Seller's Agent in 2023
Dan Swanson
Kidder Mathews
(425) 444-6501
1 in this area
53 Total Sales
Listed by Kidder Mathews
2362 Franklin Ave E Seattle, WA 98102
Eastlake Neighborhood
--
Bed
--
Bath
8,328
Sq Ft
6,600
Sq Ft Lot
Highlights
- 0.15 Acre Lot
- No HOA
- Vinyl Plank Flooring
- Montlake Elementary School Rated A
- Thermal Windows
- 1-minute walk to Rogers Playground
About This Home
As of September 2023Built in 1967, the Franklin is in the Eastlake neighborhood, an ‘A’ location on the shores of Lake Union just north of Downtown Seattle. The Franklin offers a new owner solid cash flow with substantial upside. Each of the 8 units are likely over 900 SF and rent for an average of nearly $2,450 per month. The most recent turnovers achieved $2,995 plus parking and utilities with a full remodel and $2,495 plus parking and utilities for a basic turnover. Projecting these rents across the rent roll will likely achieve a 5.45% cap rate! For even higher returns, a new owner can likely construct 8 additional units on site (buyer to verify).
Source: Northwest Multiple Listing Service (NWMLS)
MLS#: 2072907
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $26,446
Year Built
- Built in 1967
Lot Details
- 6,600 Sq Ft Lot
- Partially Fenced Property
Home Design
- Triplex
- Flat Roof Shape
- Poured Concrete
- Wood Siding
- Stucco
- Wood Composite
Interior Spaces
- 8,328 Sq Ft Home
- Thermal Windows
Flooring
- Wall to Wall Carpet
- Vinyl Plank
- Vinyl
Parking
- 8 Parking Spaces
- Open Parking
Schools
- Montlake Elementary School
- Meany Mid Middle School
- Garfield High School
Utilities
- Radiant Heating System
Community Details
- No Home Owners Association
- Eastlake Subdivision
- 74-Story Property
Listing and Financial Details
- Assessor Parcel Number 2902200805
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 09/29/2023 09/29/23 | Sold | $3,250,000 | -4.4% | $390 / Sq Ft |
| 07/12/2023 07/12/23 | Pending | -- | -- | -- |
| 05/25/2023 05/25/23 | For Sale | $3,400,000 | -- | $408 / Sq Ft |
Source: Northwest Multiple Listing Service (NWMLS)
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $26,344 | $2,708,000 | $1,947,000 | $761,000 |
| 2023 | $26,446 | $3,069,000 | $1,947,000 | $1,122,000 |
| 2022 | $27,291 | $3,102,000 | $1,650,000 | $1,452,000 |
| 2021 | $32,220 | $2,956,000 | $1,650,000 | $1,306,000 |
| 2020 | $31,753 | $3,341,000 | $1,881,000 | $1,460,000 |
| 2018 | $25,582 | $3,010,000 | $1,419,000 | $1,591,000 |
| 2017 | $24,444 | $2,581,000 | $1,254,000 | $1,327,000 |
| 2016 | $20,142 | $2,554,000 | $726,000 | $1,828,000 |
| 2015 | -- | $2,057,000 | $726,000 | $1,331,000 |
| 2014 | -- | $1,812,000 | $726,000 | $1,086,000 |
| 2013 | -- | $1,536,000 | $726,000 | $810,000 |
Source: Public Records
Agents Affiliated with this Home
-
Dan Swanson
-
Collin Hagstrom
Seller Co-Listing Agent in 2023
Collin Hagstrom
Westlake Associates, Inc.
(206) 505-9416
1 in this area
12 Total Sales
Map
Source: Northwest Multiple Listing Service (NWMLS)
MLS Number: 2072907
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Based on information submitted to the MLS GRID
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