2232 Franklin Avenue East
2232 Franklin Avenue East
Seattle, WA 98102
$3,450,000
Price
9
Beds
10
Baths
6,216 Sq. Ft.
$555 / Sq. Ft.
6,216
Sq. Ft.
$555
per Sq. Ft.
Listing provided courtesy of Sea to Sky Realty
Description
Sea to Sky Realty is excited to present the Vista View apartment complex located in the vibrant East Lake neighborhood. With well below market rents, the new owner can immediately realize a rental income increase by up to 25% without any extra work. The zoning allows townhomes to be built on the parking space without affecting the existing apartment building. Seller financing is available. The investor also has the option to acquire the adjacent property, Lorraine (#290220-0695, MLS #2155299) which...Sea to Sky Realty is excited to present the Vista View apartment complex located in the vibrant East Lake neighborhood. With well below market rents, the new owner can immediately realize a rental income increase by up to 25% without any extra work. The zoning allows townhomes to be built on the parking space without affecting the existing apartment building. Seller financing is available. The investor also has the option to acquire the adjacent property, Lorraine (#290220-0695, MLS #2155299) which is under the same ownership, together. The combined lot size of 13,200sf in such a highly-coveted urban residential neighborhood creates a rare opportunity for developers to build either apartment buildings or townhomes.
- Listed by Lin Shen • Sea to Sky Realty
Property Details for 2232 Franklin Avenue East
Community Name
Eastlake
School DistrictSeattle
Number of Assigned Spaces6
Total Covered Parking0
Entry Date10-11-2023
Energy SourceElectric
SewerAvailable
Location
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LISTING UPDATED: 04/15/2024 12:02 PM
Property Details for 2232 Franklin Avenue East
| Status | Active |
|---|---|
| MLS # | 2160623 |
| Days on Market | 203 |
| Cumulative Days on Market | 202 |
| Taxes | $25,479 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1963 |
| Lot Size | 0.15 AC / 6,600 SF |
| County | King County |
Location
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Building Information for 2232 Franklin Avenue East
Stories3Residences8Year Built1963Building Size-Lot Size0.15 AC / 6,600 SF
Payment Calculator
$20,951 per month
30 year fixed, 7.25% Interest
Principal and Interest
$18,828
Property Taxes
$2,123
HOA Dues
$0
The Payment Calculator is for illustrative purposes only.
Property Information for 2232 Franklin Avenue East
Summary
Location and General Information
- Style: 55 - 5-9 Units
- Area: 390 - Central Seattle
- Effective Year Built Source: Public Records
- Directions: GPS is good.
- Leased Items: Washer/Dryer
- Property Sub Type: MULT
- View: No
- Waterfront: No
Taxes and HOA Information
- Tax Year: 2024
Parking
- Number of Carport Spaces: 0.0
- Carport: No
- Open Parking Spaces: 6.0
- Open Parking: Yes
Interior and Exterior Features
Interior Features
- Floor Covering: Laminate, Vinyl
- Features: Laminate
- Cooling: No
- Cooling: None
- Fireplace: No
- Heating: Yes
- Heating: Baseboard
- FIRPTA: No
Exterior Features
- Exterior: Wood
- Roof: Composition
Property
Utilities
- Water Source: Public
- Water/Sewer/Garbage: 10485
- Power Production Type: Electric
Property and Assessments
- New Construction YN: No
- Zoning Jurisdiction: City
- Foundation: Poured Concrete
- Zoning Class: Multi-Family
- First Right Of Refusal: false
- Possible Use: Multi-Family
- Preliminary Title Ordered: Yes
- Senior Community: No
- Special Listing Conditions: None
- Year Built Effective: 1999
- Photos Count: 9
Lot Information
- Lot Size Dimensions: 6600
- Lot Size Source: Public Records
- Parcel Number Free Text: 2902200700
- Building Condition: Average
- Calculated Square Footage: 6216
- Structure Type: Multi Family
- Square Footage Finished: 0
- Square Footage Unfinished: 0
- Building Area Total: 6216.0
- Building Area Units: Square Feet
- Property Type: Residential Income
- Elevation Units: Feet
- Irrigation Water Rights: No
Multi Family
Building Details
- Number of Uncovered Spaces: 6
- Number of Stories in Building: 3
- Vacancy Rate: 0
- Number Of Units Total: 8
- Units Below Grade: false
- Units In Building Total: 8
Financing / Income and Expenses
- Electric Expense: $408
- Total Expenses: 66995
- Gross Adjusted Income: 143136
- Gross Rent Multiplier: 0
- Gross Scheduled Income: $140,844
- Insurance Expense: $5,273
- Net Operating Income: $76,141
- Other Expenses: $20,350
- Total Monthly Income: 140844
- Fuel Expense: $5,000
Unit 1
- Name Unit 1: 101
- Washer/Dryer Unit 1: false
- Range/Oven Unit 1: true
- Refrigerator Unit 1: true
- Dishwasher Unit 1: true
- Square Feet Unit 1: 590
- Rent Unit 1: $1,400.00
- Bedrooms Unit 1: 1
- Bathrooms Unit 1: 1
Unit 2
- Name Unit 2: 102
- Washer/Dryer Unit 2: false
- Range/Oven Unit 2: true
- Refrigerator Unit 2: true
- Dishwasher Unit 2: true
- Square Feet Unit 2: 590
- Rent Unit 2: $1,400.00
- Bedrooms Unit 2: 1
- Bathrooms Unit 2: 1
Unit 3
- Name Unit 3: 201
- Washer/Dryer Unit 3: false
- Range/Oven Unit 3: true
- Refrigerator Unit 3: true
- Dishwasher Unit 3: true
- Square Feet Unit 3: 590
- Rent Unit 3: $1,600.00
- Bedrooms Unit 3: 1
- Bathrooms Unit 3: 1
Unit 4
- Name Unit 4: 202
- Washer/Dryer Unit 4: false
- Range/Oven Unit 4: true
- Refrigerator Unit 4: true
- Dishwasher Unit 4: true
- Square Feet Unit 4: 829
- Rent Unit 4: $1,750.00
- Bedrooms Unit 4: 2
- Bathrooms Unit 4: 2
Unit 5
- Name Unit 5: 301
- Washer/Dryer Unit 5: false
- Range/Oven Unit 5: true
- Refrigerator Unit 5: true
- Dishwasher Unit 5: true
- Square Feet Unit 5: 590
- Rent Unit 5: $1,100.00
- Bedrooms Unit 5: 1
- Bathrooms Unit 5: 1
Unit 6
- Name Unit 6: 302
- Washer/Dryer Unit 6: false
- Range/Oven Unit 6: true
- Refrigerator Unit 6: true
- Dishwasher Unit 6: true
- Square Feet Unit 6: 590
- Rent Unit 6: $1,500.00
- Bedrooms Unit 6: 0
- Bathrooms Unit 6: 1
Unit 7
- Name Unit 7: 303
- Washer/Dryer Unit 7: false
- Range/Oven Unit 7: true
- Refrigerator Unit 7: true
- Dishwasher Unit 7: true
- Square Feet Unit 7: 590
- Rent Unit 7: $1,395.00
- Bedrooms Unit 7: 1
- Bathrooms Unit 7: 1
Unit 8
- Name Unit 8: 400
- Washer/Dryer Unit 8: false
- Range/Oven Unit 8: true
- Refrigerator Unit 8: true
- Dishwasher Unit 8: true
- Square Feet Unit 8: 1459
- Rent Unit 8: $2,900.00
- Bedrooms Unit 8: 2
- Bathrooms Unit 8: 2
Rental
Rent Information
- Occupant Type: Tenant
- Leasable Area: 5616.0
- Leasable Area Units: Square Feet
Property History for 2232 Franklin Avenue East
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 2232 Franklin Avenue East
Taxable ValueLand$1,650,000Additions$1,359,000Total$3,009,000
Tax Record2022$25,490 ($2,124 / month)
Home Facts
Total Finished SqFt5,616 SqFtAbove Ground SqFt5,616 SqFtStories3Lot Size6,600 SqFtStyleMulti-Family Dwelling (2-4)Year Built1963Year Renovated1995ZoningLR3 (M)CountyKINGAPN290220-0700
Schools near 2232 Franklin Avenue East
This home is within Seattle Public Schools.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | PK to 8 |
Rating | School | Distance |
|---|---|---|
Montlake Elementary School PublicK to 5 | ||
Edmonds S. Meany Middle School Public6 to 8 | ||
Garfield High School Public9 to 12 | ||
Tops K-8 PublicPK to 8 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.
Listing Courtesy of Sea to Sky Realty
Listing provided courtesy of NWMLS, RMLS or Yakima MLS. The information contained in this listing has not been verified by Compass or the MLS and should be verified by the buyer. The DOM value represents the number of days this listing has been Active on this website.