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2711 Franklin Ave E
Seattle, WA 98102 Eastlake

$1,950,000 USD

Apartments For Sale  •  5,472 SF

Property Details

  • Property Type Apartments
  • Total Building Size 5,472 SF
  • Lot Size 0.13 AC
  • Building Class C
  • Year Built 1927
  • Zoning L2, Seattle
55 Transit Score
84 Walk Score

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%

Property Flyers

Amenities

  • Laundry Facilities

Public Transportation

Commuter RailDriveWalkDistance
King Street (Seattle) Station (Sounder South Line - Central Puget Sound Regional Transit Authority Rail (Link Light Rail/Sounder)) 8 min - 3.6 mi
AirportDriveWalkDistance
Seattle-Tacoma International 27 min - 16.9 mi
Seattle Paine Field International 31 min - 21.2 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 5
Type: Surface
Included in Rent: Yes
Chad Blenz 206-491-2008 Berkadia
Chad Blenz 206-491-2008 Berkadia