New Listing
$2,150,000
 $11,542 est/mo Sourced by Back At You

2210 Franklin Avenue,Seattle, WA 98102

Seattle, WA 98102

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Description

The Franklin House is a seven-unit apartment building located at 2210 Franklin Ave E in Seattle's Eastlake neighborhood. Priced at $2,150,000, the property delivers a 5.5% current cap rate with a clear path to a 6.6% cap rate at market rents and a 7.3% renovation cap rate on cost following an interior renovation program. Built in 1964 on a 6,600 square foot lot zoned LR3 (M), the wood frame building consists of 3 - 1BD/1BTH units, 3 - 2BD/1BTH units and 1 - 3BD/2BTH Penthouse unit with an in-unit washer/dryer on the top floor. Every unit has a private deck or patio, and units 301, 302, and the penthouse enjoy views of Lake Union. The building is operating well with a TPO roof installed roughly twelve years ago, copper plumbing, GE electrical panels, and double pane vinyl windows. Residents share a common laundry room and ten open parking stalls sit off the alley at the rear of the property. The penthouse is being delivered vacant, giving a buyer the chance to renovate the top floor lake view unit to its full potential or to occupy it while the remaining six units generate income. The parcel also carries development upside. The LR3 (M) zoning allows unlimited density inside the urban village, a structure height of 50 feet, a floor area ratio of 1.8, or 2.3 with a 4 Star Built Green certification, and no parking requirement given the frequent transit service on Eastlake Ave E. See the development optionality section for additional details within this OM.

Details

MLS #2600541
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1964
Days On Site4
Listing Provided ByParagon Real Estate Advisors | Michael Urquhart

Features

SQ Feet6,310
Story(s)4
Units7
ZoningMulti-Family
Acreage0.15

Taxes

Property24250

Area Information

StateWA
CountyKing
CitySeattle
Zip Code98102
Area390 Central Seattle
Community NameEastlake
Listing VS Median (in Eastlake)
Price:
$2,150,000
low | high
Med:
$884,950
100% of Average
sqft:
6,310
low | high
Med:
1,508
100% of Average
$ / sqft:
$341
low | high
Med:
$588
22.54314513959% of Average
On site:
4
low | high
Med:
54
7.407407407407% of Average
Sourced by Back At You

Market Activity 98102

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Based on information submitted to the MLS GRID as of November 8, 2026 at 6:11:01 AM PST. 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.

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Learn More About This Property

StateWA
CountyKing
CitySeattle
Zip Code98102
Area390 Central Seattle
Community NameEastlake
Listing VS Median (in Eastlake)
Price:
$2,150,000
low | high
Med:
$884,950
100% of Average
sqft:
6,310
low | high
Med:
1,508
100% of Average
$ / sqft:
$341
low | high
Med:
$588
22.54314513959% of Average
On site:
4
low | high
Med:
54
7.407407407407% of Average
Sourced by Back At You
Nearby Listings (Within 1/4 mile)
Price: $1.612M - $2.687M
sqft: 4,500 - 7,500
Nearby Listings Property ImageNearby Listings Details
2239 Yale Avenue Property Photo 1
$2,300,000
2239 Yale Avenue
Seattle, WA 98102
Listing Updated: November 4, 2026 at 9:02:25 AM PST