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Listed by: Michael Urquhart (206) 812-9123 , Brian D. Platt (206) 812-9130 | Paragon Real Estate Advisors (206) 623-8880
$5,950,000
Monthly Est:$29,615
37 Beds
19 Baths
17,083sqft
2231 Franklin Ave E, Seattle, WA 98102
$5,950,000
$29,615/moEst:
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Multi Family
Built in 1977
$-- HOA
15,400 sqft lot
$348/sq.ft
Description
The Villa Anita Apartments is a 19 unit apartment building located at 2231 Franklin Ave E in Seattle’s Eastlake neighborhood. Priced at $5,950,000, or $348 per square foot, the property delivers a 5.0% current cap rate with a path to a 6.3% cap rate at market rents and 7.3% cap on cost following a renovation program. The unit mix is 18 - 2BD/1BTH units and 1 - 1BD/1BTH unit, a two-bedroom heavy mix that is rare in Eastlake’s apartment stock and in constant demand, and 12 of the units look out over Lake Union. Built in 1977 on a 15,400 square foot lot zoned LR3 (M), the building offers two-bedroom units of 856 to 982 square feet and a 739 square foot one bedroom. Every unit has a dishwasher and a private concrete deck or patio. Thirteen kitchens have quartz or granite countertops, eleven have updated cabinets, and fourteen bathrooms have updated vanities. The property offers a common laundry room with owned machines, roughly 19 storage units, an elevator, and 20 parking stalls, six covered and fourteen open, in a neighborhood where parking is scarce. Building systems include copper plumbing, GE electrical panels, electric heat, double pane vinyl windows, a roof approximately 15 years old, and individual hot water tanks all replaced within the last four years.
- Houzeo last checked: 12 hours ago
- Listing updated: October 28, 2026 at 8:51 pm
- Source: Northwest Multiple Listing Service as distributed by MLS GRID | MLS#: NWM2598588
Property Details
Status
Active
Type
Multi Family
No. of Stories
4
County
City
Neighborhood
Year Built
1977
HOA Fees
-
Finished Area
17,083 sqft
Lot Size
15,400 sqft lot
Basement Area
- sqft
MLS Name
Northwest Multiple Listing Service as distributed by MLS GRID
MLS Number
NWM2598588
MLS Status
Active
Cumulative Days Active
6
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Location
Facts & Features
Rooms
Bedrooms & bathrooms
Bedrooms: 37
Bathrooms: 19
Interior
Exterior Features
Wood Products
Flooring
Laminate, Carpet
Heating
Radiant
Sewer
Available
Cooling
None
Construction
Year Built
Year Built: 1977
Home type
Multi Family
Roof
Composition
Construction Materials
Wood
Foundation Details
Poured Concrete
Utilities & Energy
Water Source
Public
Other Features
Subdivision Name
Eastlake
Price History
| Date | Event | Price |
|---|---|---|
10/28/2026 Source: | Listed for Sale | $5,950,000 $348/sqft |
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Based on information submitted to the MLS GRID by Northwest Multiple Listing Service as of Nov 02, 2026, 02:16PM. 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.
IDX information is provided exclusively for consumers’ personal, noncommercial use; it may not be used for any purpose other than to identify prospective properties that consumers may be interested in purchasing, that the data is deemed reliable, but is not guaranteed by MLS GRID, and that the use of the MLS GRID Data may be subject to an end-user license agreement prescribed by the Member Participant’s applicable MLS, if any and as amended from time to time. © 2025 Northwest Multiple Listing Service. All Rights Reserved.
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