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    2236 Franklin Ave E Seattle, WA 98102

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    For Sale
    $2,980,000

    Apartment complex with expansion potential in vibrant East Lake neighborhood.

    Property size:
    6,730 SF

    Property Features for 2236 Franklin Ave E

    General Information

    Standard status
    Active
    Size
    6,730 SF

    Building Details

    Year built
    1901

    Source: SEA TO SKY REALTY Agent LIN SHEN

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    East Lake Multifamily Investment Opportunity

    Located in the East Lake neighborhood, the Lorraine apartment complex offers access to highways, public transportation, Amazon headquarters, and tech companies. The property includes an eight-unit apartment building, a single house, and a garage, situated on a 6,600 square foot lot with LR3 zoning, indicating expansion potential. The property is intended for use as an apartment complex. The current rents are below market value, presenting an opportunity to increase rental income. An adjacent property is also available for acquisition under the same ownership, potentially combining for a total lot size of 13,200 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.3244219
    Latitude
    47.6393932

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    FAQs

    What type of property is this?
    Apartment building - Apartment complex with expansion potential in vibrant East Lake neighborhood.
    Where is this apartment building located?
    The property is located at 2236 Franklin Ave E Seattle, WA.
    What is the asking price?
    The asking price for this property is $2,980,000.
    What are key features of this property?
    This property features: - Significant rental income increase potential (up to 26%) due to below-market rents.; - Prime location in the East Lake neighborhood, near South Lake Union and major tech companies including Amazon.; - Large 6,600sf LR3 lot with expansion potential.
    Request Owner's contact information
    2236 Franklin Ave E Seattle, WA 98102
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    Seattle, WA 98102
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2236 Franklin Ave E Seattle, WA 98102
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