2919 Franklin Avenue E

Seattle, Washington WA98102

Unique value-add and redevelopment opportunity packaged into one deal. Brentwood features 12 existing units combined with a 4 unit permitted and shovel-ready townhome development located two blocks from the lake in Eastlake. Opportunity to build the townhomes and sell them off individually, or rent them along with the existing 12-unit to increase total rental income to $500,000. Sale includes all plans and permits for the townhomes. See marketing flyer in supplements for more information.

About This Property

Listing ID2011030
SqFt 8,224
Acres 0.240
Year Built1927
Property TypeResidential Income
Property Sub TypeMulti-Family
County King
Price Before Reduction 4000000
Price Reduction Date 2022-11-16T20:53:45+00:00
Property Sub Type Multi-Family
Property Type Residential Income
Subdivision Eastlake
Year Built 1927
Building Area Units Square Feet
Furnished Unfurnished
Heating Cooling Type Radiator
Interior Features Radiator
Living Area Units Square Feet
Stories Total 3
Elevation Units Feet
Exterior Features Brick, Wood
Foundation Details Poured Concrete
Lot Features Cul-De-Sac, Paved, Sidewalk, Value In Land
Lot Size Dimensions 10450
Lot Size Square Feet 10450
Lot Size Units Square Feet
MLS Lot Size Source County Records
Number Of Units Total 3
Open Parking Spaces 14
Parking Uncovered Spaces 14
Roof Composition
Sewer Sewer Connected
Sewer Company SPU
Structure Type Multi Family
Style Code 56 - 10+ Units
Units Below Grade false
Units In Building Total 12
Utilities Sewer Connected, Electricity Available
Water Company SPU
Water Sewer Garbage 8834
Water Source Public
Building Area Total 8224
Country US
High School District Seattle
MLS Area Major 390 - Central Seattle
View City, Lake, Territorial
Waterfront no
Zoning Class Multi-Family
Zoning Jurisdiction City
Effective Year Built Source Public Records
First Right Of Refusal no
Mls Status Active
Offers Seller intends to review offers upon receipt
Possible Use Multi-Family
Power Company PSE
Power Production Type Electric
Preliminary Title Ordered yes
Property Condition Very Good
SOC Comments 2%
Year Built Effective 1927
Cap Rate 3.5
Electric Expense 8834
Fuel Expense 8834
Gross Adjusted Income 249427
Gross Rent Multiplier 28
Gross Scheduled Income 244667
Insurance Expense 5370
Leasable Area 8224
Leasable Area Units Square Feet
Leased Items None
Net Operating Income 141780
Other Expense 41909
Possession Closing
Sale Type MLS
Seller Disclosure Not Provided
Special Listing Conditions None
Tax Annual Amount 33865
Tax Year 2022
Total Expenses 107646
Total Monthly Income 20560
Vacancy Rate 5

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2919 Franklin Avenue E Seattle, WA 98102

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The database information herein is provided from the Northwest Multiple Listing Service (NWMLS). NWMLS data may not be reproduced or redistributed and is only for people viewing this site. All information provided is deemed reliable but is not guaranteed and should be independently verified. All properties are subject to prior sale or withdrawal. The information contained in this listing has not been verified by WPI Real Estate Services, Inc. (7101) and should be verified by the buyer. © 2022 NWMLS. All rights reserved. Data last updated: Friday, December 2nd, 2022 11:42:44 AM.
Active Listing courtesy of Kidder Mathews
Active Listing courtesy of Kidder Mathews
Data services provided by IDX Broker