2210 Franklin Avenue E, Seattle, WA 98102 (MLS # 2600541)
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Listing provided courtesy of Northwest MLS<BR>Listing Broker: Paragon Real Estate Advisors; Michael Urquhart; 206-623-8880; [email protected]
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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.
| LAST UPDATED | 11/4/2026 | TRACT | Eastlake |
|---|---|---|---|
| YEAR BUILT | 1964 | COMMUNITY | Eastlake |
| COUNTY | King | STATUS | Active |
| PROPERTY TYPE(S) | Multi Family |
| ADDITIONAL DETAILS | |
| AIR | None |
|---|---|
| AREA | 390 - Central Seattle |
| HEAT | Electric, See Remarks |
| LOT | 6599 sq ft |
| MLS STATUS | Active |
| STORIES | 4 |
| STYLE | 55 - 5-9 Units |
| SUBDIVISION | Eastlake |
| TAXES | 24250 |
| UTILITIES | Sewer Available |
| WATER | Public |
| ZONING | Multi-Family |
| SATELLITE VIEW |
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Properties with the 
icon are courtesy of Northwest MLS.
Listings courtesy of Northwest MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of 11/4/26 10:54 AM PST. All data is obtained from various sources and may not have been verified by broker or MLS GRID. IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. 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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