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Listed by: Daniel Lim (206) 928-2311 , Candice Chevaillier (206) 773-2696 | Lee & Associates Commercial RE (206) 773-2696
$3,350,000
Monthly Est:$16,674
16 Beds
8 Baths
--sqft
2362 Franklin Ave E, Seattle, WA 98102
$3,350,000
$16,674/moEst:
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Multi Family
Built in 1967
$-- HOA
6,600 sqft lot
--/sqft
Description
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 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.
- Houzeo last checked: 12 hours ago
- Listing updated: September 21, 2026 at 4:30 pm
- Source: Northwest Multiple Listing Service | MLS#: NWM2529866
Property Details
Status
Active
Type
Multi Family
No. of Stories
4
County
City
Neighborhood
Year Built
1967
HOA Fees
-
Finished Area
- sqft
Lot Size
6,600 sqft lot
Basement Area
- sqft
MLS Name
Northwest Multiple Listing Service
MLS Number
NWM2529866
MLS Status
Active
Days on Market
128
Cumulative Days on Market
127
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Location
Facts & Features
Rooms
Bedrooms & bathrooms
Bedrooms: 16
Bathrooms: 8
Interior
Flooring
Vinyl, Vinyl Plank, Carpet
Exterior Features
Cement/concrete, Wood
Sewer
Sewer Connected
Heating
Radiant
Cooling
None
Construction
Year Built
Year Built: 1967
Home type
Multi Family
Roof
Flat
Property Condition
Very Good
Foundation Details
Poured Concrete
Construction Materials
Cement, Wood
Utilities & Energy
Security Features
Partially Fenced
Other Features
Lot Features
Alley, Curbs, Paved, Sidewalk
Subdivision Name
Eastlake
Price History
| Date | Event | Price |
|---|---|---|
05/27/2026 Source: | Listed for Sale | $3,350,000 +3.08% $0/sqft |
09/29/2023 Source: | Sold | $3,250,000 $0/sqft |
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Based on information submitted to the MLS GRID by Northwest Multiple Listing Service as of Oct 01, 2026, 02:47PM. 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.
Advertising Broker: Christy Lee-Naumann (267) 341-8337 | Houzeo Brokerage LLC