2711 Franklin Ave E - Apartments FOR SALE
Seattle, WA 98102 |
2711 Franklin Ave E
Seattle, WA 98102
HIGHLIGHTS
- Well-maintained, owner-operated property with minimal deferred maintenance; upgraded plumbing, water heaters, and electrical panels
- In-place rents currently achieving $117 below market on average; renovations project an additional $100 per unit rent premiums
- Further upside potential for additional parking; 4 dedicated secured garages project to increase current rental income by $5,100 annually
- Conveniently located with easy access to Interstate 5, Highway 99, and Downtown Seattle
- Average effective rent in the Lake Union submarket was $2,664 per month in 4Q24, and year end occupancy at 95.4%
FOR SALE DETAILS
PRICE
-
# OF UNITS
-
CAP RATE
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% LEASED
-
BUILDING DETAILS
PROPERTY NAME
Franklin Eastlake
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Low-Rise
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
5472
STORIES
2
YEAR BUILT
1927
PARKING SPACES
12
LAND DETAILS
LAND ACRES
-
LAND SF
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ZONING
-
APN/PARCEL ID
195970-1220
