Listing courtesy of Lee & Associates Commercial RE
$3,350,000
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… Read More 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. Read Less
Listing courtesy of Lee & Associates Commercial RE
Listing Snapshot
Cumulative Days On Market
8
Days on Website
8
Last Updated
Property Type
Multi Family
Lot Size
0.15 Acres
Year Built
1967
Property Tax
$29,565
MLS Number
2529866
30 Days Snapshot Of 98102
$1.19M
+10%
(avg) sold price
26
-13%
homes sold
79
+51%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Building Area Total: 0, Building Area Units: Square Feet, Calculated Square Footage: 0, Elevation Units: Feet, Leasable Area: 7456, Living Area: 0, Number Of Units Total: 8, Stories Total: 4, Structure Type: "Multi Family", Units In Building Total: 8, Year Built: 1967, Year Built Effective: 1996
Based on information submitted to the MLS GRID as of . 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. Listings last updated on ,
Confirm your time
Fill in your details and we will contact you to confirm a time.