2231 Franklin Avenue E, Seattle, WA 98102

Seattle
Local realty services provided by:Tucker Realty ERA Powered
Listed by: michael urquhart, brian d. platt
Office: paragon real estate advisors206-623-8880
MLS#:2598588
Source:NWMLS
2231 Franklin Avenue E,Seattle, WA 98102
$5,950,000
  • - Beds
  • - Baths
  • 17,083 sq. ft.
  • Multi-family
  • Active

Price summary

  • Price:$5,950,000
  • Price per sq. ft.:$348.3

About this home

The Villa Anita Apartments is a 19 unit apartment building located at 2231 Franklin Ave E in Seattle’s Eastlake neighborhood. Priced at $5,950,000, or $348 per square foot, the property delivers a 5.0% current cap rate with a path to a 6.3% cap rate at market rents and 7.3% cap on cost following a renovation program. The unit mix is 18 - 2BD/1BTH units and 1 - 1BD/1BTH unit, a two-bedroom heavy mix that is rare in Eastlake’s apartment stock and in constant demand, and 12 of the units look out over Lake Union. Built in 1977 on a 15,400 square foot lot zoned LR3 (M), the building offers two-bedroom units of 856 to 982 square feet and a 739 square foot one bedroom. Every unit has a dishwasher and a private concrete deck or patio. Thirteen kitchens have quartz or granite countertops, eleven have updated cabinets, and fourteen bathrooms have updated vanities. The property offers a common laundry room with owned machines, roughly 19 storage units, an elevator, and 20 parking stalls, six...

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Home facts

  • Year built:1977
  • Subdivision & Development:Eastlake
  • Listing ID #:2598588
  • Updated:November 01, 2026 at 06:43 PM

Rooms and interior

  • Flooring:Carpet, Laminate
  • Living area:17,083 sq. ft.

Heating and cooling

  • Heating:Radiant

Structure and exterior

  • Roof:Composition
  • Year built:1977
  • Building area:17,083 sq. ft.
  • Lot area:0.35 Acres
  • Construction Materials:Wood Products Exterior Finish

Utilities

  • Water:Public
  • Sewer:Available

Finances and disclosures

  • Price:$5,950,000
  • Price per sq. ft.:$348.3
  • Tax amount:$63,397 (2026)

Parking

  • Total parking spaces:20
  • Carport spaces:6
MLS LogoListings courtesy of Northwest MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of November 1, 2026. 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. Listing information is provided for consumers' personal, non-commercial use, solely to identify prospective properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Information deemed reliable but not guaranteed. Copyright © 2026 MLS GRID. All Rights Reserved.

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