Eastlake Homes with 55 - 5-9 Units Style

Welcome to Eastlake, one of Seattle’s most charming neighborhoods, where the beauty of the Pacific Northwest meets a vibrant community spirit. Nestled along the eastern shore of Lake Union, Eastlake offers stunning waterfront views, lush green parks, and a delightful blend of residential and commercial spaces. This area is known for its eclectic mix of homes, particularly the inviting 5-9 unit buildings that provide a unique sense of community while maintaining a cozy, residential feel.

Eastlake is characterized by its tree-lined streets and historic architecture, making it a picturesque place to call home. The neighborhood is dotted with quaint cafes, artisanal shops, and a variety of dining options that cater to every palate. Whether you’re in the mood for a casual brunch or an upscale dinner, you’ll find it all just a stone's throw away. The proximity to the University of Washington and downtown Seattle adds to the appeal, making it an ideal location for students, professionals, and families alike.

Residents enjoy easy access to outdoor activities, with the scenic Burke-Gilman Trail winding through the neighborhood, perfect for jogging, biking, or leisurely strolls along the water. The community hosts various events throughout the year, fostering a welcoming atmosphere that encourages neighbors to connect.

In Eastlake, you’ll find homes that not only reflect the character of the neighborhood but also offer the modern conveniences that today’s buyers seek. The 5-9 unit style homes provide an intimate setting with a sense of belonging, making Eastlake a truly special place to live. Come and discover the charm of Eastlake—your new home awaits!

Newest Eastlake Homes with 55 - 5-9 Units Style

$3,350,000

2529866 MLS ⋅ ACTIVE Status

We are pleased to present Franklin 8 in Seattle’s Eastlake neighborhood! Built in 1967, the 8-unit asset comprises ~7,458 SF and features 8 spacious 2BD, 1BTH units. Each features a private patio or balcony and the large 930 SF floorplans include dedicated dining spaces, large closets, and pantry storage. The top floors units feature Clerestory height ceilings and windows in the living space. 2 units have been fully remodeled and equipped with in-unit laundry, providing the template to realize additional upside in completing renovations on the remaining 6 units. Significant capital improvements have been completed in 2023, including a reseal roof, replaced cedar siding, updated fencing, and improved landscaping. The building also features double paned windows throughout. In addition to its steady in-place performance and renovation upside, the asset presents investors with a unique opportunity to further increase density through the redevelopment of the rear parking lot which should support a 4-story building addition programed either as townhomes or eight potential new apartments (Buyer to verify). Positioned in one of Seattle’s most supply constrained and high-demand rental submarkets, the property supports the execution of multiple strategies for significant value add and upside building on a base of consistent and durable cashflow.

2362 Franklin Avenue E, Seattle

Listing courtesy of Lee & Associates Commercial RE.

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