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2733 Franklin Ave E

Seattle, WA 98102

$2,550,000

Apartments For Sale  •  4,728 Sq Ft

Property Details

  • Property Type Apartments
  • Total Building Size 4,728 Sq Ft
  • Lot Size 0.13 ac
  • Year Built 1950
  • Cap Rate 3.80 %
  • Zoning LR2
63 Transit Score
79 Walk Score

Description

The Foundation Group is pleased to exclusively offer for sale the Franklin Four, a 4-unit apartment building in Eastlake. The property
provides an opportunity to purchase a trophy 4 unit building in one of Seattle’s preeminent submarkets. The proximity to employment
centers (CBD and the University of Washington), public transportation, retail amenities, and the opportunity to add a unit makes this property a
can’t miss for your next acquisition. 
Originally built in 1950, the Franklin 4 has gone extensive changes over the years. In 2009 an ADA unit was legally added making it a triplex.
In 2017, the owner added a 2 Bedroom / 2 Bath unit with a deck to the building as well. The opportunity to acquire large new units for a
non-commercial apartment building is very rare in Core Seattle. 
The opportunity to add a unit, hold for land value (potential up zone)add bedrooms, convert the property to an AirBnB, or owner occupy
makes this property very desirable in any market cycle.

Property Flyers

Financial Summary (Actual)

Net Operating Income: $96,183 (2019)
Cap Rate: 3.80 %
Total Expenses: $21,417

Amenities

  • Balcony
  • Cable Ready
  • Dishwasher
  • Fireplace
  • Washer/Dryer
  • Heating
  • Ceiling Fans
  • Basement
  • Deck
  • Vinyl Flooring
  • Wheelchair Accessible (Rooms)

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 2
Type: TwoCarGarage
Included in Rent: Yes
Erich Bubbel 206-774-5426 The Foundation Group
Erich Bubbel 206-774-5426 The Foundation Group