 Franklin Ave E
Seattle, WA 98102
Franklin Eastlake · Multifamily Property For Sale
·
7 Units
INVESTMENT HIGHLIGHTS
- Well-maintained, owner-operated property with minimal deferred maintenance; upgraded plumbing, water heaters, and electrical panels
- Further upside potential for additional parking; 4 dedicated secured garages project to increase current rental income by $5,100 annually
- Average effective rent in the Lake Union submarket was $2,664 per month in 4Q24, and year end occupancy at 95.4%
- In-place rents currently achieving $117 below market on average; renovations project an additional $100 per unit rent premiums
- Conveniently located with easy access to Interstate 5, Highway 99, and Downtown Seattle
PROPERTY FACTS
| No. Units | 7 | Building Size | 5,472 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1927 |
| Building Class | C | Parking Ratio | 0.71/1,000 SF |
| Lot Size | 0.13 AC | ||
| Zoning | L2, Seattle | ||
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 5,472 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1927 |
| Parking Ratio | 0.71/1,000 SF |
| Zoning | L2, Seattle |
AMENITIES
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 7 | $1,783 | 642 |
PROPERTY TAXES
| Parcel Number | 195970-1220 | Improvements Assessment | $261,000 |
| Land Assessment | $1,485,000 | Total Assessment | $1,746,000 |
PROPERTY TAXES
Parcel Number
195970-1220
Land Assessment
$1,485,000
Improvements Assessment
$261,000
Total Assessment
$1,746,000
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