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MLS: #NWM2529866, Listed By: Daniel Lim, Lee & Associates Commercial RE, Source:NWMLS - Northwest Multiple Listing Service

2362 Franklin Avenue

Seattle, WA 98102
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Bed 0

Bed

Bath 0

Bath

Acres0.15

Acre(Lot)

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 additi on 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.

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Detail Ic Property Details

Property Type : Residential Income

Price : $3,350,000

AD Id : 79376703

MLS Id : NWM2529866

Lot Size : 0.15 Acre

Year Built : 1967

County : King

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Feature Features

  • Interior Features

    Roof: Flat

    Roofing Information

    Flat
  • Flooring Information

    Flooring: Vinyl, Vinyl Plank, Carpet Construction Materials: Cement, Wood
  • Heating & Cooling

    Heating: Radiant Has Heating: Yes Cooling: None

  • Building Information

    Year Built: 1967
  • Exterior Features

    Cement/Concrete, Wood Construction Materials: Cement, Wood Foundation Details: Poured Concrete

  • Lot Information

    Lot Description: Alley, Curbs, Paved, Sidewalk Lot Square Feet: 6600 Lot Acres: 0.1515

    Property Information

    Property Type: Residential Income Sub Type: Multi Family Structure Type: Multi Family

  • Listing Price Information

    Original List Price:$3350000

  • Tax Information

    Annual Tax: $29565 Tax Year: 2026 Parcel Number: 2902200805

  • Utility Information

    Sewer: Sewer Connected
  • Location Information

    Subdivision: Eastlake City: Seattle Direction: Property is located on Franklin Ave E between E Louisa and E Lynn Streets. There is also an alley between Franklin Ave E and Boylston Ave E from which the property is accessible.
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
812 E Gwinn Place, Seattle, WA, 98102 $1,375,000 -- -- 3,580 3,580 SqFt
2025 Boylston Avenue, Seattle, WA, 98102 $2,295,000 -- -- 5,240 5,240 SqFt
2020 Eastlake Avenue, Seattle, WA, 98102 $1,475,000 -- -- 3,000 3,000 SqFt
702 11th Avenue, Seattle, WA, 98102 $1,375,000 -- -- 3,830 3,830 SqFt
741 Federal Avenue, Seattle, WA, 98102 $3,250,000 -- -- 7,165 7,165 SqFt
315 12th Avenue, Seattle, WA, 98102 $1,895,000 -- -- 4,587 4,587 SqFt
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ByOwner last updated this listing 06/23/2026 @ 06:20

MLS: NWMLS #2529866 LISTED BY: Daniel Lim, Lee & Associates Commercial RE 206-773-2696 SOURCE: NWMLS - Northwest Multiple Listing Service (Listings courtesy of NWMLS - Northwest Multiple Listing Service as distributed by MLS GRID)

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